11/05/2025 China Confirms Removal of Tariffs on U.S. Ag Goods

11/05/2025 Click Above to Watch the Morning Market Talk Video China Confirms Removal of Tariffs on U.S. Ag Goods On the Grains Soybean futures rallied overnight but didn’t take out highs from the two previous days. Price action remains volatile as traders try to sort out the China demand situation and relative fair value. Corn remains a follower, though price action hasn’t been nearly as volatile since there is no talk of China buying U.S. corn. Wheat modestly eased from its recent gains overnight.China confirmed it would end tariffs imposed March 4 on soybeans and other U.S. ag products including corn, wheat, sorghum and chicken. Beijing is also removing an additional 15% retaliatory levy on U.S. wheat. The ministry confirmed in a separate notice that the 24% tariff on all U.S. products will be suspended for a year. These changes take effect Nov. 10 and are in line with the fact sheet of the trade deal released over the weekend by the White House. A 13% VAT will still be charged for U.S. soybeans. Soybean Export Prices Matter With the one-year truce on soybean tariffs by China, daily export prices will largely determine whether Chinese buyers purchase Brazilian or U.S. supplies….