However, has there been any progress on other trade deals? With the markets swinging up and down during Monday's trading session, what is happening?
AgDay and U.S. Farm Report reporter Betsy Jibben has the story.
President-elect Jair Bolsonaro, the winner of the runoff, promises to drastically roll back environmental regulations for agriculture, including speeding up deforestation, converting forests into range and cropland.
There's a mysterious and sometimes deadly weather pattern in which the jet stream stalls out over a region. A University of Chicago study explains the blocking phenomenon that has baffled forecasters until now.
USDA's acreage numbers injected a substantial amount of uncertainty into both markets that appears set to stay in place throughout the summer, according to University of Illinois agricultural economist Todd Hubbs.