Your Pro Farmer newsletter (May 10, 2025) is now available

The U.S. reached a framework trade deal with the United Kingdom, the first since President Donald Trump enacted his tariffs strategy. Agriculture was featured prominently in the deal, though market impact was muted. Traders are more interested in what happens during a weekend trade meeting between top U.S. and Chinese officials. Though no major breakthroughs are expected, Trump indicated he may reduce tariffs on China if talks go well. Data signals tariffs are already having an effect on the U.S. and Chinese economies – and those impacts could intensify if supply-chain disruptions intensify. The Fed remained in pause mode with monetary policy, as expected, though it signaled risks to inflation and unemployment are elevated. On the ag policy front, economists are not optimistic a new farm bill will be passed this year as the same hurdles with remain with the blame game continuing in Congress. We cover all of these items and much more in this week’s newsletter, which you can download here.