Overview

• China has not bought U.S. soybeans during the main harvest, pushing prices down as farmers store crops and Illinois growers face losses of up to $64 per acre.
• Treasury Secretary Scott Bessent says the administration will unveil tariff-funded support for farmers on Tuesday and will work with the Farm Credit Bureau on next season’s financing.
• China’s Commerce Ministry signaled soybean buying depends on removal of U.S. tariffs, and Bessent says the issue will be discussed when Trump meets Xi on APEC sidelines later this month.
• U.S. plans for substantial economic support to Argentina coincide with Buenos Aires briefly suspending its export tax and selling more than 2.5 million metric tons of soybeans to China.
• Farmer backlash is intensifying as American Soybean Association president Caleb Ragland calls payments a temporary bandaid, and a reported text to Bessent, widely presumed to be from Agriculture Secretary Brooke Rollins, criticizes the Argentina move for pressuring U.S. prices.