March corn closed up 5 1/2 cents per bushel at $4.47 and May closed up 7 cents per bushel at $4.60 1/2 and March soybeans closed up 21 1/4 cents at $11.85 and May soybeans were up 21 1/2 cents at $12.00 3/4. May KC wheat closed up 31 cents at $6.23 1/2, May Chicago wheat was up 33 cents at $6.16 3/4 and May Minneapolis wheat was up 23 1/2 cents at $6.43

Grain and soy markets added more war premium Friday as the bombing of Iran military sites continue; but Iran still has not backed down. Crude oil soared again as the Strait of Hormuz transit of energy and fertilizer supplies continues to be restricted. Wheat led the markets higher on Friday despite still overall bearish fundamentals as funds continued to buy.

The live cattle complex started the day off trading lower, and upon seeing some fed cash cattle trade develop at lower prices, the market extended with that trend through the day's close. Today's weakness seems to be stemming from a number of different areas. Technically speaking, the market's 40-day moving average seems to pose as too much of a technical barrier for traders to challenge at this point. From a fundamental sense, seeing prices trade $3 lower in the North doesn't send the market warm and fuzzy feelings either. Bids are currently on the table in the South, but no Southern trade has been noted yet.

The feeder cattle complex also traded lower as the market witnessed&nbsp; its contracts fall anywhere from $6 to $7 lower by the closing bell. More than anything, the weakness seen in the live cattle complex amid a lower trade in the fed cash cattle market doesn't give the feeder cattle complex much support to rally around.

The cattle contracts may have traded much lower, but the lean hog complex kept with a slightly higher trend as traders remain committed to keeping a sideways/somewhat higher trend in the hog sector. Today's support largely gets attributed to trades as the market's fundamentals aren't helping drive the ship higher.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/03/06140252/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed up 5 1/2 cents per bushel at $4.47 and May closed up 7 cents per bushel at $4.60 1/2 and March soybeans closed up 21 1/4 cents at $11.85 and May soybeans were up 21 1/2 cents at $12.00 3/4. May KC wheat closed up 31 cents at $6.23 1/2, May Chicago wheat was up 33 cents at $6.16 3/4 and May Minneapolis wheat was up 23 1/2 cents at $6.43Grain and soy markets added more war premium Friday as the bombing of Iran military sites continue; but Iran still has not backed down. Crude oil soared again as the Strait of Hormuz transit of energy and fertilizer supplies continues to be restricted. Wheat led the markets higher on Friday despite still overall bearish fundamentals as funds continued to buy.LIVESTOCK:The live cattle complex started the day off trading lower, and upon seeing some fed cash cattle trade develop at lower prices, the market extended with that trend through the day's close. Today's weakness seems to be stemming from a number of different areas. Technically speaking, the market's 40-day moving average seems to pose as too much of a technical barrier for traders to challenge at this point. From a fundamental sense, seeing prices trade $3 lower in the North doesn't send the market warm and fuzzy feelings either. Bids are currently on the table in the South, but no Southern trade has been noted yet. The feeder cattle complex also traded lower as the market witnessed&nbsp; its contracts fall anywhere from $6 to $7 lower by the closing bell. More than anything, the weakness seen in the live cattle complex amid a lower trade in the fed cash cattle market doesn't give the feeder cattle complex much support to rally around. The cattle contracts may have traded much lower, but the lean hog complex kept with a slightly higher trend as traders remain committed to keeping a sideways/somewhat higher trend in the hog sector. Today's support largely gets attributed to trades as the market's fundamentals aren't helping drive the ship higher.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/03/06140252/web-closing-markets.mp3">Click HERE for audio</a>

Commodity markets daily recap

For many years, the Iowa Corn Growers Association has been raising concerns about the pressure and crushing prices put on farmers by the fertilizer industry. Fertilizer prices continue to rise while commodity prices go in the other direction. ICGA said an investigation by the Department of Justice would be a step in the right direction, as more probing needs to be done. The Association thanked the Iowa Congressional delegation for hearing corn farmers' concerns’ by bringing forward the Fertilizer Research Act in the Senate and House to review the competition and transparency within the fertilizer industry. 

Additionally, ICGA and the Texas Corn Producers Association sent a letter to Attorney General Pam Bondi in early February requesting a status update on the report related to fertilizer pricing and industry consolidation. Reports this week show that the DOJ has begun an official investigation into the U.S. fertilizer industry to explore whether several of the country’s largest fertilizer producers conspired to raise prices on American farmers.

For many years, the Iowa Corn Growers Association has been raising concerns about the pressure and crushing prices put on farmers by the fertilizer industry. Fertilizer prices continue to rise while commodity prices go in the other direction. ICGA said an investigation by the Department of Justice would be a step in the right direction, as more probing needs to be done. The Association thanked the Iowa Congressional delegation for hearing corn farmers' concerns’ by bringing forward the Fertilizer Research Act in the Senate and House to review the competition and transparency within the fertilizer industry. Additionally, ICGA and the Texas Corn Producers Association sent a letter to Attorney General Pam Bondi in early February requesting a status update on the report related to fertilizer pricing and industry consolidation. Reports this week show that the DOJ has begun an official investigation into the U.S. fertilizer industry to explore whether several of the country’s largest fertilizer producers conspired to raise prices on American farmers.-NAFB

Iowa Corn Growers encourage investigation into fertilizer

The House Agriculture Committee advanced a Republican-led farm bill 34-17 in a vote early on Thursday. While the markup was slowed by partisan fighting about the package, the legislation was approved with the backing of seven Democrats. Reports said that the bill is basically the same as legislation that House Ag Committee Chair Glen Thompson advanced out of the committee two years ago. House Ag Ranking Member Angie Craig said that despite “bipartisan improvements” during the amendment process, the package remains a disappointing farm bill that doesn’t meet the moment. 

“The bill includes sweeping updates to agriculture and nutrition policies that haven’t been formally reauthorized since the last farm bill passed in 2018." Representative Eric Sorenson of Illinois attempted to amend the bill to include language enabling the year-round sale of E15, but the amendment did not pass. The bill still includes language that would eliminate California’s Proposition 12.

The House Agriculture Committee advanced a Republican-led farm bill 34-17 in a vote early on Thursday. While the markup was slowed by partisan fighting about the package, the legislation was approved with the backing of seven Democrats. Reports said that the bill is basically the same as legislation that House Ag Committee Chair Glen Thompson advanced out of the committee two years ago. House Ag Ranking Member Angie Craig said that despite “bipartisan improvements” during the amendment process, the package remains a disappointing farm bill that doesn’t meet the moment. “The bill includes sweeping updates to agriculture and nutrition policies that haven’t been formally reauthorized since the last farm bill passed in 2018." Representative Eric Sorenson of Illinois attempted to amend the bill to include language enabling the year-round sale of E15, but the amendment did not pass. The bill still includes language that would eliminate California’s Proposition 12.-NAFB

House Ag Committee advances farm bill

May corn closed up 9 3/4 cents and July corn was up 9 1/4 cents. May soybeans closed up 9 3/4 cents and July soybeans were up 9 1/2 cents. May KC wheat closed up 20 cents, May Chicago wheat was up 15 1/2 cents, May Minneapolis wheat was up 10 1/4 cents.

