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Market Chatter: US Treasury Secretary Downplays Higher Soybean Quota for China

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U.S. Treasury Secretary Scott Bessent signaled that China is unlikely to boost soybean purchases beyond existing commitments, citing a three-year pledge under the Busan agreement, Reuters reported Thursday.

Bessent said "soybeans are really all taken care of" as the countries' two presidents met in Beijing, according to the report.

Soybeans are America's top export to Vietnam, but Beijing has reduced reliance on U.S. oilseeds, with imports dropping to about 15% of the total in 2025 from 41% in 2016, Reuters wrote.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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