December corn closed up 3/4 cents and March corn was up 1/2 cents. November soybeans closed up 12 1/4 cents and January soybeans were up 13 1/4 cents. December KC wheat closed down 1 1/2 cents, December Chicago wheat was up 1 cent, December MIAX Minneapolis wheat was unchanged.

Grain markets were sluggish to begin the new week with corn and wheat futures both hitting chart resistance in their path to higher prices. Meanwhile, the soybean complex moved firmly higher again to open the week following a weekend agreement between U.S. and Chinese officials to reopen the dialogue on trade, with more talks planned for later this week ahead of the meeting between President's Trump and Xi at the end of the month. The trade optimism was alive in outside markets as well, with equities higher. However, lower energy markets continue to serve as a headwind to agricultural commodities, with crude oil falling ever closer to the May low to start the week.

The live cattle complex is luckily trading higher early this week, as traders seem to be moving past the emotion turmoil that ran rampant throughout the marketplace on Friday as President Trump stated that he wants beef prices to cheapen. New showlists appear to be lower in all major feeding areas again this week.

After closing lower Friday afternoon, the lean hog complex is back to trading slightly higher, closing mixed, as the market could be finding some technical footing and luckily pork demand was up slightly this morning.&nbsp;

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/06194004/30001.mp3">Click Here for Audio</a>

Grains:December corn closed up 3/4 cents and March corn was up 1/2 cents. November soybeans closed up 12 1/4 cents and January soybeans were up 13 1/4 cents. December KC wheat closed down 1 1/2 cents, December Chicago wheat was up 1 cent, December MIAX Minneapolis wheat was unchanged.Grain markets were sluggish to begin the new week with corn and wheat futures both hitting chart resistance in their path to higher prices. Meanwhile, the soybean complex moved firmly higher again to open the week following a weekend agreement between U.S. and Chinese officials to reopen the dialogue on trade, with more talks planned for later this week ahead of the meeting between President's Trump and Xi at the end of the month. The trade optimism was alive in outside markets as well, with equities higher. However, lower energy markets continue to serve as a headwind to agricultural commodities, with crude oil falling ever closer to the May low to start the week.Livestock:The live cattle complex is luckily trading higher early this week, as traders seem to be moving past the emotion turmoil that ran rampant throughout the marketplace on Friday as President Trump stated that he wants beef prices to cheapen. New showlists appear to be lower in all major feeding areas again this week.After closing lower Friday afternoon, the lean hog complex is back to trading slightly higher, closing mixed, as the market could be finding some technical footing and luckily pork demand was up slightly this morning.&nbsp;<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/06194004/30001.mp3">Click Here for Audio</a>

Commodity markets daily recap

The federal government shutdown has continued, resulting in another week without the USDA publishing a Crop Progress report. According to a Reuters poll of 10 analysts, the U.S. corn harvesting progress lagged behind last year’s pace. On average, the analysts estimated that 44% of the U.S. corn crop had been harvested as of Sunday, with estimates ranging from 35% to 55% for corn. 

Here’s a closer look at the corn crop progress in Iowa, Illinois, and Nebraska through the perspective of local agronomists:

In Iowa, Eric Wilson, Wyffels agronomy manager, shared that corn harvest is moving quickly, with some farmers in his area nearing the end of corn harvest.

Phil Krieg, agronomy service representative for Syngenta Crop Protection in Illinois, shared that corn harvest is 60% complete.

Travis Gustafson, agronomic service representative for Syngenta Crop Protection in Nebraska, estimated that 10–15% of corn has been harvested.

The federal government shutdown has continued, resulting in another week without the USDA publishing a Crop Progress report. According to a Reuters poll of 10 analysts, the U.S. corn harvesting progress lagged behind last year’s pace. On average, the analysts estimated that 44% of the U.S. corn crop had been harvested as of Sunday, with estimates ranging from 35% to 55% for corn. Here’s a closer look at the corn crop progress in Iowa, Illinois, and Nebraska through the perspective of local agronomists:In Iowa, Eric Wilson, Wyffels agronomy manager, shared that corn harvest is moving quickly, with some farmers in his area nearing the end of corn harvest. Phil Krieg, agronomy service representative for Syngenta Crop Protection in Illinois, shared that corn harvest is 60% complete. Travis Gustafson, agronomic service representative for Syngenta Crop Protection in Nebraska, estimated that 10–15% of corn has been harvested.-NAFB

Agronomists Share Corn Harvest Insights Amid USDA Reporting Pause

The top Senate Republican is privately warning the White House that American farmers — a key GOP constituency — will continue to suffer if the Trump administration doesn’t reopen the flow of certain farm loans amid the government shutdown. 

Senate Majority Leader John Thune is quietly pressing the administration officials to let farmers continue to access Marketing Assistance Loans, which allow them to meet cash flow needs during harvest season and as they make planting decisions for next year, according to four people with direct knowledge of the conversations, including two Trump officials. 

Politico reports that would also require USDA to reopen thousands of shuttered county Farm Service Agency offices across the country in order to facilitate those loans. So far, administration officials say they have no plans to shift other money around for the agriculture loans like they’ve done with troop pay and other priorities. “We’re working that issue, and I hope to get an answer soon,” Thune said in a brief interview Thursday.&nbsp;

The top Senate Republican is privately warning the White House that American farmers — a key GOP constituency — will continue to suffer if the Trump administration doesn’t reopen the flow of certain farm loans amid the government shutdown. Senate Majority Leader John Thune is quietly pressing the administration officials to let farmers continue to access Marketing Assistance Loans, which allow them to meet cash flow needs during harvest season and as they make planting decisions for next year, according to four people with direct knowledge of the conversations, including two Trump officials. Politico reports that would also require USDA to reopen thousands of shuttered county Farm Service Agency offices across the country in order to facilitate those loans. So far, administration officials say they have no plans to shift other money around for the agriculture loans like they’ve done with troop pay and other priorities. “We’re working that issue, and I hope to get an answer soon,” Thune said in a brief interview Thursday.&nbsp;-NAFB

Thune Urges Trump to Open Up Farm Loans

Kansas officials issued a public notice after testing confirmed the invasive Asian longhorned tick was identified in Franklin County and posed an emerging threat to animal and human health. Successful Farming reports this was the first known detection in Kansas of the prolific tick, which afflicts wildlife, pets, and livestock. 

The tick is a hazard for cattle as it infects red and white blood cells and causes weakness, fever, loss of appetite, and even death. The reddish-brown tick is known to carry a variety of pathogens and has proven efficient at establishing populations in new areas due to its ability to reproduce without mating. In Asia, the tick has transmitted a virus causing human hemorrhagic fever. 

“Right now, our concern is mainly for cattle,” said Gregg Hanzlicek, a Kansas State University professor.&nbsp;&nbsp;“But like any tick, people should take precautions: wear long sleeves, use insect repellent, and check for ticks after being in grassy or wooded areas.”

Kansas officials issued a public notice after testing confirmed the invasive Asian longhorned tick was identified in Franklin County and posed an emerging threat to animal and human health. Successful Farming reports this was the first known detection in Kansas of the prolific tick, which afflicts wildlife, pets, and livestock. The tick is a hazard for cattle as it infects red and white blood cells and causes weakness, fever, loss of appetite, and even death. The reddish-brown tick is known to carry a variety of pathogens and has proven efficient at establishing populations in new areas due to its ability to reproduce without mating. In Asia, the tick has transmitted a virus causing human hemorrhagic fever. “Right now, our concern is mainly for cattle,” said Gregg Hanzlicek, a Kansas State University professor.&nbsp;&nbsp;“But like any tick, people should take precautions: wear long sleeves, use insect repellent, and check for ticks after being in grassy or wooded areas.”-NAFB

Kansas Health, Agriculture Officials Warn About Presence of Invasive Asian Longhorned Tick

December corn closed up 3/4 of a cent and March corn was up 1 cent. November soybeans closed up 8 3/4 cents and January soybeans were up 8 1/4 cents. December KC wheat closed up 2 3/4 cents, December Chicago wheat was up 1 1/4 cents, December Minneapolis wheat was down 1 cent.

