WASHINGTON, D.C. (RFD-TV) — The global grain trade and cattle markets could see a shakeup in the coming weeks as President Donald Trump plans to meet with the Ukrainian President Volodymyr Zelenskyy at the White House on Friday. Trade will be on the agenda, among other issues.
The meeting comes just one day after President Trump announced he spoke at length with Russian President Vladimir Putin about the War in Ukraine, and ways the U.S. and Russia can move forward on trade.
Trump announced that Secretary of State Marco Rubio will meet with Russian officials next week to discuss ending the war, and then he will meet with President Putin at a later date in Hungary.
President Trump is expected to be wheels up for South Korea on October 29.
President Trump Promises to Lower Beef Prices
President Donald Trump says a deal is nearly done on lowering beef prices, but he has not released details. Trump told a White House crowd that the Administration is actively working on beef, and a deal is coming soon that will lower beef prices.
Ag Secretary Brooke Rollins was also on Pennsylvania Avenue this week. Speaking to reporters at the White House, she said the U.S. Department of Agriculture (USDA) is still looking at the size of a potential aid package for farmers. She says they are analyzing the data and noted “a lot of unknowns remain” at this point, according to reports from Agri-Pulse.
Rollins has previously said it is unlikely any support will be finalized while the government shutdown remains in place. She also previously ruled out direct payments to cattle producers, but said USDA is making moves to rebuild the U.S. cattle herd, which is pushing 70-year lows.
“We have to get off this hamster wheel of government payment after government payment after government payment after government payment to these farmers,” Ms. Rollins said to reporters on Thursday, according to a report from The Washington Times. “They don’t want these checks. They want to be able to sell their product.”
Split Focus: Soybeans or Rare Earth Minerals?
Rare earth minerals are front and center in the latest rift with China. Senator Chuck Grassley (R-IA) said that while soybeans are important to U.S. leaders, those rare earth minerals are an even bigger part of the conversation.
“I’m sure rare earth is a higher priority than soybeans,” Sen. Grassley said. “I wish I didn’t have to say that -- but maybe, if I take the entire economy of the United States into consideration, it’s legitimate to express that view, even though it’s not as pro-farmers as it should be.”
President Trump is set to arrive in South Korea later this month for more trade talks. Sen. Grassley told reporters this week he does not feel optimistic that the trip will lead to any solid trade deals for farmers.
Treasury Secretary Scott Bessent told reporters this week the U.S. could extend the tariff pause with China, but only if China scales back its rollout of export controls on those rare earth minerals. Bessent said it all rides on the upcoming trade talks.
Ag trade Quietly Awaits Movement on China
The markets have been quiet, and now, one trader says he and others are just hunkering down until the storm passes.
Tensions have been high recently across the ag trade space, but the markets have primarily held steady this week. One trader says it will likely stay that way until more concrete information about China is revealed.
“The thing is, the market really hasn’t reacted, and I don’t think for the bean market, I don’t think we will react until we see some sort of response from China, and their side is kind of radio silent,” said Garrett Toay with AgTrade Talk. “So yes, the start of the week was very quiet, not only because of the government shutdown to begin with, but then you had bank holidays as well. It was exceptionally quiet in a quiet market.”
It could be some time before we see any action on China’s part. The Supreme Court will take up the legality of President Trump’s tariffs next month. Many traders say any big decisions will likely be on hold until the high court makes its ruling.
Secretary Rollins said there are more potential foreign trade opportunities for unsold American soybeans.
“Just this morning, I’ve already talked to two additional countries that I won’t disclose who they are, that are interested in purchasing,” Rollins told us at White House, tweeted CBS News Reporter Jennifer Jacobs. “For me, as the Secretary of Agriculture, I’m not sure there’s ever been a Secretary of Agriculture who has been more on the front of actually trying to sell some of these products.”
Brooke Rollins says she is talking to multiple countries to negotiate sales of US soybeans. China, the largest export market, has refused to buy from American farmers. "Just this morning, I've already talked to two additional countries that I won't disclose who they are, that are… pic.twitter.com/Cri0fL6tUu
— Jennifer Jacobs (@JenniferJJacobs) October 16, 2025
Most government reports are on hold until the shutdown ends, including many key data reports typically released by the USDA.
“We’re with the government being closed, not just the USDA, but we don’t have a commitment to traders,” he said. “We don’t know what the market positions are. So, I don’t think you’re getting a lot of trading. “You look at the last shutdown in October, volatility really collapses. Traders head for the sidelines, so I don’t necessarily think anyone’s going to assume big risk without knowing what’s really going on in the market, as far as the internal structure. So, that lends the more quiet trade, if you will.”
Analysts say it is hard to get a read on harvests without those numbers, and the industry is having to turn to private reporting and unofficial market signals to understand the current farm economy.
“So, the other thing I think we’ve got to keep our eyes on is harvest progress, 50% roughly around the country,” he said. “Looks pretty open window here the next few days, but we could see a slowdown on the 1st of next week, and that might alleviate some of the storage crunch a bit. So, the crops coming out of there feel like they’re pretty fast. I heard some really good yields, and space might become an issue in parts of the country. So getting a little break might help things here as we go.”