For Thursday, traders saw the need for added risk premium in commodity markets, with wheat futures leading the way with another double-digit spike back toward calendar year highs. That positively influenced corn futures as well in tandem with another very strong round of export data released by USDA on Thursday morning. Soybeans were higher and back toward early week highs for the rally, with soybean oil providing bullish influence given the firm energy sector. Meanwhile, in other outside markets, the Dow Jones Industrial Average crashed again following a brief midweek reprieve from selling. Inflation and high interest rates fears (as a result of high energy costs) are driving investor sentiment, with the U.S. Dollar pressing higher and back towards 2026 highs as well.

The live cattle complex traded mildly higher following Wednesday's sizeable surge. Traders are cautiously advancing the spot April contract above its 40-day moving average, but it's not come without some worry as traders question whether or not they're overdoing the upward trend right now. If we had seen some stronger trade in the fed cash cattle market, then there likely wouldn't be any worry amongst traders; but we've yet to see any cash trade develop. There's a single bid currently on the table at $375 in Nebraska, but otherwise the market is sitting idle as feedlot managers wait for packers to offer up stronger bids. Asking prices are noted at $244 in the South but are still not established in the North.

The live cattle complex is pushing its spot April contract above the 40-day moving average, but the feeder cattle complex isn't seeing the same level of support as traders aren't comfortable pushing above their 40-day moving average at this time. The feeder cattle contracts continued to hedge on the side of safety and continue to trade steady to slightly lower.

Following Wednesday's sharp rally, the lean hog complex was mixed heading into Thursday's close as traders no longer want to push the contracts up to the market's resistance. It is helpful to see pork cutout values mildly higher as traders need to see continued fundamental support.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/03/05135830/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:May corn closed up 9 3/4 cents and July corn was up 9 1/4 cents. May soybeans closed up 9 3/4 cents and July soybeans were up 9 1/2 cents. May KC wheat closed up 20 cents, May Chicago wheat was up 15 1/2 cents, May Minneapolis wheat was up 10 1/4 cents.For Thursday, traders saw the need for added risk premium in commodity markets, with wheat futures leading the way with another double-digit spike back toward calendar year highs. That positively influenced corn futures as well in tandem with another very strong round of export data released by USDA on Thursday morning. Soybeans were higher and back toward early week highs for the rally, with soybean oil providing bullish influence given the firm energy sector. Meanwhile, in other outside markets, the Dow Jones Industrial Average crashed again following a brief midweek reprieve from selling. Inflation and high interest rates fears (as a result of high energy costs) are driving investor sentiment, with the U.S. Dollar pressing higher and back towards 2026 highs as well.LIVESTOCK:The live cattle complex traded mildly higher following Wednesday's sizeable surge. Traders are cautiously advancing the spot April contract above its 40-day moving average, but it's not come without some worry as traders question whether or not they're overdoing the upward trend right now. If we had seen some stronger trade in the fed cash cattle market, then there likely wouldn't be any worry amongst traders; but we've yet to see any cash trade develop. There's a single bid currently on the table at $375 in Nebraska, but otherwise the market is sitting idle as feedlot managers wait for packers to offer up stronger bids. Asking prices are noted at $244 in the South but are still not established in the North.The live cattle complex is pushing its spot April contract above the 40-day moving average, but the feeder cattle complex isn't seeing the same level of support as traders aren't comfortable pushing above their 40-day moving average at this time. The feeder cattle contracts continued to hedge on the side of safety and continue to trade steady to slightly lower.Following Wednesday's sharp rally, the lean hog complex was mixed heading into Thursday's close as traders no longer want to push the contracts up to the market's resistance. It is helpful to see pork cutout values mildly higher as traders need to see continued fundamental support.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/03/05135830/web-closing-markets.mp3">Click HERE for audio</a>

The dairy checkoff has unveiled “Dairy Does More,” a national marketing platform to help grow demand by reshaping how consumers think about dairy foods. 

Developed by Dairy Management Inc., the initiative brings to life the “Undeniably Dairy” brand in a contemporary way and reflects a long-term strategy to strengthen dairy’s role in modern lifestyles. DMI said the idea is about unlocking new growth by helping consumers see dairy products of all kinds in a whole new light. “Consumers often put food into boxes,” said Aris Georgiadis, senior vice president of marketing communications. “Milk is for kids, yogurt is for breakfast, and cheese is for dinner, but it’s our job to break those patterns.” 

Dairy Does More launched March 2 and will be supported by three 30-second digital video spots, social media activations, and in-market programs. State and regional checkoff teams will have opportunities to leverage campaign elements in their social and marketplace programs.

The dairy checkoff has unveiled “Dairy Does More,” a national marketing platform to help grow demand by reshaping how consumers think about dairy foods. Developed by Dairy Management Inc., the initiative brings to life the “Undeniably Dairy” brand in a contemporary way and reflects a long-term strategy to strengthen dairy’s role in modern lifestyles. DMI said the idea is about unlocking new growth by helping consumers see dairy products of all kinds in a whole new light. “Consumers often put food into boxes,” said Aris Georgiadis, senior vice president of marketing communications. “Milk is for kids, yogurt is for breakfast, and cheese is for dinner, but it’s our job to break those patterns.” Dairy Does More launched March 2 and will be supported by three 30-second digital video spots, social media activations, and in-market programs. State and regional checkoff teams will have opportunities to leverage campaign elements in their social and marketplace programs.- NAFB

Dairy Checkoff Launches “Dairy Does More”

The tech industry’s relentless push for data centers in rural areas is colliding head-on with farmers, who see the projects as a threat to their way of life. 

Politico said the issue is drawing vocal criticism from conservative candidates for political office and fueling unrest in Republican primaries. Data center supporters are looking at vast parts of the nation’s farmland as excellent sites for the sprawling server-packed facilities they need to support the White House goal of making the U.S. the dominant force in developing artificial intelligence. “Farmers and some of the Republicans vying to represent them say that supporting these projects sends the wrong message when deep-red rural America is being hurt by the president’s tariff agenda and the high cost of living,” Politico reported. 

Data centers target rural areas because, like farms, they require a lot of land and access to substantial water and electricity supplies.

The tech industry’s relentless push for data centers in rural areas is colliding head-on with farmers, who see the projects as a threat to their way of life. Politico said the issue is drawing vocal criticism from conservative candidates for political office and fueling unrest in Republican primaries. Data center supporters are looking at vast parts of the nation’s farmland as excellent sites for the sprawling server-packed facilities they need to support the White House goal of making the U.S. the dominant force in developing artificial intelligence. “Farmers and some of the Republicans vying to represent them say that supporting these projects sends the wrong message when deep-red rural America is being hurt by the president’s tariff agenda and the high cost of living,” Politico reported. Data centers target rural areas because, like farms, they require a lot of land and access to substantial water and electricity supplies.- NAFB

Farmers Increasingly Rejecting Data Center Bids for Land

The now closed Strait of Hormuz moves about 20 million barrels of crude oil and petroleum products daily, totaling about 20 percent of global demand. DTN reports that fertilizer exports also move through the Strait, including about a quarter of the globally traded nitrogen market.

 Politico said the White House will offer naval escorts and political risk insurance for oil and gas tankers traveling through the Strait of Hormuz in a bid to slow down a surge in energy prices after Iran warned it will attack ships at a choke point in the Strait. “The announcement brought some immediate relief to the overheated crude oil market,” Politico reported. 

In a Truth Social post, President Trump said he’s ordered the U.S. Development Finance Corporation to provide risk insurance and guarantees for the financial security of all maritime trade, especially energy. “If necessary, the U.S. Navy will begin escorting tankers through the Strait of Hormuz,” Trump added.

