China Agrees to Buy US Soybeans
China has agreed to buy 12 million metric tons of U.S. soybeans this year, according to U.S. Treasury Secretary Scott Bessent.
Details of the deal have not been released, but it is known that China will also buy 25 million metric tons during the next three years.
Many farmers have already sold their soybean crops at a loss.
Andrew Grobmyer, Executive Director of the Agricultural Council of Arkansas, stated that the deal will have a modest impact on farmers. Commodity prices have slightly increased, which may result in extra money for farmers who haven't sold their crops yet.
Author's summary: China agrees to purchase US soybeans in a new deal.
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