Wheat climbs nearly 2% toward $7.30 as US-China talks lift hopes

  • Wheat prices climbed nearly 2% toward $7.30 per bushel.
  • 25 million tons of US soybeans are covered by a separate annual commitment.
  • Donald Trump and Xi Jinping are set to meet in the US on September 24.

Wheat climbed nearly 2% toward $7.30 per bushel in mid-September, recovering from a three-week low reached on September 18. The move followed weekend trade discussions between US and Chinese officials, including US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng. Bessent called the talks very successful, while Lifeng said they took place in a good atmosphere. President Donald Trump and Chinese President Xi Jinping are scheduled to meet in the US on September 24, with markets focused on whether China will agree to buy more US agricultural products. The Trump administration says Beijing has pledged at least $17 billion in US farm exports, alongside a separate commitment to purchase 25 million tons of US soybeans annually, leaving wheat and other commodities as possible targets for additional agreements.

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