China Crank Up Soybean Purchases Ahead of Trump-Xi Summit

Chinese buying of US soybeans is gaining momentum ahead of a planned September meeting between President Trump and Chinese President Xi Jinping. According to Arlan Suderman, chief commodities economist at StoneX, contacts in China confirm that Beijing intends to follow through on its commitment to purchase 25 million tonnes of US soybeans annually. Buying has accelerated this summer, with the potential to reach 50% to 60% of the target by late September.

The increased demand may redirect global soybean trade, forcing non-China customers to look to Brazil for supplies. Brazil's soybean exports have risen more than 8% in the first half of 2026, and its share of shipments has fallen from 75% to 69%. However, China still accounted for a significant portion of Brazilian soybeans during this period, at near year-ago levels.

The market is watching closely for signs of additional agricultural purchases by China. The country has continued buying some US pork but slowed grain sorghum purchases and made no major commitments to other commodities. Chinese buyers inquired about US corn and wheat earlier this summer without any major agreements, leaving room for increased purchasing before the Trump-Xi summit.