USMCA Uncertainty: Trump says the USMCA with Canada and Mexico could expire in 2036 unless renewed, injecting fresh risk into North American trade that matters for farm inputs and exports. Cattle Biosecurity: Texas rolled out free New World screwworm training and certification, but the US’s main sterile-fly facility won’t be fully operational until Nov 2027—raising stakes for producers as cases spread. Energy & Fertilizer Costs: Oil prices slid after a US-Iran peace deal, easing some pressure on energy and fertilizer costs, though markets may stay volatile. Farm Income Mix (UK): UK farm finances were mixed in 2025: livestock income rose while crop revenues fell, with barley and sugar beet hit by lower prices and weaker conditions. Food Supply Strategy (Canada): Prime Minister Carney unveiled a national food strategy with $3B over 10 years aimed at more competition, more local processing, and lower fresh-food prices. Cocoa Cooperation (West Africa): Côte d’Ivoire and Ghana cocoa leaders met in Abidjan to boost collaboration and protect farmer incomes. Aquaculture & Processing Support (Wisconsin/Scotland): Wisconsin announced 2026 grants for meat processors to modernize capacity, while Scotland’s Aquaculture UK opens with a focus on innovation and sea-lice regulation. Market Signals: Rabobank says global dairy supply is moving back toward balance as milk production growth slows.