11:57 - 29.10.2025

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October 29, Fineko/abc.az. Chinese state-owned company COFCO this week purchased three shipments of soybeans from the U.S., ABC.AZ reports, referring to Reuters’ two trade sources.

These are the country's first purchases from this year's American harvest ahead of the summit of leaders Donald Trump and Xi Jinping, which will take place this week.

According to sources, COFCO has purchased nearly 180,000 tons of soybeans for delivery in December and January through port terminals in the Pacific Northwest.

Soybean futures prices on the Chicago Board of Trade jumped to their highest level in 15 months this week, rebounding from recent five-year lows amid hopes for a trade agreement between the U.S. and China.

China, the world's largest importer of soybeans, has abandoned soybeans from the fall harvest in the U.S., shifting its demand to suppliers from South America amid a trade conflict with Washington. It has already cost billions of dollars for American farmers.