Farmers and traders, the U.S. Treasury Secretary Scott Besant has announced that China has agreed to purchase 12 million tons of soybeans from the United States by January, with a commitment to buy 25 million tons annually over the next three years. This agreement marks a significant step toward strengthening agricultural trade cooperation between the two countries. Following the announcement, soybean futures on the Chicago Board of Trade (CBOT) rose 1.35%. Besant also stated that Southeast Asian countries have agreed to purchase an additional 19 million tons of U.S. soybeans, though the timeline for these shipments has yet to be finalized. U.S. President Donald Trump and Agriculture Secretary Brook Rollins hailed the deal as a positive development for American farmers, noting that China remains the largest buyer of U.S. soybeans, having imported 27 million tons in 2024. According to analysts, this new agreement will support U.S. soybean export outlook and prices, potentially putting pressure on South American soybean and soy oil prices. As China’s soybean crushing activity increases, the global vegetable oil market may face additional supply, leading to downward pressure on global prices. However, since China has not yet officially removed tariffs on U.S. soybeans, market participants remain cautious.