On November 17th, Business Society reported that the White House released a new executive order signed by President Trump, further adjusting the scope of application of "reciprocal tariffs" and excluding some agricultural products from the additional tariffs previously levied under the "Reciprocal Tariff Executive Order."

The new US executive order excludes some agricultural products from additional tariffs, reducing trade barriers. This is expected to boost US soybean exports, increase international demand for soybeans, and support higher spot prices. Combined with recent soybean futures market performance, due to tight global supply and strengthened export expectations, futures prices may be driven up by this positive factor. Rating: The executive order directly benefits US soybeans, a major export agricultural product, reducing tariff costs and enhancing competitiveness, which is a general positive factor, but it only affects some products, not all.

The executive order adjusts the scope of tariff application, excluding additional tariffs on some agricultural products, which benefits US corn exports and may increase international demand, pushing up spot prices. Combined with corn futures market data, improved demand expectations may stimulate bullish sentiment and support a moderate rise in futures prices. Rating Reason: This policy is beneficial to corn exports, but corn is greatly affected by global supply, and the executive order only targets certain products, so its positive impact is slightly weaker than that on soybeans.

The new policy reduces tariffs on some agricultural products, which is expected to lower the export cost of US wheat, increase overseas market demand, and support spot prices. Combined with wheat futures market trends, the export benefits may drive a slight increase in futures prices, but factors such as global inventory levels need to be monitored. Rating Reason: The executive order is beneficial to wheat trade and improves price expectations, but due to the limited scope of the policy and the wheat market's susceptibility to weather and other factors, the strength of the positive impact is moderate.

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