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US Agriculture Department and DOJ Launch Joint Antitrust Probe Into Agribusiness

By  |  September 29, 2025

U.S. Agriculture Secretary Brooke Rollins announced that the federal government will examine companies that supply key farming inputs, including seeds and fertilizers, for possible antitrust violations. The move, which she revealed at a conference in Missouri, immediately rattled markets, driving down the share prices of major North American agribusiness firms, according to Bloomberg.

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    Rollins said the Department of Agriculture and the Department of Justice signed a memorandum of understanding aimed at strengthening oversight of competition in the farm sector. The agreement will allow officials to “take a hard look and scrutinize competitive conditions in the agriculture marketplace, including antitrust enforcement that promotes free market competition.” Per Bloomberg, the decision reflects growing concerns over the high degree of consolidation in the industry.

    Following the remarks, shares of fertilizer producers Nutrien Ltd. and CF Industries Holdings Inc. each fell more than 3%, while Mosaic Co. dropped nearly 5% before partially recovering. Corteva Inc., a leading supplier of genetically modified seeds and crop protection products, tumbled as much as 5.3%. According to Bloomberg, the declines underscored investor anxiety as farmers face mounting costs for essential goods, a trend exacerbated by tariffs imposed under former President Donald Trump.

    Read more: Prospects for U.S. Agriculture in the Face of Trade Policy Uncertainty in 2025

    Rollins also highlighted the risks of “undue foreign influence,” noting that much of the fertilizer supply chain remains dependent on overseas production. Her comments come at a time when American farmers are grappling with rising expenses for fertilizers, machinery, and other inputs, as well as weak crop prices and reduced demand from China for U.S. soybeans.

    The probe adds to a broader debate over concentration in agriculture. The Biden administration launched a competition initiative in 2021 to address consolidation among seed, fertilizer, and equipment makers, though that effort was reversed earlier this year by Trump. Still, last year the Biden White House committed $500 million to expand domestic fertilizer production to ease cost pressures on farmers. A USDA study in 2023 found that just two companies supplied nearly three-quarters of U.S. corn seed, highlighting the limited competition in the market.

    Source: Bloomberg