The now closed Strait of Hormuz moves about 20 million barrels of crude oil and petroleum products daily, totaling about 20 percent of global demand. DTN reports that fertilizer exports also move through the Strait, including about a quarter of the globally traded nitrogen market. Politico said the White House will offer naval escorts and political risk insurance for oil and gas tankers traveling through the Strait of Hormuz in a bid to slow down a surge in energy prices after Iran warned it will attack ships at a choke point in the Strait. “The announcement brought some immediate relief to the overheated crude oil market,” Politico reported. In a Truth Social post, President Trump said he’s ordered the U.S. Development Finance Corporation to provide risk insurance and guarantees for the financial security of all maritime trade, especially energy. “If necessary, the U.S. Navy will begin escorting tankers through the Strait of Hormuz,” Trump added.- NAFB

Fertilizer Prices Significantly Higher After Attack on Iran

May corn closed down 2 3/4 cents and July corn was down 2 cents. May soybeans closed down 1 cent and July soybeans were down 1/4 cent. May KC wheat closed down 5 3/4 cents, May Chicago wheat was down 5 3/4 cents, May Minneapolis wheat was down 4 cents.

Row-crop futures fell marginally Wednesday, retreating from chart resistance after hitting fresh highs for their recent moves early this week, with little fundamental news to influence price direction. Outside markets have settled to some degree after a volatile start to the week amid the onset of war in the Middle East and corresponding disruptions to world energy trade. Crude oil futures, of course, remain elevated but have stalled on attempted moves above $75 per barrel on NYMEX futures. The U.S. Dollar Index also moved lower for the first time this week, still among the highest level of 2026 but a touch below the mid-January high after Tuesday's reversal. Equity markets have recovered well from early Tuesday lows as investors recover from the initial market shock through the weekend and turn to monitoring the ongoing situation in the Middle East.

The live cattle complex was charging full steam ahead into Wednesday's closing bell as the market is currently trading $3.00 to $4.00 higher into the afternoon. Pinpointing what's driving the rally in the cattle sector is somewhat challenging, but more than anything it seems as though traders have reignited their bullish sentiment toward the market and are now giving the complex more technical support. There's a single bid currently on the table in Nebraska at $375, but otherwise no cattle have traded yet in the cash market. Boxed beef prices are higher: choice up $0.78 ($388.83) and select up $1.79 ($380.37) with a movement of 52 loads (40.57 loads of choice, 4.68 loads of select, 2.56 loads of trim and 4.11 loads of ground beef).

Upon seeing the live cattle complex rally aggressively, the feeder cattle contracts jumped into action as well as most of the contracts were sizeable $6.00 to $7.00 increases. The 40-day moving average seems to be giving the complex a little bit of resistance, but if the live cattle complex continues to trade higher traders may elect to conquer it later in the week.

With a slight uptick in pork demand, the lean hog contracts were also rallying into Wednesday's close. So far this week the market has chopped mostly sideways as traders haven't wanted to push the contracts any higher without increased fundamental support. But the slight uptick in pork demand has traders willing to advance the contracts at this point in time.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/03/04135038/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:May corn closed down 2 3/4 cents and July corn was down 2 cents. May soybeans closed down 1 cent and July soybeans were down 1/4 cent. May KC wheat closed down 5 3/4 cents, May Chicago wheat was down 5 3/4 cents, May Minneapolis wheat was down 4 cents.Row-crop futures fell marginally Wednesday, retreating from chart resistance after hitting fresh highs for their recent moves early this week, with little fundamental news to influence price direction. Outside markets have settled to some degree after a volatile start to the week amid the onset of war in the Middle East and corresponding disruptions to world energy trade. Crude oil futures, of course, remain elevated but have stalled on attempted moves above $75 per barrel on NYMEX futures. The U.S. Dollar Index also moved lower for the first time this week, still among the highest level of 2026 but a touch below the mid-January high after Tuesday's reversal. Equity markets have recovered well from early Tuesday lows as investors recover from the initial market shock through the weekend and turn to monitoring the ongoing situation in the Middle East.LIVESTOCK:The live cattle complex was charging full steam ahead into Wednesday's closing bell as the market is currently trading $3.00 to $4.00 higher into the afternoon. Pinpointing what's driving the rally in the cattle sector is somewhat challenging, but more than anything it seems as though traders have reignited their bullish sentiment toward the market and are now giving the complex more technical support. There's a single bid currently on the table in Nebraska at $375, but otherwise no cattle have traded yet in the cash market. Boxed beef prices are higher: choice up $0.78 ($388.83) and select up $1.79 ($380.37) with a movement of 52 loads (40.57 loads of choice, 4.68 loads of select, 2.56 loads of trim and 4.11 loads of ground beef).Upon seeing the live cattle complex rally aggressively, the feeder cattle contracts jumped into action as well as most of the contracts were sizeable $6.00 to $7.00 increases. The 40-day moving average seems to be giving the complex a little bit of resistance, but if the live cattle complex continues to trade higher traders may elect to conquer it later in the week.With a slight uptick in pork demand, the lean hog contracts were also rallying into Wednesday's close. So far this week the market has chopped mostly sideways as traders haven't wanted to push the contracts any higher without increased fundamental support. But the slight uptick in pork demand has traders willing to advance the contracts at this point in time.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/03/04135038/web-closing-markets.mp3">Click HERE for audio</a>

The U.S. farm machinery equipment market experienced challenges across many fronts in 2025. Recent data suggests many new and used equipment sales categories continued to decline last year. Additionally, lower grain prices and farm incomes, along with the elevated cost of borrowing money, have dampened farmer demand for equipment and machinery. Major manufacturers like Deere, CNH Industrial, and AGCO are adjusting their inventories by scaling back production. 

Reports show the most significant challenge was the tariffs implemented in 2025, which further squeezed manufacturer margins. In 2020, farm tractor sales grew by 17.7 percent, and combine sales rose by almost five percent. A market downturn became more pronounced in 2023 and continued sharply the following year. But despite the decline in sales, machinery and equipment prices remain high. The National Agricultural Statistics Service said the index for machinery prices increased 0.8 percent in December 2025 compared to 2024.  

The U.S. farm machinery equipment market experienced challenges across many fronts in 2025. Recent data suggests many new and used equipment sales categories continued to decline last year. Additionally, lower grain prices and farm incomes, along with the elevated cost of borrowing money, have dampened farmer demand for equipment and machinery. Major manufacturers like Deere, CNH Industrial, and AGCO are adjusting their inventories by scaling back production. Reports show the most significant challenge was the tariffs implemented in 2025, which further squeezed manufacturer margins. In 2020, farm tractor sales grew by 17.7 percent, and combine sales rose by almost five percent. A market downturn became more pronounced in 2023 and continued sharply the following year. But despite the decline in sales, machinery and equipment prices remain high. The National Agricultural Statistics Service said the index for machinery prices increased 0.8 percent in December 2025 compared to 2024. -NAFB

Farm machinery manufacturers facing headwinds

Farmer sentiment improved in February as the Purdue University/CME Group Ag Economy Barometer Index rose from 113 points in January to 116. The Current Conditions Index increased by 11 points, while the Future Expectations Index dropped one point. The Future Expectations Index this month was 45 points lower than last year’s February index, reaching its lowest level since September 2024. 

Although concerns about agricultural exports moderated somewhat from the previous month, they’re still higher than those expressed in December. In addition, the percentage of respondents who think the U.S. is headed in the “right direction” declined for the second month in a row. Almost 44 percent of respondents to the survey indicated that their farm operations were worse off in February than they were a year earlier. About 15 percent of respondents plan to reduce the size of their operations, while 34 percent said they don’t plan to grow at all. 

