Chinese and U.S. officials confirm the “ink is dry,” as a new trade deal has officially been signed. The news came during a White House event last night.
Commerce Secretary Howard Lutnick says the deal was reached earlier this week and is based on earlier trade talks in London. It codifies those terms and includes a commitment from China to send rare earth materials to the United States. Lutnick also told reporters that the U.S. would lift countermeasures but only once the minerals are delivered.
This deal did not mention any specific agricultural products, but officials say they will remain in close contact.
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USDA’s February WASDE report, analysts expect minimal price movement as grain stocks remain steady. Traders weigh renewed Chinese soybean purchases, South American weather, acreage shifts, and upcoming USMCA trade talks.
Incremental trade clarity with India could support select U.S. ag exports, but major gains hinge on future market-access talks.
The phone call injected optimism into the soybean market, but actual Chinese buying and its timing will ultimately determine the extent of U.S. agricultural export benefits.
China-led demand continues to anchor soybean and sorghum exports despite weekly swings.
Traders say that shift could eventually prompt the USDA to scale back soybean export projections, noting the outlook differs greatly for other grain commodities.
