China is set to fulfill its pledge to buy 12 million tons of U.S. soybeans by February, U.S. Treasury Secretary Scott Bessent said, effectively extending the original year-end deadline. The marketing year for U.S. soybeans runs from September to August, and Bessent noted that China’s purchases are progressing in “perfect cadence” to meet the goal.
Shipments from Gulf Coast terminals are accelerating, with at least six bulk cargo vessels scheduled through mid-December, and a seventh already en route—the first U.S. soybean delivery to China since May. These shipments follow trade talks between former Presidents Trump and Xi Jinping in late October and signal a renewed flow of U.S. soy despite previous trade tensions.
The USDA has confirmed 2.25 million tons of purchases so far, though analysts estimate the actual total could be closer to 3–4 million tons due to unreported or under-threshold deals. While purchases remain below pre-trade war levels, the shipments ease concerns over potential cancellations or shifts to lower-priced Brazilian soy.