December corn closed up 9 1/2 cents and March corn was up 7 1/2 cents. November soybeans closed up 12 3/4 cents and January soybeans were up 13 1/2 cents. December KC wheat closed up 8 1/2 cents, December Chicago wheat was up 5 1/4 cents and December Minneapolis wheat was down 3 1/4 cents.

Corn, soy, and wheat markets continued their weekly recovery efforts, gaining back losses from last week's trade-war-induced selloff. President Trump said early Friday he still plans to meet with China's President Xi in South Korea at the end of the month, ahead of a Nov. 1 target date to potentially raise tariffs against China in response to recent restrictions imposed on rare-earth exports by China. This is providing some optimism to traders that, as was the case through the summer, an extension of the previous "trade truce" will be achieved, although how soybeans and other key ag exports will fare in any such agreement remains in the balance. Stock indices were higher following the president's comments, while higher gasoline and diesel prices for Friday also supported corn and soy futures.

It was a tumultuous session for the live cattle complex, as the market opened in a panicked manner, as on Thursday afternoon, President Trump shared that the administration is going to do something about beef prices being too high. Although no specific details have been shared just yet, there's a belief that some sort of deal could have been done with Argentina, as President Trump just met with their President, Javier Milei, at the White House. This comes at such an un-opportunistic time as the fed cash cattle market is trading anywhere from $5.00 to $9.00 higher, which should have a bolstering effect on the market, but this looming news has clouded that positive fundamental achievement. This news development has been gut-wrenching for the market as the cattle complex was just in the middle of adding another record-breaking high to the complex's already impressive rally, but this development has completely shaken the complex.

It comes as no real surprise that the news from President Trump about a potential fix on beef prices being too high sent the feeder cattle complex limit lower in all of its contracts except the soon-to-expire October 2025 contract. This news development has been gut-wrenching for the market as the cattle complex was just in the middle of adding another record-breaking high to the complex's already impressive rally, but this development has completely shaken the complex.

The lean hog complex traded mostly higher, although a couple of the nearby contracts traded slightly lower. The market's positive turn could be partly because of the uptick in pork cutout prices, but it could also be that traders believe the market has traded lower enough for the time being.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/17141317/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 3/4 of a cent and March corn was up 1 cent. November soybeans closed up 8 3/4 cents and January soybeans were up 8 1/4 cents. December KC wheat closed up 2 3/4 cents, December Chicago wheat was up 1 1/4 cents, December Minneapolis wheat was down 1 cent.For the Week:December corn closed up 9 1/2 cents and March corn was up 7 1/2 cents. November soybeans closed up 12 3/4 cents and January soybeans were up 13 1/2 cents. December KC wheat closed up 8 1/2 cents, December Chicago wheat was up 5 1/4 cents and December Minneapolis wheat was down 3 1/4 cents.Corn, soy, and wheat markets continued their weekly recovery efforts, gaining back losses from last week's trade-war-induced selloff. President Trump said early Friday he still plans to meet with China's President Xi in South Korea at the end of the month, ahead of a Nov. 1 target date to potentially raise tariffs against China in response to recent restrictions imposed on rare-earth exports by China. This is providing some optimism to traders that, as was the case through the summer, an extension of the previous "trade truce" will be achieved, although how soybeans and other key ag exports will fare in any such agreement remains in the balance. Stock indices were higher following the president's comments, while higher gasoline and diesel prices for Friday also supported corn and soy futures.LIVESTOCK:It was a tumultuous session for the live cattle complex, as the market opened in a panicked manner, as on Thursday afternoon, President Trump shared that the administration is going to do something about beef prices being too high. Although no specific details have been shared just yet, there's a belief that some sort of deal could have been done with Argentina, as President Trump just met with their President, Javier Milei, at the White House. This comes at such an un-opportunistic time as the fed cash cattle market is trading anywhere from $5.00 to $9.00 higher, which should have a bolstering effect on the market, but this looming news has clouded that positive fundamental achievement. This news development has been gut-wrenching for the market as the cattle complex was just in the middle of adding another record-breaking high to the complex's already impressive rally, but this development has completely shaken the complex.It comes as no real surprise that the news from President Trump about a potential fix on beef prices being too high sent the feeder cattle complex limit lower in all of its contracts except the soon-to-expire October 2025 contract. This news development has been gut-wrenching for the market as the cattle complex was just in the middle of adding another record-breaking high to the complex's already impressive rally, but this development has completely shaken the complex. The lean hog complex traded mostly higher, although a couple of the nearby contracts traded slightly lower. The market's positive turn could be partly because of the uptick in pork cutout prices, but it could also be that traders believe the market has traded lower enough for the time being. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/17141317/web-closing-markets.mp3">Click HERE for audio</a>

High premiums on Brazilian cargoes are discouraging soybean buyers in China, which means the country has yet to secure much of its needed soybean supply for December and January. Reuters says the development could prompt the Chinese government to tap state reserves to meet the near-term needs. China covered its needs through November with hefty buys from Argentina in recent weeks, but still needs eight to nine million metric tons for December and January. 

Escalating Washington-Beijing trade tensions continue to shut American soybeans from the market. “China isn’t buying U.S. beans because of the trade war, and Brazilian beans have become too expensive,” one oilseed trader at an international trading company that supplies agricultural products to China told Reuters anonymously. “China might end up using its own reserves for its year-end needs and into early next year, and will wait until the new South American harvest comes in.” 

High premiums on Brazilian cargoes are discouraging soybean buyers in China, which means the country has yet to secure much of its needed soybean supply for December and January. Reuters says the development could prompt the Chinese government to tap state reserves to meet the near-term needs. China covered its needs through November with hefty buys from Argentina in recent weeks, but still needs eight to nine million metric tons for December and January. Escalating Washington-Beijing trade tensions continue to shut American soybeans from the market. “China isn’t buying U.S. beans because of the trade war, and Brazilian beans have become too expensive,” one oilseed trader at an international trading company that supplies agricultural products to China told Reuters anonymously. “China might end up using its own reserves for its year-end needs and into early next year, and will wait until the new South American harvest comes in.” -NAFB

China holding off on Brazil soybean purchases

The Federal Reserve Bank of Kansas City launched the Center for Agriculture and the Economy. This initiative underscores the Bank’s ongoing commitment to including perspectives from agriculture and rural areas in discussions on the national economy. “For many years, the Kansas City Fed has provided critical insights into one of the nation’s most vital industries, which is agriculture,” said Jeff Schmid, president and CEO of the Kansas City Fed. “The establishment of the Center formally recognizes our District’s investment in the area and highlights the vital importance that we place on gathering insights from all of those who have a role in the ag economy.” 

The new Center will serve as a resource within the Federal Reserve System by providing timely analysis of industry developments and conducting ongoing research on the agricultural economy and the rural regions where production predominates. Production agriculture is central to the Tenth District’s overall economy. 

