Soybean Futures Plummet as U.S.-China Summit Delayed

President Trump cites war with Iran as reason for postponing meeting with Chinese leader Xi Jinping.

Mar. 16, 2026 at 10:48pm

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Soybean futures on the Chicago Board of Trade dropped sharply after President Trump announced he has asked to delay his planned summit meeting with Chinese President Xi Jinping by "a month or so" due to the ongoing war with Iran.

Why it matters

The U.S. and China are the world's two largest economies, and their trade relationship has a significant impact on global commodity markets, including soybeans. Any delay or uncertainty around a high-level meeting between the two leaders can rattle financial markets.

The details

President Trump was expected to meet with Chinese President Xi Jinping in the coming weeks to discuss the ongoing trade dispute between the two countries. However, Trump stated that he has asked to postpone the summit by "a month or so" due to the current war situation with Iran.

  • On Monday, March 16, 2026, soybean futures on the Chicago Board of Trade plunged following Trump's announcement.

The players

Donald Trump

The 45th President of the United States.

Xi Jinping

The President of the People's Republic of China.

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What they’re saying

“I have asked to delay my planned summit meeting with President Xi by a month or so due to the war with Iran.”

— Donald Trump, President of the United States (seekingalpha.com)

What’s next

It remains to be seen when the U.S.-China summit will be rescheduled, and how the delay will impact ongoing trade negotiations between the two countries.

The takeaway

The postponement of the high-level U.S.-China summit adds further uncertainty to the global trade landscape, which is already being impacted by the ongoing war between the U.S. and Iran. This development highlights the interconnected nature of international affairs and their influence on financial markets.