Des Moines Register

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Chicago soybean prices reached a 15-month high following news of a trade truce with China.

China has agreed to purchase tens of millions of tons of U.S. soybeans over the next few years.

The deal could help Chinese demand for U.S. soybeans return to previous levels by the 2026/27 season.

Chicago soybeans hit a 15-month high after U.S. Treasury Secretary Scott Bessent said China had agreed to buy tens of millions of tons of American beans in the next few years as part of a trade truce.

Bessent said Thursday, Oct. 30, that Beijing had agreed to purchase 12 million metric tons of U.S. soybeans for the current season and committed to buying 25 million tons annually for the next three years. That eased concerns about a lack of details in initial re

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