Policy Updates

Trump administration officials are standing firm after a tense Supreme Court oral argument this week cast doubt on the legality of the president’s sweeping tariff authority.

During oral arguments yesterday, multiple justices challenged the argument that the president may impose sweeping tariffs under the International Emergency Economic Powers Act (IEEPA) of 1977.

China has confirmed that beginning November 10, it will suspend retaliatory tariffs but will retain the 10% levy and 13% tariff on U.S. soybeans.

The USDA has announced it will use its contingency fund to cover November benefits for the Supplemental Nutrition Assistance Program (SNAP), but only at a reduced level.

The USDA has confirmed that it will publish a long-awaited crop supply and demand report on November 14 — despite the ongoing federal government shutdown that halted the regular October release.

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.