The Federal Reserve Bank of Kansas City launched the Center for Agriculture and the Economy. This initiative underscores the Bank’s ongoing commitment to including perspectives from agriculture and rural areas in discussions on the national economy. “For many years, the Kansas City Fed has provided critical insights into one of the nation’s most vital industries, which is agriculture,” said Jeff Schmid, president and CEO of the Kansas City Fed. “The establishment of the Center formally recognizes our District’s investment in the area and highlights the vital importance that we place on gathering insights from all of those who have a role in the ag economy.” The new Center will serve as a resource within the Federal Reserve System by providing timely analysis of industry developments and conducting ongoing research on the agricultural economy and the rural regions where production predominates. Production agriculture is central to the Tenth District’s overall economy. -NAFB

Kansas City Fed launches Center for Agriculture and the Economy

December corn closed up 5 cents and March corn was up 3 1/4 cents. November soybeans closed up 4 1/4 cents and January soybeans were up 4 1/4 cents. December KC wheat closed up 1/2 cents, December Chicago wheat was up 3 3/4 cents, December Minneapolis wheat was down 1 1/2 cents.

Corn, soybean and (for the most part) wheat markets were higher on Thursday as traders continue to speculate how far production in 2025 could fall from prior estimates amid talk of lower-than-expected yields. Compounding that effect were reminders this week that the demand for U.S. grains and oilseeds remains very strong, especially within the U.S. Outside markets were mixed on Thursday as renewed trade war concerns are weighing on equities, with the Dow Jones Industrial Average down for the seventh time in the past ten session. Energy markets are also lower, closing in on May lows for crude oil futures.

With the anticipation that fed cash cattle prices will trade higher again this week; traders continued to push the live cattle contracts at least softly higher into Thursday's closing bell. Again, today it's the market's deferred contacts that are seeing the biggest day-over-day gains as everyone in the industry is clearly recognizing that although supplies are thin now, they're going to become even thinner before the cowherd is rebuilt. A few bids are now on the table in the North, where packers are offering $370 for dressed cattle. But at this point, still no cash cattle have traded. Asking prices are set in the South at $240 plus, and in eastern Nebraska at $380.

The feeder cattle complex also traded higher into Thursday's close as traders continue to believe in the market's positive long-term fundamentals. Demand has been utterly incredible this week in sales across the countryside, as shown by the CME feeder cattle index's rally, which reached a new all-time high Wednesday afternoon at $374.47.

The lean hog complex was again trading lower as the market simply isn't seeing the fundamental support it needs to give traders enough confidence that the contracts should trade steady to somewhat higher. Yes, pork cutout values may be a tick stronger, but overall demand has been volatile, and traders want steadfast confidence.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/16140939/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 5 cents and March corn was up 3 1/4 cents. November soybeans closed up 4 1/4 cents and January soybeans were up 4 1/4 cents. December KC wheat closed up 1/2 cents, December Chicago wheat was up 3 3/4 cents, December Minneapolis wheat was down 1 1/2 cents.Corn, soybean and (for the most part) wheat markets were higher on Thursday as traders continue to speculate how far production in 2025 could fall from prior estimates amid talk of lower-than-expected yields. Compounding that effect were reminders this week that the demand for U.S. grains and oilseeds remains very strong, especially within the U.S. Outside markets were mixed on Thursday as renewed trade war concerns are weighing on equities, with the Dow Jones Industrial Average down for the seventh time in the past ten session. Energy markets are also lower, closing in on May lows for crude oil futures.LIVESTOCK:With the anticipation that fed cash cattle prices will trade higher again this week; traders continued to push the live cattle contracts at least softly higher into Thursday's closing bell. Again, today it's the market's deferred contacts that are seeing the biggest day-over-day gains as everyone in the industry is clearly recognizing that although supplies are thin now, they're going to become even thinner before the cowherd is rebuilt. A few bids are now on the table in the North, where packers are offering $370 for dressed cattle. But at this point, still no cash cattle have traded. Asking prices are set in the South at $240 plus, and in eastern Nebraska at $380.The feeder cattle complex also traded higher into Thursday's close as traders continue to believe in the market's positive long-term fundamentals. Demand has been utterly incredible this week in sales across the countryside, as shown by the CME feeder cattle index's rally, which reached a new all-time high Wednesday afternoon at $374.47.The lean hog complex was again trading lower as the market simply isn't seeing the fundamental support it needs to give traders enough confidence that the contracts should trade steady to somewhat higher. Yes, pork cutout values may be a tick stronger, but overall demand has been volatile, and traders want steadfast confidence. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/16140939/web-closing-markets.mp3">Click HERE for audio</a>

Representatives Elise Stefanik and Rick Crawford have reintroduced the Promoting Agriculture Safeguards and Security Act that will protect U.S. national security by prohibiting foreign adversaries from purchasing or controlling American agricultural land and businesses. “Food security is national security, and I’m proud to reintroduce this legislation that will stand up against our foreign adversaries as they attempt to control our agriculture industry,” Stefanik said. “The U.S. cannot allow ownership bids of assets by communist China, Russia, Iran, and North Korea to undermine the efforts of our farmers, who work hard to feed and fuel our communities.” 

The PASS Act will ensure that the USDA is involved in reviewing foreign acquisitions of American agricultural land and businesses, and blacklists America’s foreign adversaries from controlling U.S. agricultural land. Representative Crawford added, “U.S. agriculture is a critical industry with real and significant impacts on our national security.”   

Representatives Elise Stefanik and Rick Crawford have reintroduced the Promoting Agriculture Safeguards and Security Act that will protect U.S. national security by prohibiting foreign adversaries from purchasing or controlling American agricultural land and businesses. “Food security is national security, and I’m proud to reintroduce this legislation that will stand up against our foreign adversaries as they attempt to control our agriculture industry,” Stefanik said. “The U.S. cannot allow ownership bids of assets by communist China, Russia, Iran, and North Korea to undermine the efforts of our farmers, who work hard to feed and fuel our communities.” The PASS Act will ensure that the USDA is involved in reviewing foreign acquisitions of American agricultural land and businesses, and blacklists America’s foreign adversaries from controlling U.S. agricultural land. Representative Crawford added, “U.S. agriculture is a critical industry with real and significant impacts on our national security.” -NAFB

Agriculture Safeguards and Security Act reintroduced in congress

The National Farmers Union recently sent letters to President Trump and Congressional leaders urging immediate action to provide economic relief to family farmers and ranchers facing deteriorating economic conditions. NFU emphasized that aid should reach the family farm operations that need it most. The group also asked for parallel efforts to rebuild fair markets and curb corporate consolidation in agriculture. “Family farmers and ranchers face severe economic challenges and a deepening crisis if they don’t receive assistance,” said NFU President Rob Larew. 

Larew emphasized that aid payments must be directed to family agricultural operations and balanced among regions and crops. The payments must be paired with efforts to investigate monopolies in the agriculture industry and their resulting impacts on the farm economy. Resources must also be dedicated to developing new and enhanced domestic markets for American crops while enhancing existing markets, including markets at the local and regional level. 

The National Farmers Union recently sent letters to President Trump and Congressional leaders urging immediate action to provide economic relief to family farmers and ranchers facing deteriorating economic conditions. NFU emphasized that aid should reach the family farm operations that need it most. The group also asked for parallel efforts to rebuild fair markets and curb corporate consolidation in agriculture. “Family farmers and ranchers face severe economic challenges and a deepening crisis if they don’t receive assistance,” said NFU President Rob Larew. Larew emphasized that aid payments must be directed to family agricultural operations and balanced among regions and crops. The payments must be paired with efforts to investigate monopolies in the agriculture industry and their resulting impacts on the farm economy. Resources must also be dedicated to developing new and enhanced domestic markets for American crops while enhancing existing markets, including markets at the local and regional level. -NAFB

Farmers union asking for relief for family farms and ranches

December corn closed up 3 3/4 cents and March corn was up 3 cents. November soybeans closed unchanged and January soybeans were unchanged as well. December KC wheat closed down 1/4 cents, December Chicago wheat was down 1 1/2 cents, December Minneapolis wheat was down 2 1/2 cents.

