What did U.S. Treasury Secretary Scott Bessent mean when he said soybeans are 'all taken care of'?

Bessent meant that China's existing purchase commitment under the 'Busan agreement'—for soybeans over the next three years—is sufficient to meet near-term U.S. export expectations, thereby cooling market hopes for additional or increased Chinese buying beyond that pledged volume.

How has China's reliance on U.S. soybeans changed since 2016, and what was its share in 2024 and last year?

China's reliance on U.S. soybeans has sharply declined since 2016, when it sourced 41% of its soybeans from the U.S.; by 2024—the year before Trump's return to office—it had dropped to roughly 20%, and last year it fell further to just 15%.

US's Bessent says soybeans 'all taken care of', cooling expectations for fresh Chinese buying

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US's Bessent says soybeans 'all taken care of', cooling expectations for fresh Chinese buying — ChemBrief Topics

US's Bessent says soybeans 'all taken care of', cooling expectations for fresh Chinese buying

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