China has bought at least 8 million tons of US soybeans this year, according to people familiar with the matter, putting the world’s top importer on track to meet a pledge made two months ago as part of an apparent trade truce with Washington.

State-owned buyers continued to book shipments to the US until late December, the people said, asking not to be named because they were not authorized to discuss the purchases. That expands a shopping experiencebeginsin October and maintains a measure that reassures American exporters, if not careful that Beijing’s commitment could slip away amid limited visibility and unclear deadlines.

Shipments booked so far are mostly for loading between December and March, the people said.

The White House saidimmediatelyafter talks between President Donald Trump and his Chinese counterpart Xi Jinping that China promised to buy at least 12 million tons of US soybeans by the end of this year. US officials later clarified that the deadline was actually the end of February. Beijing has not confirmed the commitment, but the Chinese government has moved to reduce ittariffsof the crop and lifted the import ban on three American exporters.

The return of Chinese buyers is good news for US exporters, and a reminder that buying patterns can change quickly – but they are not yet a complete reset. Although Beijing has taken shipments to the U.S., state-owned companies have bought more beans from Brazil and Argentina, the people said. Commercial buyers in particular remain on the sidelines when it comes to US purchases.

Almost 80% of Brazil’s soybeans went to China in 2025, with exports through November up 16% compared to last year. That trade continued in December, even at a time when seasonal sales were weak, and Brazil’s future harvest was estimated to be aRECORDS.

“We cannot confirm from the Chinese side that anything more than 12 million tons has been promised,” said Ben Buckner, grain and dairy analyst at AgResource Co. The brokerage wrote in a note this week that China is seeking shipments and could reach a “soft target” of 10 million tons by 2025, with an additional 2 million tons in January.

With no formal agreement confirmed by the two sides, traders say uncertainty over future sales has strengthened pressure on soybean prices. Chicago futures dipped in the final trading session of the year Wednesday, on track to decline about 7% in December, the worst monthly performance since July 2024.

Matt Bennett, a corn and soybean farmer in Illinois, said many farmers have been “pleasantly surprised” by the steady flow of purchases from China so far, but added that there is dismay at the direction of soybean prices.

“From our vantage point, once you estimate they’re going to buy 12 million tons, you need something more than that to motivate everybody,” Bennett, co-founder of farm advisory AgMarket.Net, said in a phone interview.

Trump announced earlier this month$12 billionof relief for US farmers, but farmers are still waiting for the administration to provide details on how much they will get in payments promised in February.

This story was originally featured on Fortune.com

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