Overview

• Beijing has booked no U.S. soybean cargoes this marketing year, and Republican senators briefed by Ambassador David Perdue said China is intentionally withholding purchases.
• Trump said soybeans will be a major topic when he meets Xi at the APEC summit in Gyeongju in about four weeks.
• The president pledged to direct a portion of tariff revenues to temporary support for soybean producers, with specific amounts and timing not yet disclosed.
• After Argentina temporarily rolled back export taxes on grain, traders reported China bought at least 10 Argentine soybean cargoes, further sidelining U.S. supply.
• The administration is arranging roughly a $20 billion lifeline for Argentina, and an AP photo captured a text to Treasury Secretary Scott Bessent warning the move coincided with cheaper Argentine grain to China.