China will suspend retaliatory tariffs on U.S. imports, including duties on farm goods, after last week’s meeting of the two countries’ leaders, Beijing confirmed on Wednesday, but imports of U.S. soybeans still face a 13% tariff.
Farm Policy News
Trump Admin Still Planning Billions in Farmer Trade Aid
The Trump administration plans to roll out an initial payment of up to $12 billion for farmers hurt by the president’s tariff policies once the government shutdown ends, according to three people familiar with the matter. The finalized amount will come on top of President Donald Trump’s recently announced truce with China.
USDA Will Release Nov. WASDE, Crop Production Reports
The U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) said on Friday that it will release several key agriculture reports in November, including a monthly crop supply and demand report that was not issued in October due to the ongoing U.S. government shutdown.
SNAP Benefits Remain Set to Lapse on Nov. 1
Nearly 42 million people are set to lose food aid due to the second-longest U.S. government shutdown, as Democrats and Republicans in Congress continue to blame each other for a weeks-long legislative stalemate. Neither party was showing signs of changing its position days before funding for SNAP is set to lapse beginning on Saturday.
China to Buy 12 Million Tons of US Soybeans This Year, Bessent Says
Treasury Secretary Scott Bessent said China has agreed to buy 12 million metric tons of soybeans this year. For the next three years, the Asian nation has agreed to buy a minimum of 25 million tons annually, Bessent said on Fox Business.
China Purchases First US Soybeans of the Season
China’s state-owned COFCO bought three U.S. soybean cargoes, two trade sources said, the country’s first purchases from this year’s U.S. harvest, shortly before a summit of leaders Donald Trump and Xi Jinping.
No SNAP Benefits to be Issued Nov. 1, USDA Says
The U.S. Department of Agriculture has posted a notice on its website saying federal food aid will not go out on Nov. 1, raising the stakes for families nationwide as the government shutdown drags on.
China to Make ‘Substantial’ US Soybean Purchases, Bessent Says
China will make ‘substantial’ purchases of US soybeans, Treasury Secretary Scott Bessent said Sunday after talks with Chinese counterparts, in a sign that the relations are thawing ahead of a possible leaders’ meeting.
Half of States to Cut Off SNAP Benefits in November
Millions of low-income Americans will lose access to food aid on Nov. 1, when half of states plan to cut off benefits due to the government shutdown. Twenty-five states told POLITICO that they are issuing notices informing participants of the Supplemental Nutrition Assistance Program that they won’t receive checks next month.
Trump, Cattle Ranchers Beefing over Planned Quadrupling of Argentine Imports
President Donald Trump attacked US cattle ranchers over their criticism of his plan to slash record beef prices by importing significantly more tariff-free meat from Argentina, deepening a quarrel with a group of reliable supporters and raising concerns among ranch-state Republican lawmakers.
USDA Resuming FSA Operations, Commodity Program Payments
Agriculture Secretary Brooke Rollins said President Donald Trump’s administration will resume distributing $3 billion in aid from the Farm Service Agency that had been halted as a result of the three-week-long government shutdown. Rollins also said that agriculture risk coverage and price loss coverage payments and other programs would resume operating.
China Imports No US Soy in September, First Time Since 2018
China imported no soybeans from the U.S. in September, the first time since November 2018 that shipments fell to zero, while South American shipments surged from a year earlier, as buyers shunned American cargoes during the ongoing trade dispute between the world’s two largest economies.
Trump Suggests U.S. Will Buy Argentina Beef to Lower Prices
President Donald Trump said Sunday that the United States could purchase Argentinian beef in an attempt to bring down prices for American consumers. ‘We would buy some beef from Argentina,’ he told reporters aboard Air Force One during a flight from Florida to Washington. ‘If we do that, that will bring our beef prices down.’
Trump Says US Has “a Deal” to Lower Beef Prices
President Donald Trump said his administration had struck an agreement to bring down the price of beef for consumers during an event in the Oval Office on Thursday. Trump didn’t provide details on what the federal effort entailed, but conceded that beef was one area where his efforts to fight inflation hadn’t paid enough dividends.
Immigration Crackdown Hurting Ag, Labor Dept. Concedes
The Trump administration said that its immigration crackdown is hurting farmers and risking higher food prices for Americans by cutting off agriculture’s labor supply. The Labor Department made this case in paperwork documenting a new rule that took effect Oct. 2 that effectively lowers pay for seasonal migrants working in agriculture under the H-2A visa program.
Trump Threatens to End Used Cooking Oil Trade with China
US President Donald Trump said he might stop trade in cooking oil with China, injecting fresh tensions into the relationship between the world’s two largest economies. Trump on Tuesday cast the potential move as retaliation against Beijing for its refusal to buy American soybeans.
Gov’t Shutdown Hits Crucial Tools for Farmers, Commodity Traders
The government shutdown is creating financial heartburn for farmers across the country, stalling the delivery of farm loans, the release of critical market reports and the Trump administration’s plans for cash bailouts.
Trump Promises New 100% Tariff on China by November
President Donald Trump on Friday said he will impose a new 100% tariff on imports from China starting Nov. 1 following Beijing’s decision to tighten exports of critical minerals. The fresh flare-up of U.S.-China tensions leaves a planned meeting between the two countries’ leaders at the end of the month in jeopardy.
Farmer Sentiment Holds Steady as Tariff Support Drops
US farmers are concerned about current economic conditions but are optimistic about the long-term outlook of the agricultural economy, according to survey results released on Oct. 7 by Purdue University and the CME Group.
Farmer Aid Reportedly Delayed by Gov’t Shutdown
The Trump administration has pushed back its plans to roll out economic aid for farmers this week due to the government shutdown, according to four people familiar with the talks. Still, some of the people familiar expect that Trump could go rogue and announce next steps on bailouts this week.