FX.co ★ China Buys First U.S. Soybeans Ahead of Trump–Xi Summit

China has reportedly acquired three shipments of U.S. soybeans this week, marking its initial imports from the latest U.S. harvest, according to sources quoted by Reuters. The Chinese state enterprise, COFCO, has procured approximately 180,000 metric tons of soybeans, scheduled for delivery in December and January via Pacific Northwest ports. These transactions come in anticipation of the upcoming summit between U.S. President Donald Trump and Chinese President Xi Jinping, suggesting a possible reduction in trade tensions. Concurrently, soybean futures have surged to their highest point in 15 months, recovering from recent five-year lows, driven by optimism about a potential U.S.-China trade agreement.