Policy Update
Late last night, President Trump signed a congressional funding measure after the House voted to approve it 222-209, ending the record long federal government shutdown.
Federal judges in both Rhode Island and Massachusetts ruled today that the USDA must use its available contingency-fund reserves to continue providing SNAP benefits during the ongoing federal government shutdown.
Farmers and ranchers already dealing with tight margins may soon face another financial hit: a steep jump in health insurance premiums. The expanded Affordable Care Act (ACA) tax credits that have kept many farm families’ monthly costs manageable are set to expire at the end of the year unless Congress extends them.
China’s state-owned grain trader COFCO has bought three cargoes of U.S. soybeans—roughly 180,000 metric tons—for delivery between December and January, marking the first major Chinese purchase from this year’s U.S. harvest.
Yesterday, the U.S. fertilizer lobby released a statement urging federal leaders to prioritize and accelerate the growth of domestic fertilizer production, which could stabilize input costs for farmers.
U.S. Treasury Secretary Scott Bessent announced that the U.S. and China have reached agreement on the “substantial framework” of a trade deal that includes major agricultural purchases by China, but did not provide detailed numbers.
Trump announced yesterday that the United States is ending trade negotiations with Canada after the province of Ontario aired an advertisement featuring Ronald Reagan’s voice and remarks critical of tariffs.
Yesterday, President Donald Trump publicly told U.S. cattle producers that they’ve been doing well thanks to tariffs on imported beef and that now the administration is floating increasing imports of beef from Argentina as a tool to bring down domestic beef costs.
The USDA is preparing to unlock more than $3 billion in assistance for American farmers that had been held up due to the shutdown. These funds — drawn from the Commodity Credit Corporation — were originally earmarked to help producers affected by plunging crop prices, soaring input costs and export disruptions tied to trade policies.
Amid ongoing trade tensions, China imported zero soybeans from the United States last month, marking the first time since November 2018 that no U.S. shipments arrived.
A vote by the International Maritime Organization (IMO) to approve new carbon‐emission standards for oceangoing ships has been pushed back by one year — a move that aligns with President Trump’s strong opposition to binding global shipping climate rules.