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Latest market news

USDA issues third round of MFP 2019 payments

  • Market: Agriculture, Fertilizers
  • 03/02/20

US farmers will receive a third tranche of direct cash federal aid payments under the US Department of Agriculture's (USDA) 2019 Market Facilitation Program (MFP).

President Donald Trump today authorized the USDA to roll out the third, and final, round of cash payments as part of its $16bn trade aid program, which will start reaching farmers as early as the end of this week, the USDA said.

Today's announcement comes nearly three weeks after China committed to purchase a significant amount of US commodities under a "phase one" trade deal, which includes soybeans, corn and certain fertilizer products. Soybean futures through November 2020 delivery immediately rose by about 4¢/bushel after the USDA announced the final tranche.

Federal aid grew to account for nearly one-quarter of total farmer income in 2019, reaching a 14-year high at $22.4bn, according to the USDA. The burgeoning share last year was driven by MFP payments, which accounted for more than two-thirds of total federal aid disbursed in 2019.

By Connor Hyde

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06/02/26

India to buy $500bn of US energy, other products

India to buy $500bn of US energy, other products

Washington, 6 February (Argus) — India has committed to buying $500bn of US energy commodities, coking coal, aircraft and parts, precious metals and technology products in the next five years, the White House said Friday. A fact sheet detailing the preliminary terms of the US-India trade deal also announces plans by the US to slash the general tariff on imports from India to 18pc from 25pc. President Donald Trump on Friday separately signed an executive order removing an additional 25pc tariff on imports from India, which was imposed in August to pressure New Delhi to cut imports of Russian crude. The US will commit to removing tariffs on some aircraft and parts imported from India, as well as providing some relief for tariffs on steel and copper imports from India, according to the fact sheet , which does not provide a timeline for these actions. The US will also provide a preferential tariff quota for imports of cars and auto parts from India. The US and India also committed to increasing trade in key components underpinning the construction of data servers. India plans to eliminate or reduce tariffs on all US industrial goods and "a wide range" of US agricultural products. The terms of the deal as outlined in the fact sheet will be finalized in further negotiations, according to the White House. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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US soy volatile on possible China buying

06/02/26
News
06/02/26

US soy volatile on possible China buying

St Louis, 6 February (Argus) — US soybean futures contracts briefly spiked early today as the market adjusted to signs that China may again be resuming US soybean purchasing. The May delivered Chicago Board of Trade (CBOT) soybean contract gained $0.174/bushel (bu) within an hour of opening this morning, before shedding those gains and then some, closing the day down by $0.042/bu at $11.28/bu. The May CBOT contract still closed the day slightly above Thursday's closing value, marking the fourth consecutive day of gains this week. Basis gains for new crop soybeans loaded in the Pacific Northwest were also reported today, further support for what market sources tell Argus is Chinese buyers re-engaging with the US. Buyers may have contracted overnight for as many as seven cargoes for April-May loading in the US Gulf, according to sources. Friday's trades follow an unanticipated boost to futures prices on 4 February from a social media post from US president Donald Trump declaring China would increase its US soybean purchases by 8mn t. If China has returned to US soybean markets, it raises questions regarding the outlook for US-Chinese soybean trade going forward. Currently, China has an agreement to purchase 12mn t of US soybeans by the end of this month, and another 25mn t per-year for the next three years. As of 29 January, total US soybean sales to China reached 9.89mn t for this marketing year, with 100,000t sold during that week alone, according to US Department of Agriculture data. This seems to be at odds with US treasury secretary Scott Bessent's claim on 20 January that China had completed its purchases of the first 12mn t. If China did purchase more US soybeans this morning, in line with Trump's claim the country would buy another 8mn t, it is unclear how these sales would tally towards the current agreement. If they are considered an extension of the current 12mn t agreement, then that might mean China will move to secure these volumes before the end of February. If not, they might be added to the 25mn t obligation for 2026. That would put US soybean sales to China at 33mn t for 2026, which would be the most since the 2020-21 marketing year. Either way, Trump's claim and the potential re-engaging of China in US soybean markets is likely to detach the markets understanding of the US-China soybean trade agreement from its stated terms. That could mean more volatility and uncertainty for commodity prices moving forward. By Ryan Koory Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Japan’s Mol commissions new VLGC for TotalEnergies