For the most part, grains and oilseed markets were steady to slightly higher at midweek as traders continue to form price opinions without input from USDA and other government agency reports. The latest development in the U.S.-China trade war was President Trump's comments late Tuesday that the U.S. is preparing to restrict Chinese imports on goods such as cooking oil in retaliation to the boycott of U.S. soybeans, which supported U.S. soybean oil futures on Wednesday. Meanwhile, equity markets were higher, more-or-less recovering losses from last week's trade scare as investors continue to shrug off greater trade war concerns. Energy markets were lower again Wednesday, with crude oil futures closing in once again on May lows which were at the time the lowest price in over four years.

Following the tremendous gains seen earlier this week, the live cattle complex traded mixed as traders appear more cautious, seeming to need more fundamental support to develop before they'll advance the contracts any higher. Still no cash cattle trade has developed, but it is assumed that feedlot managers are going to aim for higher prices again this week. No bids have surfaced yet, and it's assumed that the market won't see some trade develop until Thursday or Friday. Asking prices are noted at $240 plus in the South.

The feeder cattle complex has been one of the biggest driving factors in the cattle market's recent rally, but it also traded mixed into Wednesday's closing bell, as traders have seemed to notice the immense gains the market has seen recently and want to see more fundamental support arise before they push the market any higher.

The lean hog complex traded higher as the futures seemed to find some footing in the marketplace after plummeting lower on Wednesday. Thankfully, the market is trading further away from its support plane at $82.00, which was a concern heading into the day as traders haven't been overly supportive of the market this week. But with a little improvement in the cash market, traders feel as though the market has traded lower enough for the near term.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/15135459/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 3 3/4 cents and March corn was up 3 cents. November soybeans closed unchanged and January soybeans were unchanged as well. December KC wheat closed down 1/4 cents, December Chicago wheat was down 1 1/2 cents, December Minneapolis wheat was down 2 1/2 cents.For the most part, grains and oilseed markets were steady to slightly higher at midweek as traders continue to form price opinions without input from USDA and other government agency reports. The latest development in the U.S.-China trade war was President Trump's comments late Tuesday that the U.S. is preparing to restrict Chinese imports on goods such as cooking oil in retaliation to the boycott of U.S. soybeans, which supported U.S. soybean oil futures on Wednesday. Meanwhile, equity markets were higher, more-or-less recovering losses from last week's trade scare as investors continue to shrug off greater trade war concerns. Energy markets were lower again Wednesday, with crude oil futures closing in once again on May lows which were at the time the lowest price in over four years.LIVESTOCK:Following the tremendous gains seen earlier this week, the live cattle complex traded mixed as traders appear more cautious, seeming to need more fundamental support to develop before they'll advance the contracts any higher. Still no cash cattle trade has developed, but it is assumed that feedlot managers are going to aim for higher prices again this week. No bids have surfaced yet, and it's assumed that the market won't see some trade develop until Thursday or Friday. Asking prices are noted at $240 plus in the South.The feeder cattle complex has been one of the biggest driving factors in the cattle market's recent rally, but it also traded mixed into Wednesday's closing bell, as traders have seemed to notice the immense gains the market has seen recently and want to see more fundamental support arise before they push the market any higher. The lean hog complex traded higher as the futures seemed to find some footing in the marketplace after plummeting lower on Wednesday. Thankfully, the market is trading further away from its support plane at $82.00, which was a concern heading into the day as traders haven't been overly supportive of the market this week. But with a little improvement in the cash market, traders feel as though the market has traded lower enough for the near term.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/15135459/web-closing-markets.mp3">Click HERE for audio</a>

The U.S. has traditionally had a healthy agricultural trade surplus for years. As global dynamics change due to multiple political and economic factors, U.S. agricultural imports now exceed exports. A new study says the deficit is likely to get worse in the years ahead. University of Illinois and Texas Tech University researchers say the U.S. is importing much more than it exports. 

From 2017 to 2018, the dispute between the U.S. and China resulted in export values dropping by $9 billion (73 percent) for soybeans, $432 million (67 percent) for wheat, $93 million (61 percent) for corn, and $313 million (37 percent) for sorghum. The total value of lost agricultural exports amounted to approximately $14 billion. At the same time, the U.S. is losing export markets to other large grain producers like Brazil, Canada, Australia, and Ukraine. The only good news is that the U.S. is actively working on new trade agreements. 

The U.S. has traditionally had a healthy agricultural trade surplus for years. As global dynamics change due to multiple political and economic factors, U.S. agricultural imports now exceed exports. A new study says the deficit is likely to get worse in the years ahead. University of Illinois and Texas Tech University researchers say the U.S. is importing much more than it exports. From 2017 to 2018, the dispute between the U.S. and China resulted in export values dropping by $9 billion (73 percent) for soybeans, $432 million (67 percent) for wheat, $93 million (61 percent) for corn, and $313 million (37 percent) for sorghum. The total value of lost agricultural exports amounted to approximately $14 billion. At the same time, the U.S. is losing export markets to other large grain producers like Brazil, Canada, Australia, and Ukraine. The only good news is that the U.S. is actively working on new trade agreements. -NAFB

Study shows agriculture exports faltering

The National FFA Organization is one of six national organizations to receive a $10 million grant from Lily Endowment, Inc. The grants are being awarded through the latest round of Lily Endowment’s initiative, called the “Character Through Youth Programs,” which helps youth-serving organizations with a nationwide reach create, test, implement, and sustain strategies that support character development in young people ages five to 18. 

“The organizations like National FFA have a long history of supporting young people and helping them grow into healthy, resilient adults,” said Ted Maple, Lily Endowment’s vice president for education and youth programs. “With their distinctive missions and programs, they are embarking on new creative and strategic approaches to support youth-serving organizations through the first round of the initiative.” Ambra Tennery, director of education programs in the programs and events division for the National FFA Organization, said, “We are honored to receive this support from Lily Endowment.”

The National FFA Organization is one of six national organizations to receive a $10 million grant from Lily Endowment, Inc. The grants are being awarded through the latest round of Lily Endowment’s initiative, called the “Character Through Youth Programs,” which helps youth-serving organizations with a nationwide reach create, test, implement, and sustain strategies that support character development in young people ages five to 18. “The organizations like National FFA have a long history of supporting young people and helping them grow into healthy, resilient adults,” said Ted Maple, Lily Endowment’s vice president for education and youth programs. “With their distinctive missions and programs, they are embarking on new creative and strategic approaches to support youth-serving organizations through the first round of the initiative.” Ambra Tennery, director of education programs in the programs and events division for the National FFA Organization, said, “We are honored to receive this support from Lily Endowment.”-NAFB

FFA receives a $10 million grant

December corn closed up 2 1/4 cents and March corn was up 2 cents. November soybeans closed down 1 1/4 cents and January soybeans were down 1 cent. December KC wheat closed up 7 1/4 cents, December Chicago wheat was up 3 1/2 cents, December Minneapolis wheat was up 2 cents.

Row-crop futures were mixed Tuesday with grains trading higher while soybean futures fell on the most recent escalation of the U.S.-China trade war as China hit U.S. subsidiaries of a South Korean shipbuilding company with sanctions. Data out from the Brazilian National Supply Company also served as a reminder to traders of record soybean supplies in Brazil and subsequently what have been record-setting exports as well that have sustained into the typical U.S. sales window due to the ongoing dispute with China. Outside markets were mixed with the U.S. dollar seemingly feeling for a momentary ceiling near 2-month highs which aided wheat markets Tuesday. Meanwhile, energy markets were lower on the China-U.S. shipping news but did manage to bounce off daily lows following a speech by Fed Chair Jerome Powell which hinted at a slowing of the 3-year effort by the Federal Reserve to reduce its asset holdings, a move which would work to effectively pressure interest rates and stimulate growth. Stock indices reversed from early losses following Powell's comments.

