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This week, Chinese state-owned trading firms purchased a total of 18 to 23 cargoes of U.S. soybeans, including an additional 10 to 13 cargoes in the latest round of deals, the second-largest batch of the week. The purchases mark the first such deals since the September summit between Presidents Donald Trump and Xi Jinping in Washington. The shipments, scheduled to begin in December, come as China works toward a previously announced target of purchasing 25 million metric tons of U.S. soybeans during the 2026-27 marketing year.

The purchases follow a weeks-long pause in buying and come despite soybeans being excluded from the tariff reductions announced after the summit. U.S. soybeans remain subject to an additional 10% Chinese tariff, which has discouraged private Chinese buyers from returning to the American market in favor of South American suppliers. The purchases precede another expected Trump-Xi meeting in November, with China's progress toward its agricultural purchasing commitments likely to remain under scrutiny.

Meanwhile, China and North Korea officially opened the long-anticipated New Yalu River Bridge, connecting the Chinese city of Dandong with Sinuiju in North Korea. Completed in 2014, the four-lane bridge had remained unused for 12 years as North Korea delayed construction of its connecting roads and customs facilities. Chinese Premier Li Qiang and North Korean Premier Pak Thae-song addressed the opening ceremony by video, with Li saying the crossing would "strongly promote" bilateral trade and economic cooperation.

The opening follows a June summit between Xi Jinping and North Korean leader Kim Jong-un and could expand cross-border commerce, although UN sanctions continue to restrict trade with North Korea and raise questions about how increased commercial traffic will be monitored.

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