President Donald Trump on Thursday removed his 40% tariffs on Brazilian food products, including beef, coffee, cocoa and fruits that were imposed in July to punish Brazil over the prosecution of its former president, Trump ally Jair Bolsonaro.
Trade
Farmer Tariff Aid Shrinking After Trade Deals?
The Deputy Secretary of Agriculture says trade deal negotiations during the government shutdown could impact the possibility of farmer assistance this year. During a call with reporters on Monday, Stephen Vaden said dynamics have changed since the end of September.
China Buys Nearly 1 Million Tons of US Soybeans
China bought at least 14 cargoes of U.S. soybeans on Monday, two traders with knowledge of the deals said, its largest purchase since at least January and the most significant since a summit between President Donald Trump and President Xi Jinping in October.
USDA Data Dump Shows Minimal Soybean Sales to China
New data the Agriculture Department released Friday created serious doubts about whether China will really buy millions of bushels of American soybeans like the Trump administration touted last month after a high-stakes meeting between President Donald Trump and Chinese leader Xi Jinping.
USDA Set for First Crop Data Release Since September
On Friday, the U.S. Department of Agriculture is set to release a hotly anticipated crop report, including the government’s first estimates of the two feed crops since mid-September, before the harvest had taken shape. The agency is also due to release a compiled a list of large daily sales reported by exporters during the shutdown.
China Buys More Brazil Soybeans as US Purchases Stall
China’s purchases of American soybeans appear to have stalled, less than two weeks after the US touted a wide-ranging trade truce that signaled thawing relations between the world’s two biggest economies. At the same time, China’s state trader COFCO’s oilseed unit said on Monday it has signed agreements to purchase Brazilian soybeans, soybean oil, palm oil and other agricultural products, with a total volume of nearly 20 million tons worth over $10 billion.
China Buys US Wheat & Sorghum, Ends Some Soybean Import Suspensions
China has begun modest purchases of U.S. farm products after the leaders of both countries met last week, but traders still await significant soybean buys after the White House said Beijing pledged to buy 12 million tons by year-end.
Supreme Court Appears Skeptical of Trump Tariffs
President Trump’s global tariffs appeared to be on shaky ground after Supreme Court justices expressed skepticism during a hearing on Wednesday about his authority to impose sweeping measures on countries around the world.
China Buys Brazil Soy as US Crop Still Faces 13% Tariff
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.
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.
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.
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.
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 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.
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.
Tariff Revenue to Fund Farmer Bailout, Trump Says
President Donald Trump said Thursday that he will use tariff revenue to offer cash bailouts for farmers who are struggling with trade uncertainty and other economic headwinds.
Soybean Producers Frustrated Over US Support for Argentina
Treasury Secretary Scott Bessent said Wednesday that the U.S. will offer financial support to Argentina to prop up its ailing economy, prompting frustration from soybean producers, for whom Argentina is a key competitor.