Although the live cattle complex started the day off weaker, the market turned its direction and traded fully higher into the closing bell as traders were pleased to see morning boxed beef prices higher again. Again today, the uptick in the futures complex has pushed most of the nearby contracts to new contract highs. Still no developments have surfaced in the fed cash cattle market, and it's likely that with feedlot managers able to push prices higher last week, they'll again try to advance the market and wait to trade any of their pens until late in the week.

Once again leading the charge, the feeder cattle complex traded fully higher into Tuesday's close, with a snappy $4.00 to $5.00 rally being the theme throughout the complex. With strong equity markets, cheap feed and incredible demand, it's been almost easy for the feeder cattle market to push the contracts higher as demand continues to be wildly strong.

The lean hog complex hasn't been as fortunate today as its contracts traded lower and are nearing support thresholds in the spot December contract. One would hope that the support plane around $82.00 would hold strong and not be broken through, but with demand being fickle in the hog sector right now, it's anyone's guess how low traders are going to send this thing. Yes, pork cutout values were up a bit this morning, but traders are going to need to see more than a midday report's worth of higher prices before they'll say that demand is truly shining through in the market.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/14143038/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 2 1/4 cents and March corn was up 2 cents. November soybeans closed down 1 1/4 cents and January soybeans were down 1 cent. December KC wheat closed up 7 1/4 cents, December Chicago wheat was up 3 1/2 cents, December Minneapolis wheat was up 2 cents.Row-crop futures were mixed Tuesday with grains trading higher while soybean futures fell on the most recent escalation of the U.S.-China trade war as China hit U.S. subsidiaries of a South Korean shipbuilding company with sanctions. Data out from the Brazilian National Supply Company also served as a reminder to traders of record soybean supplies in Brazil and subsequently what have been record-setting exports as well that have sustained into the typical U.S. sales window due to the ongoing dispute with China. Outside markets were mixed with the U.S. dollar seemingly feeling for a momentary ceiling near 2-month highs which aided wheat markets Tuesday. Meanwhile, energy markets were lower on the China-U.S. shipping news but did manage to bounce off daily lows following a speech by Fed Chair Jerome Powell which hinted at a slowing of the 3-year effort by the Federal Reserve to reduce its asset holdings, a move which would work to effectively pressure interest rates and stimulate growth. Stock indices reversed from early losses following Powell's comments.LIVESTOCK:Although the live cattle complex started the day off weaker, the market turned its direction and traded fully higher into the closing bell as traders were pleased to see morning boxed beef prices higher again. Again today, the uptick in the futures complex has pushed most of the nearby contracts to new contract highs. Still no developments have surfaced in the fed cash cattle market, and it's likely that with feedlot managers able to push prices higher last week, they'll again try to advance the market and wait to trade any of their pens until late in the week.Once again leading the charge, the feeder cattle complex traded fully higher into Tuesday's close, with a snappy $4.00 to $5.00 rally being the theme throughout the complex. With strong equity markets, cheap feed and incredible demand, it's been almost easy for the feeder cattle market to push the contracts higher as demand continues to be wildly strong.The lean hog complex hasn't been as fortunate today as its contracts traded lower and are nearing support thresholds in the spot December contract. One would hope that the support plane around $82.00 would hold strong and not be broken through, but with demand being fickle in the hog sector right now, it's anyone's guess how low traders are going to send this thing. Yes, pork cutout values were up a bit this morning, but traders are going to need to see more than a midday report's worth of higher prices before they'll say that demand is truly shining through in the market.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/14143038/web-closing-markets.mp3">Click HERE for audio</a>

The farmland market continued its year-long search for direction in the third quarter. The economists at Agricultural Economic Insights say that, depending on the survey and the time frame, farmland prices moved slightly up, down a bit, or stayed flat. This is evidence of a market that is plateauing and trying to find reasons for prices to go either up or down. The factors influencing the land market continued to be in flux, with more questions than answers at this juncture. 

Activity in the farmland market during the fourth quarter of 2025 and into 2026 will depend on buyers’ and sellers’ views of the ever-changing factors. The supply of farmland for sale and the level of demand to buy it will continue to be a big influencing factor in the land market. One of the biggest unknowns is the geopolitical factor, including tariffs, trade negotiations, and U.S. grain and livestock exports. 

The farmland market continued its year-long search for direction in the third quarter. The economists at Agricultural Economic Insights say that, depending on the survey and the time frame, farmland prices moved slightly up, down a bit, or stayed flat. This is evidence of a market that is plateauing and trying to find reasons for prices to go either up or down. The factors influencing the land market continued to be in flux, with more questions than answers at this juncture. Activity in the farmland market during the fourth quarter of 2025 and into 2026 will depend on buyers’ and sellers’ views of the ever-changing factors. The supply of farmland for sale and the level of demand to buy it will continue to be a big influencing factor in the land market. One of the biggest unknowns is the geopolitical factor, including tariffs, trade negotiations, and U.S. grain and livestock exports. -NAFB

Farmland market didn’t find direction in Q3

The Association of Equipment Manufacturers’ monthly Flash Report said the sales of all tractors during September 2025, in the U.S., were up four percent from the same month last year. In September, dealers sold a total of 17,729 tractors, which compares to 17,033 sold in September 2024. For the month, two-wheel drive smaller tractors under 40 horsepower sales were up three percent from last year, while those 40 and under 100 horsepower were up 17 percent. 

That was offset by a sharp drop in the sales of larger tractor models. Combine sales in September totaled 414, which was down 22 percent from the same time last year. For the year, tractor sales are down eight percent. One-hundred-plus-horsepower tractor sales are down 25 percent, while sales of four-wheel-drive tractors are down 39 percent. For the year, combine sales totaled 2,668 through September, which is 40 percent below the same time last year.

The Association of Equipment Manufacturers’ monthly Flash Report said the sales of all tractors during September 2025, in the U.S., were up four percent from the same month last year. In September, dealers sold a total of 17,729 tractors, which compares to 17,033 sold in September 2024. For the month, two-wheel drive smaller tractors under 40 horsepower sales were up three percent from last year, while those 40 and under 100 horsepower were up 17 percent. That was offset by a sharp drop in the sales of larger tractor models. Combine sales in September totaled 414, which was down 22 percent from the same time last year. For the year, tractor sales are down eight percent. One-hundred-plus-horsepower tractor sales are down 25 percent, while sales of four-wheel-drive tractors are down 39 percent. For the year, combine sales totaled 2,668 through September, which is 40 percent below the same time last year.-NAFB

U.S. combine sales down 40 percent

December corn closed down 2 1/4 cents and March corn was down 1 3/4 cents. November soybeans closed up 1 cents and January soybeans were up 2 cents. December KC wheat closed down 1 3/4 cents, December Chicago wheat was down 1 3/4 cents, December Minneapolis wheat was down 1/4 cents.

Corn, soy, and wheat futures trade was two-sided to start the week but managed to gain a footing after sliding back toward recent lows largely as a result of a sudden flare up in trade tensions between the U.S. and China after China announced a series of export restrictions on rare-earth minerals as well as retaliatory shipping fees against the U.S. For now, things on that front have cooled over the weekend, with President Trump calling last week's development "a bad moment" and expressing confidence in the relationship. Treasury Secretary Scott Bessent reiterated early Monday that negotiations would move forward as well, at least temporarily easing market fears as stock indices were able to recover Monday from what was their worst day since April on Friday. Energy markets also rebounded to start the week, although crude prices remain within striking distance of calendar-year lows.