Farmer sentiment improved in February as the Purdue University/CME Group Ag Economy Barometer Index rose from 113 points in January to 116. The Current Conditions Index increased by 11 points, while the Future Expectations Index dropped one point. The Future Expectations Index this month was 45 points lower than last year’s February index, reaching its lowest level since September 2024. Although concerns about agricultural exports moderated somewhat from the previous month, they’re still higher than those expressed in December. In addition, the percentage of respondents who think the U.S. is headed in the “right direction” declined for the second month in a row. Almost 44 percent of respondents to the survey indicated that their farm operations were worse off in February than they were a year earlier. About 15 percent of respondents plan to reduce the size of their operations, while 34 percent said they don’t plan to grow at all. -NAFB

Farmer sentiment rebounds

May corn closed up 3/4 cents and July corn was up 1 1/4 cents. May soybeans closed up 6 1/2 cents and July soybeans were up 6 1/4 cents. May KC wheat closed up 3 1/2 cents, May Chicago wheat was down 3 1/4 cents, May Minneapolis wheat was up 3 1/4 cents.

Row crop futures raced to a strong start following Monday evening's open, bullishly influenced by another 5-6% move in crude oil futures as the U.S. and Israel-Iran war rages on. However, as was the case on Monday, the U.S. Dollar strengthened relative to other currencies, hitting the highest mark since late November before fading slightly through Tuesday's trade. Moreso, soybeans and soybean oil remain well overbought from a technical standpoint, and rally attempts beyond November highs are understandably being met with profit-taking speculative selling and likely producer hedging pressure as well. Still, despite finishing well below daily highs, futures appeared equally stubborn to move drastically lower than even, with several markets setting higher lows as compared to Monday's reversal session and ultimately closing with modest gains on Tuesday. Equity markets were a bearish flagship on Tuesday as well, with the Dow Jones Industrial Average down for a third consecutive session, although bouncing from what were almost three-month lows in early trade.

The live cattle complex got back to trading higher as traders seemed to have found some technical support throughout the day's trade. Today's slight uptick in price doesn't mean that the pressures (both external and internal) have merely disappeared, because they haven't, but rather instead that traders believe enough downside regression has been seen in the near term and that it's both acceptable and safe for the complex to trade mildly higher. No cash cattle trade has developed yet. Boxed beef prices are higher: choice up $6.60 ($387.94) and select up $1.53 ($379.74) with a movement of 54 loads (34.97 loads of choice, 4.66 loads of select, 3.63 loads of trim and 11.11 loads of ground beef).

And in keeping in unison, most of the feeder cattle complex followed the live cattle market's direction and was also trading slightly higher. The live cattle contracts were trading higher in a somewhat stable fashion, but the feeder cattle complex was much more sporadic about its trade this morning, bouncing back and forth throughout the vast majority of the entire session.

And without the support of stronger pork demand, the lean hog complex was trading mixed to lower into Tuesday's closing bell. And at this point, a sideways lower trend is expected to continue in the lean hog complex until fundamental support improves.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/03/03142506/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:May corn closed up 3/4 cents and July corn was up 1 1/4 cents. May soybeans closed up 6 1/2 cents and July soybeans were up 6 1/4 cents. May KC wheat closed up 3 1/2 cents, May Chicago wheat was down 3 1/4 cents, May Minneapolis wheat was up 3 1/4 cents.Row crop futures raced to a strong start following Monday evening's open, bullishly influenced by another 5-6% move in crude oil futures as the U.S. and Israel-Iran war rages on. However, as was the case on Monday, the U.S. Dollar strengthened relative to other currencies, hitting the highest mark since late November before fading slightly through Tuesday's trade. Moreso, soybeans and soybean oil remain well overbought from a technical standpoint, and rally attempts beyond November highs are understandably being met with profit-taking speculative selling and likely producer hedging pressure as well. Still, despite finishing well below daily highs, futures appeared equally stubborn to move drastically lower than even, with several markets setting higher lows as compared to Monday's reversal session and ultimately closing with modest gains on Tuesday. Equity markets were a bearish flagship on Tuesday as well, with the Dow Jones Industrial Average down for a third consecutive session, although bouncing from what were almost three-month lows in early trade.LIVESTOCK:The live cattle complex got back to trading higher as traders seemed to have found some technical support throughout the day's trade. Today's slight uptick in price doesn't mean that the pressures (both external and internal) have merely disappeared, because they haven't, but rather instead that traders believe enough downside regression has been seen in the near term and that it's both acceptable and safe for the complex to trade mildly higher. No cash cattle trade has developed yet. Boxed beef prices are higher: choice up $6.60 ($387.94) and select up $1.53 ($379.74) with a movement of 54 loads (34.97 loads of choice, 4.66 loads of select, 3.63 loads of trim and 11.11 loads of ground beef).And in keeping in unison, most of the feeder cattle complex followed the live cattle market's direction and was also trading slightly higher. The live cattle contracts were trading higher in a somewhat stable fashion, but the feeder cattle complex was much more sporadic about its trade this morning, bouncing back and forth throughout the vast majority of the entire session.And without the support of stronger pork demand, the lean hog complex was trading mixed to lower into Tuesday's closing bell. And at this point, a sideways lower trend is expected to continue in the lean hog complex until fundamental support improves.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/03/03142506/web-closing-markets.mp3">Click HERE for audio</a>

Ag Secretary Brooke Rollins announced the “One Farmer, One File” modernization plan, another action designed to put “farmers first” with sweeping technological improvements at the USDA. Speaking during the Commodity Classic, she said USDA’s plan is to create a single, streamlined record that follows farmers, no matter where they go in the USDA system. “The modernization of old, duplicative, wasteful systems has just one goal in mind, which is to improve our customer service so the people we serve are able to farm and feed America and the world,” she said. 

“So, the ‘One Farmer, One File’ prevents our farmers from duplicating tasks while it increases their productivity and time in the field.” Not only will it reduce the administrative burden for farmers, but it will also make program delivery more efficient, save time for USDA staff, and decrease spending on disparate information technology systems. 

Ag Secretary Brooke Rollins announced the “One Farmer, One File” modernization plan, another action designed to put “farmers first” with sweeping technological improvements at the USDA. Speaking during the Commodity Classic, she said USDA’s plan is to create a single, streamlined record that follows farmers, no matter where they go in the USDA system. “The modernization of old, duplicative, wasteful systems has just one goal in mind, which is to improve our customer service so the people we serve are able to farm and feed America and the world,” she said. “So, the ‘One Farmer, One File’ prevents our farmers from duplicating tasks while it increases their productivity and time in the field.” Not only will it reduce the administrative burden for farmers, but it will also make program delivery more efficient, save time for USDA staff, and decrease spending on disparate information technology systems. -NAFB

USDA launches “One Farmer, One File” initiative

About 180 million metric tons of fertilizers are consumed each year, and Forbes said roughly 55 to 60 million metric tons of urea move through international seaborne trade annually. The Middle East accounts for approximately 40 to 50 percent of that traded volume, and nearly all of those exports have to travel through the Strait of Hormuz. “In other words, more than one-quarter of the globally traded nitrogen fertilizer, and a meaningful share of total nitrogen production, moves through a single maritime choke point that is now threatened by war,” Forbes said. 

