In a Des Moines Register guest editorial Sen. Charles Grassley, (R-IA), opined that the Phase-One deal is "welcome news" for Iowa farmers who have been impacted by the trade war with China initiated in 2018. Whether farmers will be made whole over and above the $31 billion in Market Facilitation Program support disbursed through 2019 remains to be seen. Soybean futures certainly do not reflect the optimism of politicians and White House advisors. Actual shipments, not promises or orders will demonstrate the commitment of China to trade agreements that invariably “get lost in translation” We should not be surprised if any day now China will invoke the outbreak of 
coronavirus as a justification to delay imports of U.S. commodities while they continue to buy from Latin America. Trade wars are not easy to win nor are they short in duration.
Sen. Grassley correctly maintains that the recently signed USMCA "opens the barn for farmers and workers all along the food supply chain”. Essentially with respect to grains and soybeans there is no specific benefit from the USMCA over NAFTA. Dairy farmers and other sectors of the economy may gain from the re-negotiated agreement but Canada is maintaining production-supply controls with respect to poultry excluding U.S. producers from free-market competition.