The live cattle complex continued to inch higher into this new week as the market is well supported by traders and its fundamentals. Last week, the fed cash cattle market was interesting as trade not only waited to develop until Friday, but there weren't even enough cattle traded in the South to say that any sort of a market trend was established. At any moment now, USDA should release the weekly report, which breaks down how many cattle were sold last week, at what price and for what delivery option they were committed to. It will be imperative to check that report when it's available as that will likely indicate how aggressive packers will be in this week's market. But nevertheless, the futures market is pleased with the support in which it saw last week and is eager to continue to push the contracts higher again this morning. New showlists appear to be a tad lower in Nebraska/Colorado and Texas and lower in Kansas. Last week, Northern dressed cattle didn't begin trading until Friday where most of the cattle were marked at $362, which is $2.00 higher than the previous week's weighted average. Southern live cattle were marked anywhere from $230 to $234.

And just like the live cattle complex, the feeder cattle contracts were also rallying into Monday's closing bell. But the one significant difference about the two markets this morning is that the feeder cattle complex is currently seeing the biggest day-over-day gains in its deferred contracts, which are traded mostly over $2.00 higher. Again today, the uptick in the contracts' prices reaches new contract highs in most of the nearby contracts.

It's likely that the uptick in the cattle contracts along with the stabilization in the equity markets is helped the lean hog contracts find support early this week. It's also helping matters that pork cutout values were higher, which is mainly being pushed by the picnic's $5.95 gain and the rib's $4.62 jump.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/13143640/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed down 2 1/4 cents and March corn was down 1 3/4 cents. November soybeans closed up 1 cents and January soybeans were up 2 cents. December KC wheat closed down 1 3/4 cents, December Chicago wheat was down 1 3/4 cents, December Minneapolis wheat was down 1/4 cents.Corn, soy, and wheat futures trade was two-sided to start the week but managed to gain a footing after sliding back toward recent lows largely as a result of a sudden flare up in trade tensions between the U.S. and China after China announced a series of export restrictions on rare-earth minerals as well as retaliatory shipping fees against the U.S. For now, things on that front have cooled over the weekend, with President Trump calling last week's development "a bad moment" and expressing confidence in the relationship. Treasury Secretary Scott Bessent reiterated early Monday that negotiations would move forward as well, at least temporarily easing market fears as stock indices were able to recover Monday from what was their worst day since April on Friday. Energy markets also rebounded to start the week, although crude prices remain within striking distance of calendar-year lows.LIVESTOCK:The live cattle complex continued to inch higher into this new week as the market is well supported by traders and its fundamentals. Last week, the fed cash cattle market was interesting as trade not only waited to develop until Friday, but there weren't even enough cattle traded in the South to say that any sort of a market trend was established. At any moment now, USDA should release the weekly report, which breaks down how many cattle were sold last week, at what price and for what delivery option they were committed to. It will be imperative to check that report when it's available as that will likely indicate how aggressive packers will be in this week's market. But nevertheless, the futures market is pleased with the support in which it saw last week and is eager to continue to push the contracts higher again this morning. New showlists appear to be a tad lower in Nebraska/Colorado and Texas and lower in Kansas. Last week, Northern dressed cattle didn't begin trading until Friday where most of the cattle were marked at $362, which is $2.00 higher than the previous week's weighted average. Southern live cattle were marked anywhere from $230 to $234.And just like the live cattle complex, the feeder cattle contracts were also rallying into Monday's closing bell. But the one significant difference about the two markets this morning is that the feeder cattle complex is currently seeing the biggest day-over-day gains in its deferred contracts, which are traded mostly over $2.00 higher. Again today, the uptick in the contracts' prices reaches new contract highs in most of the nearby contracts. It's likely that the uptick in the cattle contracts along with the stabilization in the equity markets is helped the lean hog contracts find support early this week. It's also helping matters that pork cutout values were higher, which is mainly being pushed by the picnic's $5.95 gain and the rib's $4.62 jump.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/13143640/web-closing-markets.mp3">Click HERE for audio</a>

According to Research Intelo, the global agricultural drones market size reached $4.7 billion in 2024. That demonstrated robust momentum, which is expected to continue. The market is projected to reach a value of $29.1 billion by 2033, driven by the escalating adoption of precision farming and the growing demand for advanced agricultural solutions. This growth trajectory is driven by the increasing integration of cutting-edge drone technologies intended for crop monitoring, field mapping, and yield optimization across diverse geographies. 

The global agricultural drones market is witnessing exponential growth as farmers increasingly adopt advanced technologies to enhance crop productivity and reduce operational costs. Manufacturers are also developing hybrid drones that combine the endurance of fixed-wing models with the agility of multi-rotor drones, making them ideal for large-scale agricultural operations. Unprecedented innovations in battery life and payload capacity have extended drone flight times, allowing them to cover much larger areas of land. 

According to Research Intelo, the global agricultural drones market size reached $4.7 billion in 2024. That demonstrated robust momentum, which is expected to continue. The market is projected to reach a value of $29.1 billion by 2033, driven by the escalating adoption of precision farming and the growing demand for advanced agricultural solutions. This growth trajectory is driven by the increasing integration of cutting-edge drone technologies intended for crop monitoring, field mapping, and yield optimization across diverse geographies. The global agricultural drones market is witnessing exponential growth as farmers increasingly adopt advanced technologies to enhance crop productivity and reduce operational costs. Manufacturers are also developing hybrid drones that combine the endurance of fixed-wing models with the agility of multi-rotor drones, making them ideal for large-scale agricultural operations. Unprecedented innovations in battery life and payload capacity have extended drone flight times, allowing them to cover much larger areas of land. -NAFB

Agricultural drone market to surpass $29 billion

The American Farm Bureau Federation sent letters to President Donald Trump and Congressional leaders to emphasize the severe economic pressures facing America’s farmers and ranchers. Falling crop prices, skyrocketing expenses, and trade disputes are creating conditions that are too much for farm families to bear. “Across the country, farms are disappearing as families close the gates on the farms tended by their parents, grandparents, and generations before them,” wrote Farm Bureau President Zippy Duvall. “In the short term, we urge leaders to authorize bridge payments for farmers before the end of 2025.” 

While emergency aid will help, Farm Bureau asks for long-term solutions to help improve economic conditions in rural America, including fair and enforceable trade agreements. The organization also wants year-round sales of E15, restoration of whole milk in schools, and protection of interstate commerce. “Federal leadership can now prevent a deepening crisis in the agricultural economy,” Duvall added.

The American Farm Bureau Federation sent letters to President Donald Trump and Congressional leaders to emphasize the severe economic pressures facing America’s farmers and ranchers. Falling crop prices, skyrocketing expenses, and trade disputes are creating conditions that are too much for farm families to bear. “Across the country, farms are disappearing as families close the gates on the farms tended by their parents, grandparents, and generations before them,” wrote Farm Bureau President Zippy Duvall. “In the short term, we urge leaders to authorize bridge payments for farmers before the end of 2025.” While emergency aid will help, Farm Bureau asks for long-term solutions to help improve economic conditions in rural America, including fair and enforceable trade agreements. The organization also wants year-round sales of E15, restoration of whole milk in schools, and protection of interstate commerce. “Federal leadership can now prevent a deepening crisis in the agricultural economy,” Duvall added.-NAFB

AFBF: Farmers are at a breaking point

December corn closed down 5 1/4 cents and March corn was down 5 cents. November soybeans closed down 15 1/2 cents and January soybeans were down 15 1/4 cents. December KC wheat closed down 6 3/4 cents, December Chicago wheat was down 8 cents, December Minneapolis wheat was down 5 1/4 cents.

