WASHINGTON, D.C. (RFD NEWS) — President Donald Trump and Chinese President Xi Jinping held a high-profile phone call focused on diplomatic and economic issues, including potential increases in China’s purchases of U.S. soybeans, a topic that sent soybean futures sharply higher in early trading after Trump’s announcement.
The call, described by Trump as “very positive,” touched on trade, security issues, and plans for future engagement between the two leaders.
Trump took to his Truth Social platform following the call, posting that he had just completed an “excellent” conversation with Xi in which they discussed a range of subjects — including trade, Taiwan, and agricultural purchases — and said China was considering buying about 20 million metric tons of U.S. soybeans this season and up to 25 million metric tons next season.
That post helped spark an intra-day rally in soybean futures, bringing prices to their highest levels of 2026 before settling back somewhat later in the session.
While Trump emphasized the strength of his personal relationship with Xi and framed China’s interest in U.S. agricultural purchases as a positive outcome, the Chinese government’s statements focused on broader diplomatic concerns, such as Taiwan and regional stability, and offered no specific confirmation of purchase commitments from Beijing.
Market analysts noted that despite the rally, China’s actual buying behavior remains uncertain, particularly given ongoing competition from cheaper Brazilian soybeans and structural trade patterns that have shifted China’s import mix in recent years.
Farm-Level Takeaway: 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.
Tony St. James, RFD NEWS Markets Specialist
Farm CPA Paul Neiffer shares his perspective on the uncertain outlook of federal farm relief and the Farm Bill, which may not materialize until the government shutdown ends.
October 09, 2025 01:29 PM
·
As the government shutdown pushes the farm economy closer to the brink, Sens. Grassley and Ernst of Iowa are raising their voices for agriculture.
October 09, 2025 11:50 AM
·
October 09, 2025 11:36 AM
·
U.S. Senator Joni Ernst (R-IA) joined us on Wednesday’s Market Day Report to share why Ames is uniquely positioned to support expanded USDA operations.
October 08, 2025 12:47 PM
·
Iowa land values dropped 3% year-over-year. Sen. Chuck Grassley said this discomforting pattern is a harbinger of crisis for farmers, as seen in the 1980s.
October 08, 2025 12:37 PM
·
Jed Bower, the incoming president of the National Corn Growers Association, joined us for his sector’s perspective on the ongoing government shutdown.
October 08, 2025 11:41 AM
·
Treasury Secretary Scott Bessent last week said an announcement would be made on Tuesday. However, that self-imposed deadline has now passed.
October 08, 2025 11:19 AM
·
Plan for a cooler global trade market in 2026 with tighter margins on exports, potential rate shifts, and premiums for reliable deliveries into Asian and African growth markets.
October 07, 2025 03:24 PM
·
George Baird, with the American Society of Farm Managers and Rural Appraisers (ASFMRA), joins us with updates on how this year’s rice harvest is shaping up.
October 07, 2025 03:12 PM
·
