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The warming of ties between the U.S. and China have boosted crop prices, with soybeans hovering near the highest levels since June 2024.

The Trump administration intends to release its long-awaited plan to offer relief for beleaguered farmers early next month, U.S. Agriculture Secretary Brooke Rollins said Nov. 19.

The U.S. Department of Agriculture on Nov. 18 announced the sale of 792,000 tons of soybeans to China for the 2025-2026 marketing year, the biggest daily purchase in two years.

Soybean futures jumped on signals that China is stepping up buying of the oilseed, offering hope for U.S. farmers after purchases appeared to have stalled.

The move comes as President Trump has pivoted to focusing on affordability measures as voters are growing increasingly wary of the economy under his leadership.

The moves to ease trade in cattle come as the Trump administration is looking to provide relief to American consumers with wholesale beef prices surging in recent years.

President Trump asked the Justice Department to start an investigation into the meatpacking industry, accusing it of driving up the price of beef through collusion and other means.

It’s unclear if the next few months will mark a turning point for the struggling farm machinery sector, with minimal details on the U.S.-China trade deal for manufacturers.

The country’s Finance Ministry confirmed it would end tariffs imposed March 4 on soybeans and other U.S. agricultural products including corn, wheat, sorghum and chicken, effective Nov. 10.

The state alleged JBS misled the public about reducing the impact of its operations on the environment. JBS said the settlement “does not reflect an admission of wrongdoing.”