About 180 million metric tons of fertilizers are consumed each year, and Forbes said roughly 55 to 60 million metric tons of urea move through international seaborne trade annually. The Middle East accounts for approximately 40 to 50 percent of that traded volume, and nearly all of those exports have to travel through the Strait of Hormuz. “In other words, more than one-quarter of the globally traded nitrogen fertilizer, and a meaningful share of total nitrogen production, moves through a single maritime choke point that is now threatened by war,” Forbes said.

What Iran means for global fertilizer markets 

May corn closed down 2 3/4 cents and July corn was down 1 3/4 cents. May soybeans closed down 6 3/4 cents and July soybeans were down 5 3/4 cents. May KC wheat closed down 5 3/4 cents, May Chicago wheat was down 14 1/4 cents, May MIAX Minneapolis wheat was down 2 3/4 cents.

It should come as no shock headlines were dominated Monday with potential market implications to the spreading conflict in the Middle East which began over the weekend as the U.S. and Israel struck Iran and, in the process, killed Supreme Leader Ayatollah Ali Khamenei and other leadership personnel. President Trump warned on Monday the operation could last a month if not longer, leaving investors and traders with simply more questions than answers at this point regarding the impact on energy trade in particular. The U.S. dollar surged higher on investor flight to safety, pressuring ag commodities as a result, particularly wheat which broke away from a recently strong tie to oil futures. Crude oil futures gapped higher to levels not seen since the first U.S. strike against Iran back in June of 2025. Normally, firm energy markets would be a reason to expect spillover bullishness in U.S. row crops, but the high degree of anxiety over several unknowns (notably how U.S.-China relations will hold up) was too much for prices to overcome.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/02/09204004/30001.mp3">Click HERE for Audio</a>

Grains:May corn closed down 2 3/4 cents and July corn was down 1 3/4 cents. May soybeans closed down 6 3/4 cents and July soybeans were down 5 3/4 cents. May KC wheat closed down 5 3/4 cents, May Chicago wheat was down 14 1/4 cents, May MIAX Minneapolis wheat was down 2 3/4 cents.It should come as no shock headlines were dominated Monday with potential market implications to the spreading conflict in the Middle East which began over the weekend as the U.S. and Israel struck Iran and, in the process, killed Supreme Leader Ayatollah Ali Khamenei and other leadership personnel. President Trump warned on Monday the operation could last a month if not longer, leaving investors and traders with simply more questions than answers at this point regarding the impact on energy trade in particular. The U.S. dollar surged higher on investor flight to safety, pressuring ag commodities as a result, particularly wheat which broke away from a recently strong tie to oil futures. Crude oil futures gapped higher to levels not seen since the first U.S. strike against Iran back in June of 2025. Normally, firm energy markets would be a reason to expect spillover bullishness in U.S. row crops, but the high degree of anxiety over several unknowns (notably how U.S.-China relations will hold up) was too much for prices to overcome.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/02/09204004/30001.mp3">Click HERE for Audio</a>

The USDA’s National Agricultural Statistics Service released the 2024 Census of Horticultural Specialties Report, the only source of detailed production and sales data for floriculture, nursery, and specialty crops in 2024. Horticulture sales in 2024, compared to 2019, all show an increase in sales and number of operations due to the addition of mushroom and hemp grown under protection in the latest Census of Horticultural Specialties. The number of horticulture operations in the U.S. totaled 23,060. 

“The horticulture census provides data on sectors for which there are no other comprehensive data sources,” said NASS Administrator Joseph Parsons. “It’s a valuable tool to highlight the contribution horticulture growers bring to our local, state, and national economies, as well as changes in the industry during the past five years.” Family or individual-owned businesses make up the largest number of operations at 56 percent.

The USDA’s National Agricultural Statistics Service released the 2024 Census of Horticultural Specialties Report, the only source of detailed production and sales data for floriculture, nursery, and specialty crops in 2024. Horticulture sales in 2024, compared to 2019, all show an increase in sales and number of operations due to the addition of mushroom and hemp grown under protection in the latest Census of Horticultural Specialties. The number of horticulture operations in the U.S. totaled 23,060. “The horticulture census provides data on sectors for which there are no other comprehensive data sources,” said NASS Administrator Joseph Parsons. “It’s a valuable tool to highlight the contribution horticulture growers bring to our local, state, and national economies, as well as changes in the industry during the past five years.” Family or individual-owned businesses make up the largest number of operations at 56 percent.-NAFB

U.S. Horticulture Operations Report $18.3 Billion in Sales

The U.S. Fish and Wildlife Service finalized the removal of the Northern and Southern Distinct Population Segments of the lesser prairie chicken from the Endangered Species Act list. The National Cattlemen’s Beef Association and the Public Lands Council filed litigation to remove the listing when the lesser prairie chicken was first listed in 2022 due to the protections being both legally and scientifically flawed. 

“The ESA listing of the lesser prairie chicken, coupled with the designation of critical habitat across cattle country, created an unnecessary and unlawful burden for ranchers,” said NCBA President Gene Copenhaver. “Established science has repeatedly proven that healthy rangelands maintained by cattle grazing are exactly where the lesser prairie chicken thrives.” 

He also said grazing creates robust, sustainable habitat for the bird, and by removing this listing, the Trump administration is helping ranchers continue that stewardship.

The U.S. Fish and Wildlife Service finalized the removal of the Northern and Southern Distinct Population Segments of the lesser prairie chicken from the Endangered Species Act list. The National Cattlemen’s Beef Association and the Public Lands Council filed litigation to remove the listing when the lesser prairie chicken was first listed in 2022 due to the protections being both legally and scientifically flawed. “The ESA listing of the lesser prairie chicken, coupled with the designation of critical habitat across cattle country, created an unnecessary and unlawful burden for ranchers,” said NCBA President Gene Copenhaver. “Established science has repeatedly proven that healthy rangelands maintained by cattle grazing are exactly where the lesser prairie chicken thrives.” He also said grazing creates robust, sustainable habitat for the bird, and by removing this listing, the Trump administration is helping ranchers continue that stewardship.-NAFB

Lesser Prairie Chicken Delisted from the ESA

Ag Secretary Brooke Rollins announced the “One Farmer, One File” modernization plan, another action designed to put “farmers first” with sweeping technological improvements at the USDA. Speaking during the Commodity Classic, she said USDA’s plan is to create a single, streamlined record that follows farmers, no matter where they go in the USDA system. 

“The modernization of old, duplicative, wasteful systems has just one goal in mind, which is to improve our customer service so the people we serve are able to farm and feed America and the world,” she said. “So, the ‘One Farmer, One File’ prevents our farmers from duplicating tasks while it increases their productivity and time in the field.” 

Not only will it reduce the administrative burden for farmers, but it will also make program delivery more efficient, save time for USDA staff, and decrease spending on disparate information technology systems.

