Overview

• USDA data show China has not bought U.S. soybeans since May, leaving a large harvest with few outlets and raising storage concerns.
• Chinese importers secured sizable Argentine cargoes after a temporary suspension of Argentina’s grain export taxes, pushing orders to multi‑year highs during the U.S. selling window.
• An AP image captured Bessent reading a message attributed to Agriculture Secretary Brooke Rollins warning that Argentina’s cheaper soy to China undercut U.S. farmers.
• Senate Majority Leader John Thune said growers will likely need federal assistance this year, with a tariff‑funded relief plan discussed but not yet proposed.
• President Trump suggested using tariff revenue to pay farmers as major agriculture groups and Republicans such as Sen. Chuck Grassley objected to aiding Argentina while U.S. market share erodes.