The American Soybean Association says China’s commitment to purchase at least 25 million metric tons of U.S. soybeans annually through 2028 provides greater market certainty for soybean farmers. The commitment covers 2026, 2027 and 2028 and follows last week’s summit between Presidents Donald Trump and Xi (Zhee) Jinping. ASA President and Ohio soybean farmer Scott Metzger says China remains an important market for U.S. soybeans. “China’s annual commitment to purchase 25 million metric tons of U.S. soybeans provides critical stability, and we expect those commitments to be fully met,” Metzger said. However, ASA says it is disappointed U.S. soybeans were not included among agricultural products receiving additional tariff relief from China. The group says China’s remaining ten percent retaliatory tariff limits access for private importers. The U.S. and China are scheduled to meet twice more before the current trade truce expires January 10.
Welcome
Wednesday, September 30, 2026
U.S. Dairy Welcomes China Tariff Relief Plans
U.S. dairy groups are welcoming plans to include dairy products in tariff reductions under the new U.S.-China Board of Trade. The National Milk Producers Federation and U.S. Dairy Export Council say the development could improve market access for American dairy exporters, although the tariff relief will not take effect immediately. The two governments say implementation will follow their respective domestic laws and processes. NMPF President and CEO Gregg Doud says retaliatory tariffs have put U.S. dairy at a disadvantage in China, and the group wants those tariffs fully removed. U.S. Dairy Export Council President and CEO Krysta Harden says the agreement could give dairy exporters and their customers greater predictability. She also urged the Board of Trade to quickly eliminate remaining retaliatory tariffs. The groups welcomed a two-month extension of the broader U.S.-China tariff truce and say they will continue working to remove trade barriers affecting U.S. dairy exports.
Texas Tech Updates Study Of Foreign Sugar Subsidies
Texas Tech University has released an update to its 2019 report examining government support for sugar industries around the world. The study, authored by Texas Tech’s International Center for Agricultural Competitiveness, examines policies affecting sugar production in 29 countries representing more than 86 percent of global sugar production and 87 percent of exports. The researchers say direct foreign sugar subsidies have nearly doubled since 2005, rising from an average of $770 million to nearly $1.4 billion in 2024. The study also finds every country examined uses import tariffs or quotas to protect its sugar industry. The report says nine countries have ethanol or biofuel blending mandates, while governments play a significant role in setting sugar prices in several countries. The study is intended to provide information for U.S. trade negotiators and lawmakers examining competition in the global sugar market. The researchers say foreign government policies can influence global sugar prices and trade.
Ag Groups Highlight USMCA As North American Talks Continue
U.S., Mexican, and Canadian officials are meeting this week in Calgary, Alberta, as part of the Tri-National Agricultural Accord, with agricultural trade and the future of the USMCA among the issues drawing attention. The Agricultural Coalition for USMCA says trade with Canada and Mexico remains important to U.S. agriculture and rural communities. The coalition says agricultural and seafood exports to the two countries generated $149 billion in economic output in the United States in 2024. Coalition spokesperson Bryan Goodman says the Calgary meetings provide an opportunity for the three countries to address disagreements and identify areas for greater cooperation. The coalition supports renewal of the United States-Mexico-Canada Agreement, which is undergoing a review this year. Goodman says the group hopes discussions during the agricultural accord will contribute to USMCA’s renewal and benefit producers and consumers across all three countries. The accord brings together officials from the three North American trading partners.
Ibach Nominated to Lead USDA Foreign Agricultural Trade
USDA Secretary Brooke Rollins is welcoming President Donald Trump’s nomination of Greg Ibach (EYE-baw) to serve as the next Undersecretary for Trade and Foreign Agricultural Affairs. Ibach, a former Nebraska agriculture director, previously served as USDA Undersecretary for Marketing and Regulatory Programs during the first Trump administration. The White House formally sent his nomination to the Senate. Ibach would succeed Luke Lindberg, who has been appointed Executive Director of the United Nations World Food Program. Rollins congratulated Lindberg, crediting him with helping expand agricultural markets during his tenure, and said he helped the administration cut the agricultural trade deficit by 51 percent, delivered $177 billion in U.S. agricultural exports, established 20 new trade agreements and frameworks, and secured new agricultural purchase commitments. Rollins called Ibach a lifelong producer and proven leader who understands American agriculture from the farm gate to the global marketplace. The Senate will consider Ibach’s nomination to lead USDA’s international trade efforts.
U.S. Ban Officially Takes Effect on $1 Billion in Canadian Imports
The United States has begun banning nearly $1 billion worth of Canadian imports, including certain dairy products, alcoholic beverages, and motorcycles. The restrictions took effect Tuesday and come after Canada imposed retaliatory tariffs on U.S. goods following new American tariffs on Canadian products. The dairy portion includes whey and other dairy-related products. According to trade policy analyst Jacob Jensen, the banned products accounted for about $967 million in Canadian imports in 2025, with alcoholic beverages representing roughly 87 percent of that total. The restrictions add another layer to an already complicated U.S.-Canada trade relationship. The countries conduct about $880 billion in two-way trade annually. The latest action also comes as officials prepare to review the United States-Mexico-Canada Agreement. The ongoing trade dispute has raised questions about the future of the North American trade pact.
Wednesday Watch List
Markets
Wednesday is a busy day for reports, beginning with the Bureau of Economic Analysis' Personal Consumption Expenditure Index for August at 7:30 a.m. CDT. Later at 9:30 a.m. CDT, the Energy Information Administration will release the weekly Petroleum Status Report. Finally, at 11 a.m. CDT, USDA will release both the quarterly Grain Stocks and Small Grains Summary reports, giving a look into grain inventories around the U.S. as of September 1.
Weather
A stalling front and tropical remnant low-pressure center are combining to produce areas of heavy rain from the Central and Southern Plains into the southwestern Midwest for Wednesday. Areas of flooding are ongoing and will continue to develop throughout the day.