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Soybeans Drift as China Buying Awaited After US Tariff Statement

Soybeans Drift as China Buying Awaited After US Tariff Statement
Bloomberg Markets Thursday 02 July 2026, 17:05 UTC By Michael Hirtzer, Erin Ailworth 1 min read
Key Points

Soybeans Drift as China Buying Awaited After US Tariff Statement Soybean futures drifted between small gains and losses as traders weighed a statement by China’s government on rolling back tariffs on US agricultural products, a move that could pave the way for purchases by the Asian country. China’s Ministry of Commerce said Thursday the two sides agreed in principal on reducing tariffs following recent talks, with the statement coming after Chinese Foreign Minister Wang Yi had a phone call...

Soybeans Drift as China Buying Awaited After US Tariff Statement Soybean futures drifted between small gains and losses as traders weighed a statement by China’s government on rolling back tariffs on US agricultural products, a move that could pave the way for purchases by the Asian country. China’s Ministry of Commerce said Thursday the two sides agreed in principal on reducing tariffs following recent talks, with the statement coming after Chinese Foreign Minister Wang Yi had a phone call with US Secretary of State Marco Rubio on Wednesday. Such a move could potentially bring American soybeans below the cost of Brazilian supplies.
China (LOCATION) US (LOCATION) Asian (ORG) Ministry of Commerce (ORG) Chinese (ORG) Wang Yi (PERSON) State (ORG) Marco Rubio (PERSON) American (ORG) Brazilian (ORG)
Originally published by Bloomberg Markets Read original →

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