TRADE TIDES FEED & ADDITIVE MAGAZINE October 2025 79 ments, including the near-complete Bovaer facility and a new pet food plant. U.S. CONTINUES TO SHAPE GLOBAL MACRO LANDSCAPE Global trade remains clouded by uncertainty amid bold and unpredictable U.S. policy shifts, with negotiations stalled across multiple fronts and no resolution in sight. The latest Trump-Xi talks produced no breakthroughs, pushing expectations to a potential in-person meeting at the APEC summit in late October or early November. Early signals from U.S. negotiators indicate that a meaningful trade deal may even not materialize until 2026. The ongoing Section 301 investigation into Brazil is followed closely, as it could affect this major agri-food trade. In June, the U.S. Environmental Protection Agency (EPA) proposed new Renewable Volume Obligations (RVOs) under the Renewable Fuel Standard (RFS), projecting a 67% increase in biomass-diesel volumes from 3.35 to 5.61 billion gallons for 2025-26. The move has initially supported soybean and oil prices, though the resulting surge in soybean meal output from crushing needs to find outlets in the domestic and export market, weighing on soy meal and animal feed prices, and consequentially risking lower amino acids inclusion. Meanwhile, U.S. soybean sales for the 2025/26 marketing year trailed 40% below the long-run average of 13mmt by late August, with China making no purchases—a repeat of 2019 trade-war patterns. Brazil and Argentina have stepped in to fill China’s soybean demand, while U.S. corn yields are set to hit record levels; U.S. corn exports remain robust, driven by growth in Mexico, Japan, Korea, and Colombia despite the absence of Chinese purchases. Lengthened 2025’s uncertainties and trade barriers have pressured sentiment, prices, production and inventories, and feed additives markets may brace for sudden and heightened volatility from here into H1 2026.
RkJQdWJsaXNoZXIy MTUxNjkxNQ==