Ag Secretary Brooke Rollins announced the “One Farmer, One File” modernization plan, another action designed to put “farmers first” with sweeping technological improvements at the USDA. Speaking during the Commodity Classic, she said USDA’s plan is to create a single, streamlined record that follows farmers, no matter where they go in the USDA system. “The modernization of old, duplicative, wasteful systems has just one goal in mind, which is to improve our customer service so the people we serve are able to farm and feed America and the world,” she said. “So, the ‘One Farmer, One File’ prevents our farmers from duplicating tasks while it increases their productivity and time in the field.” Not only will it reduce the administrative burden for farmers, but it will also make program delivery more efficient, save time for USDA staff, and decrease spending on disparate information technology systems.-NAFB

USDA Launches “One Farmer, One File” Initiative

The wheat market led row crops higher on Friday, shaking off an otherwise sluggish week as traders took Thursday's successful hold of chart support, and lack of a deal between the U.S. and Iran as reason enough to halt profit-taking and follow the influence of higher crude oil prices to close the week. Along those lines, there were reports that Thursday's negotiations made some progress, and talks are expected to continue. Meanwhile, the surge in wheat prices positively influenced corn futures as well, which rose for the third straight session while covering technical ground. Soybeans were mixed through much of the session, struggling with resistance and hedging pressure as prices tread among November highs currently, but well supported to the downside by trade optimism and concerning conditions for the Argentine crop and ultimately managing a very strong close for the week. In outside markets, equities moved sharply lower again with the Dow Jones Industrial Average threatening a monthly loss for February, which would be the first monthly loss since April of 2025.

May corn closed up 5 cents and July corn was up 4 3/4 cents. May soybeans closed up 7 1/4 cents and July soybeans were up 6 1/2 cents. May KC wheat closed up 18 1/4 cents, May Chicago wheat was up 17 cents, May Minneapolis wheat was up 14 cents.

Live cattle futures posted active pressure across all futures contracts, with spot month February contracts trading $2 per cwt lower, while other nearby contracts traded $3 to $3.60 per cwt lower. Continued strong pressure in outside markets is adding additional pressure to the entire live cattle complex. Cash cattle markets are starting to improve with light trade reported in parts of Kansas at $244, $5 lower than last week's weighted averages. A few live deals are also being reported in parts of Nebraska. Some bids are now on the table in Texas, but so far, they are being passed. Boxed beef prices are Higher: choice up $1.08 ($378.97) and select up $3.44 ($374.23) with a movement of 48.35 loads (38.87 loads of choice, 2.46 loads of select, no loads of trim and 7.02 loads of ground beef).

Feeder cattle futures were leading the market lower Friday, as buyer support seemed to crack during the Thursday trading session. The overall lack of buying interest stepping into the market during initial trade Friday in outside markets seemed to leave even more pressure flooding into the complex. Spot month contracts held the best at this point with prices over $5 per cwt lower at midday, while other nearby contracts held $7 to $7.50 per cwt losses as traders have not only focusing on outside market pressure, but also a lack of market stability through the entire beef complex at the end of the month.

Lean hog futures once again were the quiet and more stable livestock market of the complex, with prices mixed within a very narrow trading range despite the aggressive selling pressure flooding into both the cattle trade and outside financial markets. April futures continued to trade higher through the morning and heading into midday, with a 30-cent gain developing. The rest of the complex remained slightly under pressure with losses of 5 to 15 cents per cwt holding in most nearby contracts. The overall lack of direction in both pork market technical trade as well as stability in market fundamental direction through late February seems to be a welcome relief compared to the market pressure across other markets.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/02/27140315/web-closing-markets-1.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:The wheat market led row crops higher on Friday, shaking off an otherwise sluggish week as traders took Thursday's successful hold of chart support, and lack of a deal between the U.S. and Iran as reason enough to halt profit-taking and follow the influence of higher crude oil prices to close the week. Along those lines, there were reports that Thursday's negotiations made some progress, and talks are expected to continue. Meanwhile, the surge in wheat prices positively influenced corn futures as well, which rose for the third straight session while covering technical ground. Soybeans were mixed through much of the session, struggling with resistance and hedging pressure as prices tread among November highs currently, but well supported to the downside by trade optimism and concerning conditions for the Argentine crop and ultimately managing a very strong close for the week. In outside markets, equities moved sharply lower again with the Dow Jones Industrial Average threatening a monthly loss for February, which would be the first monthly loss since April of 2025.May corn closed up 5 cents and July corn was up 4 3/4 cents. May soybeans closed up 7 1/4 cents and July soybeans were up 6 1/2 cents. May KC wheat closed up 18 1/4 cents, May Chicago wheat was up 17 cents, May Minneapolis wheat was up 14 cents.LIVESTOCK:Live cattle futures posted active pressure across all futures contracts, with spot month February contracts trading $2 per cwt lower, while other nearby contracts traded $3 to $3.60 per cwt lower. Continued strong pressure in outside markets is adding additional pressure to the entire live cattle complex. Cash cattle markets are starting to improve with light trade reported in parts of Kansas at $244, $5 lower than last week's weighted averages. A few live deals are also being reported in parts of Nebraska. Some bids are now on the table in Texas, but so far, they are being passed. Boxed beef prices are Higher: choice up $1.08 ($378.97) and select up $3.44 ($374.23) with a movement of 48.35 loads (38.87 loads of choice, 2.46 loads of select, no loads of trim and 7.02 loads of ground beef).Feeder cattle futures were leading the market lower Friday, as buyer support seemed to crack during the Thursday trading session. The overall lack of buying interest stepping into the market during initial trade Friday in outside markets seemed to leave even more pressure flooding into the complex. Spot month contracts held the best at this point with prices over $5 per cwt lower at midday, while other nearby contracts held $7 to $7.50 per cwt losses as traders have not only focusing on outside market pressure, but also a lack of market stability through the entire beef complex at the end of the month. Lean hog futures once again were the quiet and more stable livestock market of the complex, with prices mixed within a very narrow trading range despite the aggressive selling pressure flooding into both the cattle trade and outside financial markets. April futures continued to trade higher through the morning and heading into midday, with a 30-cent gain developing. The rest of the complex remained slightly under pressure with losses of 5 to 15 cents per cwt holding in most nearby contracts. The overall lack of direction in both pork market technical trade as well as stability in market fundamental direction through late February seems to be a welcome relief compared to the market pressure across other markets. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/02/27140315/web-closing-markets-1.mp3">Click HERE for audio</a>

Ag Secretary Brooke Rollins announced the imminent disposal of USDA’s South Building and Braddock Place, designed to reduce the real estate footprint of the U.S. Government in the National Capital Region. “This is a long overdue move to protect the American taxpayer dollars from being wasted on expensive real estate inside the Washington, D.C., area when our government should be closer to the producers we serve,” Rollins said. 

“More than 85 percent of the South Building is unoccupied, and there’s a $1.6 million backlog in deferred maintenance.” She also said it’s “unacceptable” to put these costs on the U.S. taxpayer. “We’re being strong stewards of taxpayer dollars while also ensuring top-notch customer service and fulfilling our promise to American farmers,” Rollins added. USDA Deputy Secretary Stephen Vaden added that the massive, underutilized real estate footprint wasn’t sustainable in the current USDA budget. 

Ag Secretary Brooke Rollins announced the imminent disposal of USDA’s South Building and Braddock Place, designed to reduce the real estate footprint of the U.S. Government in the National Capital Region. “This is a long overdue move to protect the American taxpayer dollars from being wasted on expensive real estate inside the Washington, D.C., area when our government should be closer to the producers we serve,” Rollins said. “More than 85 percent of the South Building is unoccupied, and there’s a $1.6 million backlog in deferred maintenance.” She also said it’s “unacceptable” to put these costs on the U.S. taxpayer. “We’re being strong stewards of taxpayer dollars while also ensuring top-notch customer service and fulfilling our promise to American farmers,” Rollins added. USDA Deputy Secretary Stephen Vaden added that the massive, underutilized real estate footprint wasn’t sustainable in the current USDA budget. -NAFB

USDA relocation plans moving forward

The Fertilizer Institute voiced strong support for key conservation, innovation, and nutrient stewardship provisions included in the House Agriculture Committee’s Farm Bill proposal. The organization is grateful that Chairman GT Thompson recognized the important role that nutrient stewardship and conservation technologies play in helping farmers produce abundant, affordable food while protecting natural resources. “These provisions in the draft Farm Bill reflect a practical, science-based approach to strengthening American agriculture,” said Corey Rosenbusch, president and CEO of the Institute. 

