While President Donald Trump spent the day in China meeting with leaders on various trade and tariff issues, U.S. Treasury Secretary Scott Bessent said Thursday that China plans to buy 12 million metric tons of soybeans from the U.S. through January. 

The country’s leaders said it would buy 25 million tons annually for the next three years, national media sources are reporting. China bought 22.5 million tons of soybeans in the previous season.

Agricultural officials and groups in Iowa are reacting with cautious optimism. 

Iowa Secretary of Agriculture Mike Naig issued the following statement after the trade announcement:

“This is great news for Iowa farmers and our ag economy. Expanded soybean purchases by China will make a meaningful impact at a time when many farmers are feeling the pain of a tough farm economy. It’s important that we continue to play offense on trade by opening and expanding new markets while also driving domestic use of Iowa products, especially homegrown biofuels.”

The Iowa Soybean Association said it welcomed the news. “Following months of uncertainty around Chinese purchases of U.S. soybeans and other agricultural products, this positive development is encouraging news for Iowa farmers who rely on open market access to drive soybean demand,” the group said in a press release.

“Today’s announcement addresses many of the concerns around market access to China following months of stalled purchases and uncertainty,” Tom Adam, ISA president and soybean farmer from Harper, said in a news release. “This is great news for American agriculture and for soybean farmers who have been eager to re-establish a stable and long-term relationship that positions us for success moving forward.”

The group said it was encouraged that the trade commitments are being framed as minimums and hopes those numbers increase. According to the group, China purchased 22.9 million metric tons, or 841 million bushels, of U.S. soybeans during the 2024-25 marketing year. Excluding the last two years, China has historically purchased 28 to 36 million metric tons of U.S. soybeans annually over the last 10 years.

American Farm Bureau Federation President Zippy Duvall also commented on the agreement. 

“Farm Bureau is encouraged by China’s commitment to import soybean and sorghum from the United States. Trade disputes dealt a blow to farmers who have already been hit hard by high expenses and historically low commodity prices,” he said in a press release. “Expanding markets and restoring purchases by China will provide some certainty for farmers who are struggling just to hold on.”