December corn closed down 6 cents and March corn was down 6 3/4 cents. November soybeans closed down 11 1/4 cents and January soybeans were down 13 3/4 cents. December KC wheat closed down 14 cents, December Chicago wheat was down 16 3/4 cents and December Minneapolis wheat was down 8 cents.

Row-crop markets fell sharply Friday, led by accelerated selling in the soybean complex after a series of escalations regarding trade between the U.S. and China. It began on Thursday with reports that China was planning further export restrictions on rare-earth minerals which have been a primary point of contention between the two nations through negotiations this year. It was then reported early Friday that China would respond to planned U.S. port fees with fees of their own on U.S. ships beginning Oct. 14. The final straw that broke the proverbial camel's back on Friday was a social media post from President Trump expressing frustration with China, but perhaps most concerning to the market was the comment that the highly anticipated summit between he and President Xi of China may no longer take place. The development was a bearish aspect across almost all markets for Friday, with energy and equity markets falling drastically as well as commodities.

The live cattle complex traded slightly lower as traders took note of the equity market's decline amid ongoing turmoil with China. But even so, the market was able to maintain a relatively low decline, and fundamental support was fruitful today as some early sales in the cash cattle market were marked higher and as boxed beef prices were higher again today too. The complex managed to get enough support to finish fully higher by the closing bell. The cash cattle market has still been mostly quiet, but some light trade has recently been reported in Nebraska at $362, which is $2.00 higher than last week's weighted average. I anticipate that the Southern plains will be able to trade cattle higher, too, as their showlists are slimmer than those in the North.

The feeder cattle complex is also trading lower as traders are skeptical of pushing the feeder cattle contracts any higher, given the fact that they're already trading at record high prices and that outside pressure has grown more troublesome. The market did not keep this lower tone through the day's close, fundamentally, there was more than enough support in the marketplace to finish higher across the board.

The lean hog complex is continuing to scale lower as there's not enough fundamental support in the market to comfort traders, and as the external pressures of the equity markets are affecting the hog complex too. Yes, pork cutout values were a tick higher this morning, but the market's support is a little too late to give much stability to traders.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/10142031/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed down 5 1/4 cents and March corn was down 5 cents. November soybeans closed down 15 1/2 cents and January soybeans were down 15 1/4 cents. December KC wheat closed down 6 3/4 cents, December Chicago wheat was down 8 cents, December Minneapolis wheat was down 5 1/4 cents.For the Week:December corn closed down 6 cents and March corn was down 6 3/4 cents. November soybeans closed down 11 1/4 cents and January soybeans were down 13 3/4 cents. December KC wheat closed down 14 cents, December Chicago wheat was down 16 3/4 cents and December Minneapolis wheat was down 8 cents.Row-crop markets fell sharply Friday, led by accelerated selling in the soybean complex after a series of escalations regarding trade between the U.S. and China. It began on Thursday with reports that China was planning further export restrictions on rare-earth minerals which have been a primary point of contention between the two nations through negotiations this year. It was then reported early Friday that China would respond to planned U.S. port fees with fees of their own on U.S. ships beginning Oct. 14. The final straw that broke the proverbial camel's back on Friday was a social media post from President Trump expressing frustration with China, but perhaps most concerning to the market was the comment that the highly anticipated summit between he and President Xi of China may no longer take place. The development was a bearish aspect across almost all markets for Friday, with energy and equity markets falling drastically as well as commodities.LIVESTOCK:The live cattle complex traded slightly lower as traders took note of the equity market's decline amid ongoing turmoil with China. But even so, the market was able to maintain a relatively low decline, and fundamental support was fruitful today as some early sales in the cash cattle market were marked higher and as boxed beef prices were higher again today too. The complex managed to get enough support to finish fully higher by the closing bell. The cash cattle market has still been mostly quiet, but some light trade has recently been reported in Nebraska at $362, which is $2.00 higher than last week's weighted average. I anticipate that the Southern plains will be able to trade cattle higher, too, as their showlists are slimmer than those in the North. The feeder cattle complex is also trading lower as traders are skeptical of pushing the feeder cattle contracts any higher, given the fact that they're already trading at record high prices and that outside pressure has grown more troublesome. The market did not keep this lower tone through the day's close, fundamentally, there was more than enough support in the marketplace to finish higher across the board.The lean hog complex is continuing to scale lower as there's not enough fundamental support in the market to comfort traders, and as the external pressures of the equity markets are affecting the hog complex too. Yes, pork cutout values were a tick higher this morning, but the market's support is a little too late to give much stability to traders.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/10142031/web-closing-markets.mp3">Click HERE for audio</a>

Weekly pork slaughter was estimated to be higher than 2.6 million head, although we won’t know the actual figures as the USDA has furloughed many of its staff due to a funding lapse. Seasonally, pork supply trends higher in the fall, and this year is no different. Slaughter is up 11 percent compared to where it was in mid-August, while weights are up three percent. With nearly 15 percent more pork coming to market, prices have started to trend lower and could see more downside this quarter. 

Pork trim prices were counter-seasonally higher in the previous three weeks, but the increase in supply has finally started to catch up with this market. Strong demand should keep prices above year-ago levels, but prices in November and December are expected to be lower than the current trends. Ham prices are expected to trade sideways, while belly prices could see more downside. 

Weekly pork slaughter was estimated to be higher than 2.6 million head, although we won’t know the actual figures as the USDA has furloughed many of its staff due to a funding lapse. Seasonally, pork supply trends higher in the fall, and this year is no different. Slaughter is up 11 percent compared to where it was in mid-August, while weights are up three percent. With nearly 15 percent more pork coming to market, prices have started to trend lower and could see more downside this quarter. Pork trim prices were counter-seasonally higher in the previous three weeks, but the increase in supply has finally started to catch up with this market. Strong demand should keep prices above year-ago levels, but prices in November and December are expected to be lower than the current trends. Ham prices are expected to trade sideways, while belly prices could see more downside. -NAFB

Pork prices trend lower

A bipartisan group of 47 legislators from both Chambers of Congress petitioned the EPA to finalize its proposal for the Renewable Fuel Standard Program, which includes measures to discourage the use of imports into the U.S. biofuels market. The group sent a letter to Lee Zeldin, the Environmental Protection Agency Administrator, asking him to advocate for the proposal. The legislators say it represents a common-sense approach that puts America’s farmers first in line, strengthens U.S. domestic biofuel markets, and delivers tangible economic benefits to rural communities.

 An EPA proposal in June would change the RFS program to increase the Renewable Volume Obligation, or RVO, reduce the value of the Renewable Identification Numbers (RINs) for foreign-produced fuels and biofuel components, and reallocate unmet regulatory costs from exempted small refineries to larger ones. The group argued that the RIN reduction measure would provide essential support for the farm economy.

A bipartisan group of 47 legislators from both Chambers of Congress petitioned the EPA to finalize its proposal for the Renewable Fuel Standard Program, which includes measures to discourage the use of imports into the U.S. biofuels market. The group sent a letter to Lee Zeldin, the Environmental Protection Agency Administrator, asking him to advocate for the proposal. The legislators say it represents a common-sense approach that puts America’s farmers first in line, strengthens U.S. domestic biofuel markets, and delivers tangible economic benefits to rural communities. An EPA proposal in June would change the RFS program to increase the Renewable Volume Obligation, or RVO, reduce the value of the Renewable Identification Numbers (RINs) for foreign-produced fuels and biofuel components, and reallocate unmet regulatory costs from exempted small refineries to larger ones. The group argued that the RIN reduction measure would provide essential support for the farm economy.-NAFB

Congressional coalition supports EPA biofuels plan

December corn closed down 3 3/4 cents and March corn was down 3 3/4 cents. November soybeans closed down 7 1/4 cents and January soybeans were down 5 3/4 cents. December KC wheat closed down 3 1/2 cents, December Chicago wheat was down 3/4 cents, December Minneapolis wheat was up 1 1/2 cents.

