Soybean futures surged 1.99% to $1,081.50 per bushel for the January 2026 contract, following optimistic remarks from U.S. Treasury Secretary Scott Bessent about China’s plans to resume large-scale purchases of American soybeans.
Speaking on CBS’s Face the Nation, Bessent said that after two days of trade discussions in Malaysia, China agreed to revive substantial soybean imports from the U.S. for several years and delay its expanded rare-earth licensing regime by one year. He added that soybean farmers “will feel very good” once President Donald Trump and Chinese President Xi Jinping formally announce a trade deal next Thursday in South Korea.
The Treasury Secretary also confirmed that details regarding the TikTok ownership transfer to U.S. control have been finalized and would likely be part of the broader agreement between the two nations.
Analysts said the announcement marks a major boost for U.S. agriculture exports, particularly after years of trade friction. The renewed Chinese buying interest is expected to lift sentiment in grain markets, with corn and wheat prices also trending higher in early trading.
At 17:57 GMT+5:30, soybean futures were up $21.12, or 1.99%, reflecting optimism that a comprehensive U.S.-China trade deal could rejuvenate agricultural demand and ease global supply chain tensions.
