China Soybean Purchases Advance, $17 Billion Farm Goods Pledge Stalls Ahead of Trump-Xi Summit

China has completed more than half of its pledge to buy 25 million tons of US soybeans in 2026, but a separate commitment to purchase an additional $17 billion in American agricultural products has made little progress ahead of this week's presidential summit in Washington, according to Bloomberg. The stalled $17 billion commitment, agreed at the May meeting between Presidents Donald Trump and Xi Jinping, may hinge on tariff relief from Beijing. Both annual pledges run through 2028. US Department of Agriculture data shows zero corn and wheat sales to China for the 2026-27 season. Soybean purchases, agreed under an October truce, have accelerated as fall harvest arrivals pick up. Analysts said the soybean target is achievable but warned the broader figure faces headwinds from China's diversification strategy, which has shifted supply toward Brazil, Argentina, Canada and Australia. Trump and Xi are scheduled to meet Thursday, Sept. 24.