Corn, soy, and wheat prices fell Thursday, erasing gains made through a generally bullish midweek session Wednesday. Corn and soybean futures hit technical resistance Thursday, which bullish traders lack the reassurance to trade through currently with no USDA report this month to back up thoughts (supported by firmer spreads and basis levels) that the supply and demand relationship for corn and soybeans is tighter than previously reports have estimated. Outside markets on Thursday leaned negative, with a firmer U.S. dollar and lower energy markets weighing on agricultural prices.

The live cattle complex again followed in the feeder cattle market's wake, trading higher, with once again the market's deferred contracts seeing the biggest gains. With the spot December contract nearing the market's resistance at $241, it will be interesting to see how traders handle that threshold, as not only is it a resistance plane, but depending on how far traders would potentially take the contracts, it could mean new record high prices for the contracts as well. A single bid of $230 is currently on the table in Nebraska, but still no cash cattle trade has developed as feedlot managers are hoping to hold prices at least steady, and packers are obviously hoping to again work the market lower. Asking prices are noted at $235 to $237 in the South but are still not established in the North.

Rallying like it didn't have a care or a concern in the world, the feeder cattle contracts were pressing onward, pushing an aggressive $3.00 rally into midday Thursday. On Wednesday afternoon, the market was pleased to successfully reach new contract highs, which has seemed to fuel the market's ambition as traders have restlessly continued to push it higher and higher. Yes, seeing stronger boxed beef prices is helping, and if the fed cash cattle market were to trade steady to somewhat higher, that would be positive as well, but time will tell if that support develops or not.

It was another painstaking morning and session overall for the lean hog complex as support did not come to fruition, and the contracts were struggling because of that. Both cash prices and pork cutout values were weaker in the midday reports, and it's likely that remains the theme through the balance of the week.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/09143635/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed down 3 3/4 cents and March corn was down 3 3/4 cents. November soybeans closed down 7 1/4 cents and January soybeans were down 5 3/4 cents. December KC wheat closed down 3 1/2 cents, December Chicago wheat was down 3/4 cents, December Minneapolis wheat was up 1 1/2 cents.Corn, soy, and wheat prices fell Thursday, erasing gains made through a generally bullish midweek session Wednesday. Corn and soybean futures hit technical resistance Thursday, which bullish traders lack the reassurance to trade through currently with no USDA report this month to back up thoughts (supported by firmer spreads and basis levels) that the supply and demand relationship for corn and soybeans is tighter than previously reports have estimated. Outside markets on Thursday leaned negative, with a firmer U.S. dollar and lower energy markets weighing on agricultural prices.LIVESTOCK:The live cattle complex again followed in the feeder cattle market's wake, trading higher, with once again the market's deferred contracts seeing the biggest gains. With the spot December contract nearing the market's resistance at $241, it will be interesting to see how traders handle that threshold, as not only is it a resistance plane, but depending on how far traders would potentially take the contracts, it could mean new record high prices for the contracts as well. A single bid of $230 is currently on the table in Nebraska, but still no cash cattle trade has developed as feedlot managers are hoping to hold prices at least steady, and packers are obviously hoping to again work the market lower. Asking prices are noted at $235 to $237 in the South but are still not established in the North.Rallying like it didn't have a care or a concern in the world, the feeder cattle contracts were pressing onward, pushing an aggressive $3.00 rally into midday Thursday. On Wednesday afternoon, the market was pleased to successfully reach new contract highs, which has seemed to fuel the market's ambition as traders have restlessly continued to push it higher and higher. Yes, seeing stronger boxed beef prices is helping, and if the fed cash cattle market were to trade steady to somewhat higher, that would be positive as well, but time will tell if that support develops or not.It was another painstaking morning and session overall for the lean hog complex as support did not come to fruition, and the contracts were struggling because of that. Both cash prices and pork cutout values were weaker in the midday reports, and it's likely that remains the theme through the balance of the week.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/09143635/web-closing-markets.mp3">Click HERE for audio</a>

The Iowa Department of Agriculture and Land Stewardship and the USDA’s Animal and Plant Health Inspection Service detected a case of Highly Pathogenic Avian Influenza in a commercial turkey flock in Calhoun County, Iowa. This is Iowa’s eighth detection of HPAI within domestic birds in 2025. As the fall wild bird migration continues, that’s typically when infections in domestic flocks pick up. Clinical signs of infection include a sudden increase in bird deaths without any clinical signs, lethargy, and a lack of appetite. 

It can also include a decrease in egg production, or soft, thin-shelled, or misshapen eggs, and a swelling of the head, eyelids, comb, wattles, and hocks. Remember, it remains safe to enjoy eggs and poultry products. Consumers are reminded to properly handle and cook eggs and poultry products, including cooking to an internal temperature of 165 degrees Fahrenheit. The CDC said the threat to the public remains low.

The Iowa Department of Agriculture and Land Stewardship and the USDA’s Animal and Plant Health Inspection Service detected a case of Highly Pathogenic Avian Influenza in a commercial turkey flock in Calhoun County, Iowa. This is Iowa’s eighth detection of HPAI within domestic birds in 2025. As the fall wild bird migration continues, that’s typically when infections in domestic flocks pick up. Clinical signs of infection include a sudden increase in bird deaths without any clinical signs, lethargy, and a lack of appetite. It can also include a decrease in egg production, or soft, thin-shelled, or misshapen eggs, and a swelling of the head, eyelids, comb, wattles, and hocks. Remember, it remains safe to enjoy eggs and poultry products. Consumers are reminded to properly handle and cook eggs and poultry products, including cooking to an internal temperature of 165 degrees Fahrenheit. The CDC said the threat to the public remains low.-NAFB

HPAI detected in Iowa commercial flock

Four people familiar with the talks say that the White House is delaying its plans to issue economic aid to farmers this week due to the government shutdown. The White House Office of Management and Budget prepared between $12 and $13 billion to be allocated from an internal USDA account. The sources said no final decision has been made yet on the total amount of money that will go for farm aid, and the package likely won’t be coming out soon. 

It’s possible the timeline was further delayed because some of the USDA’s political appointees have been placed on furlough during the shutdown. Politico also said officials are weighing the possibility of using tariff revenue, the USDA’s Commodity Credit Corporation fund, and other alternative methods to alleviate farmers’ financial stress. President Trump tapped the USDA fund to dole out $28 billion in assistance during the first trade war with China. 

Four people familiar with the talks say that the White House is delaying its plans to issue economic aid to farmers this week due to the government shutdown. The White House Office of Management and Budget prepared between $12 and $13 billion to be allocated from an internal USDA account. The sources said no final decision has been made yet on the total amount of money that will go for farm aid, and the package likely won’t be coming out soon. It’s possible the timeline was further delayed because some of the USDA’s political appointees have been placed on furlough during the shutdown. Politico also said officials are weighing the possibility of using tariff revenue, the USDA’s Commodity Credit Corporation fund, and other alternative methods to alleviate farmers’ financial stress. President Trump tapped the USDA fund to dole out $28 billion in assistance during the first trade war with China. -NAFB