Bessent Extends China Soy Deadline But Slow Sales Fuel Doubts

US Treasury Secretary Scott Bessent appeared to extend an earlier deadline for Beijing’s pledge to buy American soybeans, but the market remains skeptical of reaching the goal amid a lack of new export sales to China.

Bessent said yesterday that China is “on track” to meet a promise to buy 12 million tons of US soybeans by the end of February. That’s later than the White House’s statement last month saying China had agreed to buy the shipments “during the last two months of 2025.”

While the added months buy more time, there is little sign that the Asian nation ...