Soybeans Covered Through Major U.S.-China Agreement

U.S. Treasury Secretary Scott Bessent announced that a significant trade agreement with China has secured the sale of 25 million metric tons of soybeans. This development was shared during an interview with CNBC on Thursday.

The announcement follows a meeting between Presidents Donald Trump and Xi Jinping in Beijing, where trade discussions took place. The soybean deal signifies a strengthened agricultural trade partnership between the two countries.

Bessent also mentioned a major purchase commitment under the Busan agreement, which outlines a plan for the next three years, ensuring that soybean trade is effectively managed.

(With inputs from agencies.)