Soy, Corn and Cotton Futures Fall as U.S. Comments Fail to Clarify China Purchase Plans

Soybean, corn and cotton futures fell May 15, 2026, after U.S. officials offered no new deal details on prospective Chinese agricultural purchases, leaving traders unconvinced that demand will materially improve. U.S. Trade Representative Jamieson Greer said China would make “double-digit billion” annual purchases of U.S. farm goods over the next three years and reiterated a prior pledge for China to buy 25 million tons of soybeans annually. President Donald Trump said China would buy billions of dollars of U.S. soybeans, but no new oilseed agreements were announced. Chicago soybean and corn futures reversed earlier gains, while New York cotton futures dropped as much as 2.7%. Soybean futures closed nearly 3% lower on May 14 amid disappointment over the lack of specific volumes and timing after Trump’s meeting with Chinese President Xi Jinping. Analysts said the pledged soybean volumes would restore roughly average trade levels rather than expand market access.