Treasury Secretary Scott Bessent announced that China has agreed to buy 12 million metric tons of soybeans this year. The announcement by Bessent follows President Trump’s meeting with President Xi Jinping of China in South Korea. Bessent told Fox Business that China will also buy a minimum of 25 million tons annually for the following three years.
Commodity broker Joe Camp of Commstock Investments says the reaction in the ag marketplace has been mixed due to a lack of details of the framework of the agreement.
Camp expands on Treasury Secretary Bessent’s comments regarding the agreement.
He expects that more terms of the trade agreement will be announced this week.
Joe Camp and the team at Commstock can be reached at www.commstock.com/
