Overview
- Beijing’s 44% tariff imposed in May effectively halted U.S. soybean purchases, with no new-crop orders booked so far this marketing year.
- Trump plans to raise market access at next week’s APEC meeting in Seoul, a priority his aides and Sen. Chuck Grassley say is on the agenda.
- Oxford Economics expects China to skip U.S. cargoes through the current export window and doubts pre-tariff market share will return.
- China has increased buying from Brazil and Argentina, aided by Argentina’s temporary suspension of an export tax that enabled dozens of cargoes.
- U.S. farm groups report falling cash prices and severe stress, with some leaders calling the situation significant and desperate.