The US announcement of approval for agricultural sales to China led to a 3-4.7% increase in prices for major crops, although China did not confirm the information.

On Sunday, the White House released a briefing on the May 14-15 talks between the US and China, stating that "China will purchase at least $17 billion worth of US agricultural products annually in 2026 (proportionately), 2027 and 2028, in addition to the soybean purchase commitment (12 million tonnes) made in October 2025."

On this news, July futures on the Chicago Board of Trade rose sharply:

• for American soybeans - by 3% to $445.7/t (unchanged for the week),
• for soft winter SRW wheat - by 4.5% to $244.2/t (+4.8% per week),
• for corn — by 4.7% to $187.8/t (+0.5% per week).

However, this increase only offset a 2.7-3.2% drop in quotes on Thursday due to the lack of concrete agreements with China.

At the same time, it is worth noting that the Chinese side traditionally does not confirm either the specific volumes or the value ($17 billion) of the agreed purchases in its first official reports. And unlike the White House, which remained silent about tariffs, the Chinese Ministry of Commerce emphasized that the agreements provide for the mutual reduction or elimination of tariffs on certain groups of goods, which are currently being agreed upon by working groups.

In addition, China has restored access to American meat to its market by extending the licenses of more than 400 beef supply companies, and has also begun working with US regulators to resume imports of American poultry.

The Ministry of Commerce of the People's Republic of China noted that the parties will be able to find solutions to problems through dialogue and cooperation.

Recall that in 2024, China purchased $24 billion worth of goods from the United States, and in 2025, it reduced imports to $8.3 billion in response to Trump's imposition of tariffs on Chinese goods.

We hope that the statements of representatives of the US Administration will not turn out to be more optimistic than they actually are, and the markets will roll back again, having received more detailed information from both sides.