Where Data Tells the Story
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Last year, China bought more than $12 billion worth of American soybeans. Since the summer, however, not a single bean has been shipped, one of many commodities that fell victim to the simmering trade tensions.
But China might be about to start buying American beans again. Soybean futures rose 2% to a five-month high in Chicago this morning, after Treasury Secretary Scott Bessent said China “will be making substantial purchases” as the two countries close in on a trade deal.
For American farmers, it’s a much-needed jolt of optimism, as soybeans are the country’s biggest agricultural export — worth $24.5 billion last year — according to the USDA.
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