Overview

• Press reports say the Trump administration is considering a package focused on farmers, especially soybean producers, after China imposed roughly 20% duties and halted purchases of the new U.S. crop.
• AgResource and other sources say the Commodity Credit Corporation has about $3 billion available, suggesting payments could slip to December or early 2026 without congressional approval or another funding source.
• Brazil’s trade agency Secex reported a 20.3% year-over-year fall in September exports to the United States, while total exports set a record for the month and the overall surplus shrank due to a one-off $2.4 billion oil platform import from Singapore.
• Brazilian beef exports hit a monthly volume record, with China absorbing a larger share as U.S.-destined shipments fell and Mexico increased purchases.
• Presidents Luiz Inácio Lula da Silva and Donald Trump held a cordial call and appointed negotiators, with U.S. Secretary of State Marco Rubio to discuss the tariff measures with Brazilian economic and foreign ministers.