Trump-Xi Conversation Spurs Soybean Rally

On Wednesday, President Donald Trump was on Truth Social saying he had a “very positive” phone call with Chinese President Xi Jinping in which China agreed to boost purchases of U.S. soybeans this season to about 20 million tons. The move immediately lifted soybean futures higher. Despite that reaction, analysts note that past Chinese purchase pledges have not always translated into sustained orders, and structural market factors.