Of particular importance to TFI is the inclusion of a clear definition of plant biostimulants, as well as an exclusion to ensure that these innovative, nutrition-based products are not regulated as pesticides. “Incentivizing precision agriculture and enhanced efficiency technologies through conservation programs is a smart investment,” Rosenbusch added. “These tools help farmers get the most out of their applied fertilizer and deliver economic benefits on the farm while enhancing environmental protections.” 

The Fertilizer Institute voiced strong support for key conservation, innovation, and nutrient stewardship provisions included in the House Agriculture Committee’s Farm Bill proposal. The organization is grateful that Chairman GT Thompson recognized the important role that nutrient stewardship and conservation technologies play in helping farmers produce abundant, affordable food while protecting natural resources. “These provisions in the draft Farm Bill reflect a practical, science-based approach to strengthening American agriculture,” said Corey Rosenbusch, president and CEO of the Institute. Of particular importance to TFI is the inclusion of a clear definition of plant biostimulants, as well as an exclusion to ensure that these innovative, nutrition-based products are not regulated as pesticides. “Incentivizing precision agriculture and enhanced efficiency technologies through conservation programs is a smart investment,” Rosenbusch added. “These tools help farmers get the most out of their applied fertilizer and deliver economic benefits on the farm while enhancing environmental protections.” -NAFB

Fertilizer Institute applauds Farm Bill 2.0 

What began as another mixed and dull trade for Wednesday saw soybeans again gain bullish favor by late morning, shaking off overnight lows for the third time this week and very close to challenging November highs on the May contract. Corn futures were also able to move higher for the third time in the past four sessions and back among the highs of the year thus far. Meanwhile, wheat futures continue to slide on profit-taking directly tied to simmering geopolitical concerns ahead of Thursday's continuation of negotiations between the U.S. and Iran. Along those lines, crude oil futures were lower for the third straight session, but remain among the highs of 2026 with risk premium baked in. Equity markets continued their recovery of Monday's losses and treasuries were quietly lower.

May corn closed up 3 1/2 cents and July corn was up 2 3/4 cents. May soybeans closed up 9 3/4 cents and July soybeans were up 9 1/4 cents. May KC wheat closed down 2 3/4 cents, May Chicago wheat was down 3 1/2 cents, May Minneapolis wheat was up 1 1/2 cents.

The live cattle complex traded mostly lower into Thursday's closing bell, as the market seems to be holding its breath, unsure what's going to shake out in this week's fed cash cattle market and whether or not a strike is going to happen at JBS's plant in Greeley, Colorado. And with the market nearing resistance pressure, traders are simply unwilling to advance the contracts without further fundamental support. There are bids currently on the table in Nebraska and Texas, but no cattle have traded yet. Asking prices are noted at $388 to $390 in the North and at $250-plus in the South. Boxed beef prices were mixed: choice down $0.24 ($378.99) and select up $3.79 ($370.86) with a movement of 49 loads (28.44 loads of choice, 5.69 loads of select, 4.04 loads of trim and 10.55 loads of ground beef).

The feeder cattle complex was feeling the full effect of the market's underlying uncertainty as its contracts traded $5.00 to $6.00 lower for the bulk of Thursday's session. Without seeing the live cattle contracts trading higher -- and still no reassurance as to what's going to come of this week's fed cash cattle trade -- the feeder cattle contracts were left to trade sharply lower.

After an impressive seven-day rally, some of the nearby lean hog contracts traded slightly lower into Thursday's closing bell. With pork cutout values down again slightly, traders may be opting to reel back their support of the contracts until the market's fundamentals improve.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/02/26140648/web-closing-markets-1.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:What began as another mixed and dull trade for Wednesday saw soybeans again gain bullish favor by late morning, shaking off overnight lows for the third time this week and very close to challenging November highs on the May contract. Corn futures were also able to move higher for the third time in the past four sessions and back among the highs of the year thus far. Meanwhile, wheat futures continue to slide on profit-taking directly tied to simmering geopolitical concerns ahead of Thursday's continuation of negotiations between the U.S. and Iran. Along those lines, crude oil futures were lower for the third straight session, but remain among the highs of 2026 with risk premium baked in. Equity markets continued their recovery of Monday's losses and treasuries were quietly lower.May corn closed up 3 1/2 cents and July corn was up 2 3/4 cents. May soybeans closed up 9 3/4 cents and July soybeans were up 9 1/4 cents. May KC wheat closed down 2 3/4 cents, May Chicago wheat was down 3 1/2 cents, May Minneapolis wheat was up 1 1/2 cents.LIVESTOCK:The live cattle complex traded mostly lower into Thursday's closing bell, as the market seems to be holding its breath, unsure what's going to shake out in this week's fed cash cattle market and whether or not a strike is going to happen at JBS's plant in Greeley, Colorado. And with the market nearing resistance pressure, traders are simply unwilling to advance the contracts without further fundamental support. There are bids currently on the table in Nebraska and Texas, but no cattle have traded yet. Asking prices are noted at $388 to $390 in the North and at $250-plus in the South. Boxed beef prices were mixed: choice down $0.24 ($378.99) and select up $3.79 ($370.86) with a movement of 49 loads (28.44 loads of choice, 5.69 loads of select, 4.04 loads of trim and 10.55 loads of ground beef).The feeder cattle complex was feeling the full effect of the market's underlying uncertainty as its contracts traded $5.00 to $6.00 lower for the bulk of Thursday's session. Without seeing the live cattle contracts trading higher -- and still no reassurance as to what's going to come of this week's fed cash cattle trade -- the feeder cattle contracts were left to trade sharply lower. After an impressive seven-day rally, some of the nearby lean hog contracts traded slightly lower into Thursday's closing bell. With pork cutout values down again slightly, traders may be opting to reel back their support of the contracts until the market's fundamentals improve.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/02/26140648/web-closing-markets-1.mp3">Click HERE for audio</a>

The overall Rural Mainstreet Index dropped below a growth-neutral level of 50.0 for February. That’s according to the most recent monthly survey of bank CEOs in rural areas of a ten-state region dependent on agriculture or energy. The region’s overall reading for February fell to 47.9 from 52.0 in January. This marks the 12th time that the index has dropped below growth-neutral since January 2025. “Due to weakness in the farm economy, especially for grain, about 75 percent of bankers support additional Congressional financial support for the agriculture sector,” said Ernie Goss of Creighton University. “They said pullbacks in farm exports during 2025 continue to undermine the regional farm economy.” 

The February survey showed farm loan delinquency rates plateauing at a modest rate of less than 1.5 percent. The Farm and Ranchland Price Index also fell below growth neutral at 45.5. The overall index ranges from 0 to 100, with growth neutral at 50.0.

