China ramps up US soybean purchases ahead of summit

China bought at least 1 million metric tons of US soybeans last week as the country ramps up purchases ahead of Chinese leader Xi Jinping’s visit to Washington this month. China bought at least 1 million metric tons of US soybeans last week, Beijing has now fulfilled more than half of the 25 million-ton annual target it committed to through 2028 as part of last year’s trade truce with Washington, Bloomberg noted, offering at least “ one bright spot ” for the upcoming summit, which has been clouded by a debate over AI guardrails amid the superpowers’ fierce technological rivalry. The meeting between the countries’ leaders “could offer another test of China’s commitments ” to buying US agricultural products, DTN/Progressive Farmer wrote, but frictions over AI competition and Taiwan could impede progress on trade.