President Donald Trump of the United States has urged China to significantly increase its purchases of American soybeans.
On August 11 (local time), President Trump stated on the social media platform Truth Social, "China is concerned about a shortage of soybeans. Our great farmers produce the highest quality soybeans," adding, "I hope China will quickly quadruple its soybean orders."
He continued, "This is also a way to greatly reduce China's trade deficit with the United States. Prompt service will be provided. I thank President Xi (Jinping)."
President Trump did not specify the reasons for his post or provide further details.
According to Bloomberg News, following President Trump's remarks, Chicago soybean futures surged by as much as 2.8%, marking the largest intraday increase in four months.
The U.S.-China tariff truce is set to expire on August 12. The Trump administration is signaling a strong possibility of extending the tariff truce deadline as negotiations continue.
China is the world's largest importer of soybeans and the biggest customer for American soybean farmers. However, since the start of the Trump administration's second term and the ensuing trade war between the United States and China, China has been reducing its imports of American soybeans.
According to Bloomberg News, data from the U.S. Department of Agriculture at the end of July this year showed that China had not placed any orders for U.S. soybeans for the 2026 marketing year, which begins in September. Bloomberg also reported that in recent months, China has been increasing its soybean purchases from Brazil, its largest supplier, and has also tested some shipments from Argentina.
During the first Trump administration, China agreed in the Phase One trade deal to increase its purchases of American agricultural products, including soybeans, but fell significantly short of its purchase targets.
Vitor Pistoia, senior analyst at Rabobank, stated that there are few signs that China is concerned about a soybean shortage. He added that if U.S.-China trade relations do not improve, China can meet its needs by sourcing soybeans from South American countries such as Brazil, Argentina, Uruguay, and Paraguay.
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