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✅ Welcome to today’s update! We’re covering farm aid, trade talks, beef expansion plans, global wheat crops, and precious metals volatility.

🌾 USDA Resumes Farm Aid
The Trump administration will restart $3 billion in payments through the Farm Service Agency. All FSA offices reopen Thursday, with ARC/PLC and loan programs resuming after the shutdown pause. Brooke Rollins says additional support for farmers impacted by the US–China trade war will follow soon. 

🤝 Trump–Xi Meeting & Soybeans
Trump remains optimistic about a meeting with Xi Jinping later this month in South Korea, though the timing isn’t guaranteed. He said, “Maybe it won’t happen… it’s just business.” Treasury Secretary Scott Bessent meets with Chinese officials this weekend to prepare. No new US soybean sales to China have been reported as tensions persist.

🥩 Beef Expansion Plan
USDA plans to open more land for cattle production and build new processing plants. Rollins says the move will grow the cowherd and reduce beef prices. The plan follows backlash over increased Argentine beef imports.

🌾 Russia’s Wheat Outlook
IKAR raised Russia’s wheat crop forecast slightly to 88 mmt. Exports remain sluggish—down 18% from last year—keeping global wheat prices under pressure. 

🥇 Gold & Silver Slide
Gold plunged 6.3% to $4,105 and silver 8.3%, marking their steepest drops in years. Analysts see $4,000 as key gold support, with Goldman targeting $4,900 by 2026.