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The warming of ties between the U.S. and China have boosted crop prices, with soybeans hovering near the highest levels since June 2024.

China last year purchased $13 billion of U.S. soybeans — more than 20% of the entire crop — for animal feed and cooking oil, but still hasn’t booked a single shipment from this fall’s huge crop.

China, typically the biggest buyer of U.S. soybeans, still hasn’t booked a single shipment of the crop from this year’s harvest.