The overall Rural Mainstreet Index dropped below a growth-neutral level of 50.0 for February. That’s according to the most recent monthly survey of bank CEOs in rural areas of a ten-state region dependent on agriculture or energy. The region’s overall reading for February fell to 47.9 from 52.0 in January. This marks the 12th time that the index has dropped below growth-neutral since January 2025. “Due to weakness in the farm economy, especially for grain, about 75 percent of bankers support additional Congressional financial support for the agriculture sector,” said Ernie Goss of Creighton University. “They said pullbacks in farm exports during 2025 continue to undermine the regional farm economy.” The February survey showed farm loan delinquency rates plateauing at a modest rate of less than 1.5 percent. The Farm and Ranchland Price Index also fell below growth neutral at 45.5. The overall index ranges from 0 to 100, with growth neutral at 50.0.-NAFB

February Rural Mainstreet Index falls below growth neutral

A new ten percent U.S. tariff on goods from around the world took effect on Tuesday. Meatingplace said a list of tariff exemptions included beef, some fertilizers, and metals like steel and aluminum that are already under Section 232 national security tariffs. The ten percent tariff under Section 122 was announced last week after the Supreme Court struck down President Donald Trump’s widespread use of tariffs, in place since February 2025. “Section 122 only allows tariffs for 150 days without congressional action,” Meatingplace said. “The President had said over the weekend he was raising them to 15 percent, the cap set in Section 122, but Tuesday’s action remained at ten percent.” 

Fertilizers that are exempt from the new import tariffs include urea, ammonium nitrate, UAN, ammonium sulfate, along with DAP, MAP, and others. Ammonia, sulfuric acid, and sulfur are not exempt, unless they are imported via the U.S.-Mexico-Canada Trade Agreement.&nbsp;&nbsp;

A new ten percent U.S. tariff on goods from around the world took effect on Tuesday. Meatingplace said a list of tariff exemptions included beef, some fertilizers, and metals like steel and aluminum that are already under Section 232 national security tariffs. The ten percent tariff under Section 122 was announced last week after the Supreme Court struck down President Donald Trump’s widespread use of tariffs, in place since February 2025. “Section 122 only allows tariffs for 150 days without congressional action,” Meatingplace said. “The President had said over the weekend he was raising them to 15 percent, the cap set in Section 122, but Tuesday’s action remained at ten percent.” Fertilizers that are exempt from the new import tariffs include urea, ammonium nitrate, UAN, ammonium sulfate, along with DAP, MAP, and others. Ammonia, sulfuric acid, and sulfur are not exempt, unless they are imported via the U.S.-Mexico-Canada Trade Agreement.&nbsp;&nbsp;-NAFB

Beef, most fertilizers exempt from new tariffs

May corn closed up 3 1/2 cents and July corn was up 2 3/4 cents. May soybeans closed up 9 3/4 cents and July soybeans were up 9 1/4 cents. May KC wheat closed down 2 3/4 cents, May Chicago wheat was down 3 1/2 cents, May Minneapolis wheat was up 1 1/2 cents.

Although we still haven't heard whether or not there will be a union strike at the JBS plant in Greeley, Colorado, traders seemed comfortable advancing the live cattle contracts Wednesday. Still no cash cattle trade has developed and it's most likely trade will be delayed until Friday. If a plant strike does happen in Colorado, then there's a chance prices may trade steady as opposed to higher as not as many cattle would be needed in the immediate future. Boxed beef prices are higher: choice up $1.92 ($379.35) and select up $0.75 ($366.76) with a movement of 59 loads (34.16 loads of choice, 4.69 loads of select, 8.08 loads of trim and 11.88 loads of ground beef).

Upon seeing the live cattle complex step out and comfortably trade higher, the feeder cattle contracts were logging a sizeable rally ahead of Wednesday's noon hour. Nothing sent the live cattle contracts tumbling lower, the feeder cattle contracts were able to sustain the bulk of their rally into Wednesday's closing bell.

The lean hog complex continued to trade higher, keeping with what is now a seven-day rally as traders continue to drive the market higher upon the technical interest they've recently found. It's been interesting to watch the market's fundamentals play out over the last seven trading days as pork cutout values have been mostly mixed, but packer interest in the cash market has been better.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/02/25140634/web-closing-markets-1.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:May corn closed up 3 1/2 cents and July corn was up 2 3/4 cents. May soybeans closed up 9 3/4 cents and July soybeans were up 9 1/4 cents. May KC wheat closed down 2 3/4 cents, May Chicago wheat was down 3 1/2 cents, May Minneapolis wheat was up 1 1/2 cents.What began as another mixed and dull trade for Wednesday saw soybeans again gain bullish favor by late morning, shaking off overnight lows for the third time this week and very close to challenging November highs on the May contract. Corn futures were also able to move higher for the third time in the past four sessions and back among the highs of the year thus far. Meanwhile, wheat futures continue to slide on profit-taking directly tied to simmering geopolitical concerns ahead of Thursday's continuation of negotiations between the U.S. and Iran. Along those lines, crude oil futures were lower for the third straight session, but remain among the highs of 2026 with risk premium baked in. Equity markets continued their recovery of Monday's losses and treasuries were quietly lower.LIVESTOCK:Although we still haven't heard whether or not there will be a union strike at the JBS plant in Greeley, Colorado, traders seemed comfortable advancing the live cattle contracts Wednesday. Still no cash cattle trade has developed and it's most likely trade will be delayed until Friday. If a plant strike does happen in Colorado, then there's a chance prices may trade steady as opposed to higher as not as many cattle would be needed in the immediate future. Boxed beef prices are higher: choice up $1.92 ($379.35) and select up $0.75 ($366.76) with a movement of 59 loads (34.16 loads of choice, 4.69 loads of select, 8.08 loads of trim and 11.88 loads of ground beef).Upon seeing the live cattle complex step out and comfortably trade higher, the feeder cattle contracts were logging a sizeable rally ahead of Wednesday's noon hour. Nothing sent the live cattle contracts tumbling lower, the feeder cattle contracts were able to sustain the bulk of their rally into Wednesday's closing bell.The lean hog complex continued to trade higher, keeping with what is now a seven-day rally as traders continue to drive the market higher upon the technical interest they've recently found. It's been interesting to watch the market's fundamentals play out over the last seven trading days as pork cutout values have been mostly mixed, but packer interest in the cash market has been better.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/02/25140634/web-closing-markets-1.mp3">Click HERE for audio</a>

U.S. farm groups are urging Congress to move quickly on a new Farm Bill, warning that continued delays could increase uncertainty for producers heading into the 2026 growing season. Commodity organizations say programs covering crop insurance, conservation, nutrition assistance and farm safety nets need long-term stability. Congressional hearings are underway, but farm leaders say producers need clarity well before planting and financing decisions are finalized. 

Agricultural economists note that high input costs, volatile weather and global competition have increased reliance on federal support programs. Farm groups warn that a delayed bill could complicate lending decisions and participation in conservation initiatives. Congressional leaders say negotiations are ongoing but acknowledge challenges in reaching a bipartisan agreement. Farm organizations say timely passage is critical to maintaining confidence in the U.S. farm economy.

U.S. farm groups are urging Congress to move quickly on a new Farm Bill, warning that continued delays could increase uncertainty for producers heading into the 2026 growing season. Commodity organizations say programs covering crop insurance, conservation, nutrition assistance and farm safety nets need long-term stability. Congressional hearings are underway, but farm leaders say producers need clarity well before planting and financing decisions are finalized. Agricultural economists note that high input costs, volatile weather and global competition have increased reliance on federal support programs. Farm groups warn that a delayed bill could complicate lending decisions and participation in conservation initiatives. Congressional leaders say negotiations are ongoing but acknowledge challenges in reaching a bipartisan agreement. Farm organizations say timely passage is critical to maintaining confidence in the U.S. farm economy.-NAFB