CFTC and USDA sign an agreement to share data and watch for risks in US agricultural markets
The memorandum of understanding, announced on November 4, sets out how the futures regulator and the Agriculture Department intend to share information and coordinate policy. It creates no legally binding obligations.
The Commodity Futures Trading Commission (CFTC) and the US Department of Agriculture (USDA) announced on November 4, 2026 that they have signed a memorandum of understanding (MOU) on sharing information and coordinating policy in US agricultural markets.
What the agreement covers
The MOU says the two agencies will try to coordinate and harmonize policies and practices wherever feasible and relevant. It lists five joint aims:
- Sharing information on issues of common regulatory interest, including in connection with a specific incident, event or activity.
- Promoting transparent markets that enable price discovery.
- Increasing access to risk management tools for hedging.
- Fostering access to clearing.
- Sharing information to help both agencies monitor for structural or potential systemic risks.
The document also sets out how information passed between the agencies is handled, including restrictions on disclosing non-public information. Either party may end the MOU on written notice, and information already shared stays confidential after that.
Why the agencies say it matters
The MOU notes that the CFTC originated within the USDA and that the two have historically coordinated from time to time. It says increasingly interconnected markets make it important to identify emerging risks and trends together.
“Faster and more transparent data sharing between USDA and CFTC is critical to helping our farmers and ranchers navigate an ever-changing market,” USDA Secretary Brooke Rollins said in the release. CFTC Chairman Michael S. Selig said the agreement would strengthen protections for farmers, ranchers and producers.
What it means for traders
The MOU says it does not alter either agency’s statutory authority, creates no legally binding obligations and does not require either party to share any information. It describes how the two agencies intend to work together on markets used for hedging and price discovery. For background on how those contracts work, see our guide to how futures contracts work.
The CFTC announced a separate MOU with the National Basketball Association on October 26 (read our brief).
- CFTC Release No. 9321-26: CFTC and USDA Sign MOU to Protect Integrity of American Agricultural Markets
- CFTC-USDA MOU Regarding Coordination and Harmonization in Areas of Common Regulatory Interest
- CFTC Release No. 9314-26: CFTC and National Basketball Association Sign MOU to Protect Integrity in Professional Basketball
Markets: Futures & Options · Energy & Commodities
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