U.S. soybean producers, hit hard by stalled exports and plummeting prices, received encouraging news this weekend with progress in trade discussions with China and the signing of new trade agreements with several Southeast Asian nations.
Reports indicate that months of tense negotiations between the United States and China—the world’s largest buyer of American soybeans—may be yielding results. After meetings in Malaysia with Chinese Vice Premier He Lifeng and other officials, U.S. Treasury Secretary Scott Bessent told CBS that China plans to make “substantial” purchases of U.S. soybeans. The Chinese Ministry of Commerce confirmed to Reuters that an initial consensus had been reached on multiple bilateral issues, including agriculture. This announcement comes just days before a scheduled meeting between President Donald Trump and Chinese President Xi Jinping to discuss trade.
Caleb Ragland, president of the American Soybean Association and a farmer from Magnolia, Kentucky, welcomed the news. He said that early signals of purchase commitments are positive and expressed hope that the upcoming presidential meeting will produce a deal that benefits U.S. soybean farmers, whose exports to China had been largely halted in recent months.
Data from China’s General Administration of Customs shows that no U.S. soybeans were imported in September 2025, compared to 1.7 million tonnes in the same month in 2024. The trade conflict, initiated by Trump earlier this year, has caused soybean prices to drop nearly 40% over the past three years.
In addition to progress with China, the U.S. announced on October 26 that it had signed trade agreements with Malaysia and Cambodia and established frameworks for reciprocal trade with Vietnam and Thailand. These agreements aim to reduce or eliminate tariff barriers for U.S. agricultural exports, ensure commitments from Thailand to purchase $2.6 billion annually in soybean meal and other feed commodities, and remove key non-tariff obstacles, including biotechnology regulations and sanitary and phytosanitary provisions.
Ragland praised the administration’s efforts to expand access to Southeast Asian markets and emphasized the importance of swiftly implementing these agreements. He called for continued actions that reduce trade barriers and secure long-term market opportunities for U.S. soy farmers, reinforcing hope for a recovery in a sector that has faced prolonged uncertainty.