06/02/26
News
06/02/26

Japan’s Mol commissions new VLGC for TotalEnergies

Tokyo, 6 February (Argus) — Japanese shipping firm Mitsui OSK Lines (Mol) has commissioned a new very large gas carrier (VLGC) for French refiner TotalEnergies to deliver LPG and ammonia, Mol announced today. Mol has delivered the 88,000 m³ Energia Grandeur from South Korean shipbuilder Hyundai Samho Heavy Industries' Mokpo shipyard on 29 January. Mol signed a charter agreement with TotalEnergies' shipping arm CSSA, although the charter period is undisclosed. The VLGC can use LPG as a bunker fuel from a cargo tank because the LPG fuel tank is connected to a cargo tank. It is possible to reduce more than 90pc of sulphur oxides and more than 20pc of CO2 when the vessel uses LPG as a marine fuel compared with conventional fuel oil, Mol said. Japan is currently importing about 10mn t of LPG from overseas to cover 11.5mn t of domestic demand, according to the Japan LPG Association. Meti expects the downward trend will be driven further by technology innovation and highly efficient equipment which can cut users' consumption volumes. But Japan expects demand for ammonia as a fuel to increase to 3mn t/yr by 2030 and to 30mn t/yr by 2050. Japan has set a goal of a 20pc ammonia co-firing rate at domestic coal-fired power generation plants by 2030 and above 50pc by 2050 to achieve the country's 2050 decarbonisation goal. By Reina Maeda Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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E15 'council' convenes without Dem. lawmakers

05/02/26
News
05/02/26

E15 'council' convenes without Dem. lawmakers

New York, 5 February (Argus) — A council of Republican lawmakers tasked with negotiating major changes to US fuel policy held its first meeting Tuesday evening, leaving out Democrats that had pushed for a seat at the table. The US House of Representatives last month punted on a proposal that would have allowed year-round sales of gasoline with up to 15pc ethanol (E15) and restricted how many refiners can win hardship exemptions from annual biofuel mandates. Instead, lawmakers tasked a new "rural domestic energy council" with developing policy recommendations by 15 February in the hopes that Congress will weigh legislation by 25 February. The full council met for the first time Tuesday evening, four people familiar with the matter said. The task force includes more than 20 House Republicans with a range of views on biofuel policy, but no Democrats, two of the people said. The office of House speaker Mike Johnson (R-Louisiana), who was in charge of appointing council members, did not respond to Argus' requests for comment. "My Democratic colleagues and I have been clear about the need for Democratic voices on this council — a concern leadership has so far failed to address," representative Nikki Budzinski (D-Illinois) said. "I will continue to press for real, bipartisan action that our growers deserve." Proposals to expand E15 have historically drawn bipartisan support, particularly from Midwestern lawmakers keen to help the region's farmers. Democrats could still support legislation that includes an E15 deal even if left out of negotiations this month. But some lobbyists close to the debate privately doubt that the council will reach any substantial compromise, especially after the earlier E15 proposal drew strong opposition from mid-sized oil refiners that want to maintain their ability to avoid the costly biofuel quotas. The council includes members from states with those refineries, including Gabe Evans' district (R-Colorado), where a Suncor refining complex is located, while CVR Energy and HF Sinclair have units in council co-chair Stephanie Bice's state (R-Oklahoma). Some Republican US senators that have long wanted deeper reforms to the biofuel mandate program are also skeptical of the earlier proposal, complicating any deal's chance of passage. "The federal government should not force Americans to put ethanol in their gas tanks," senator Mike Lee (R-Utah) said. "It is not good for the economy, the environment or car engines. We should not subsidize the corn industry at the expense of hardworking American families." The latest E15 proposal was developed partly by the American Petroleum Institute — an influential lobby within the Republican Party — and has won the support of larger oil refiners like Valero. Farmers' and fuel groups that support the earlier bill have urged the council to focus narrowly on improving it, rather than considering more divisive fuel market issues too. President Donald Trump, who has backed the biofuel industry with a proposal last year for record-high blend mandates, has made clear that he would sign legislation expanding E15 access. He said in an Iowa speech last month that he was optimistic Congress could strike a deal. It is unclear when the council, which includes a number of farm-state biofuel supporters too, plans to meet again. The large majority of gasoline in the US is sold as a 10pc ethanol blend. Farm advocates have pushed for over a decade to loosen summertime smog rules that forbid sales of higher blends in much of the country without emergency waivers . By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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India’s Hurl seeks fertilizer suppliers in tender

05/02/26
News
05/02/26

India’s Hurl seeks fertilizer suppliers in tender

London, 5 February (Argus) — Indian fertilizer importer and producer Hindustan Urvarak and Rasayan (Hurl) has issued a tender inviting producers and trading firms to enter a memorandum of understanding (MoU) for the supply of various fertilizers until 31 May 2027. The tender closes on 12 February. Hurl is seeking suppliers for the following products: DAP 18-46 NPK 10-26-26 NPS 20-20-0+13S NPK 12-32-16 NPK 15-15-15 MOP MAP 11-52 46pc TSP Hurl has not specified the total quantities of each product that it is seeking for the period. The firm will state its demand on a shipment-by-shipment basis, and suppliers with which Hurl has signed MoUs will be eligible to offer. Individual cargoes will be priced on a cfr basis. Hurl will want deliveries to ports on the east and west coasts of India. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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