Overview

• China has made no bulk U.S. soybean purchases since May, even as the new marketing year began Sept. 1, and USDA data show total exports down about 23% with Chinese buys off 51% through July.
• After Argentina suspended its soybean export taxes, Chinese buyers booked more than 1 million tonnes—about 20 cargoes—while Washington explored a $20 billion swap line for Buenos Aires, drawing sharp criticism from farm groups and Sen. Chuck Grassley.
• USDA Secretary Brooke Rollins, visiting Kansas City, said a farmer aid package is being developed and touted efforts to open other markets, as the White House floated using tariff revenue to cushion losses.
• Beijing’s Commerce Ministry urged the U.S. to lift tariffs to restore normal trade, with further reciprocal duties set to take effect in November unless a truce is extended.
• With harvest under way, farmers report falling prices, tight storage and cash‑flow strain as Brazil holds the dominant share of China’s imports and U.S. sales to China remain at zero.