December corn closed up 10 1/4 cents and March corn was up 10 cents. November soybeans closed up 12 3/4 cents and January soybeans were up 12 3/4 cents. December KC wheat closed up 4 3/4 cents, December Chicago wheat was up 2 cents, December Minneapolis wheat was up 1/4 cents.

December corn closed up 12 cents and March corn was up 10 3/4 cents. November soybeans closed up 19 1/4 cents and January soybeans were up 19 3/4 cents. December KC wheat closed up 5 1/4 cents, December Chicago wheat was up 2 cents and December Minneapolis wheat was up 5 3/4 cents.

The feature of Friday's session was the release of USDA's September WASDE and Crop Production reports, offering their estimates of how fall crops in the U.S. will turn out as well as a look into world grain supplies and usage. For the most part, I would classify the report as neutral, as in a way it didn't offer traders a whole lot that wasn't already expected or known. As is the case with many crop reports, there were bearish and bullish aspects that could be found within the fine details of Friday's numbers, some of which are discussed in more detail below. As for outside markets, it was mostly a quiet session with little news, but a weak consumer confidence reading from the University of Michigan weighed on investors' minds. Meanwhile, energy markets were higher into the weekend, but well off their daily highs with a mixed tone overall.

The live cattle contracts were back to trading lower as the market did not to see the support it needs to continue to drive prices higher. But with cash prices trending lower this week, and boxed beef prices seasonally softening as well, it's not bewildering to see the markets weaker again. It will be interesting to see if traders are able to keep the spot October contract above the market's 40-day moving average. If the market happens to close below that price point, more downward pressure could come.

Friday's WASDE report shared mixed news for the cattle and beef markets for 2025. Beef production for 2025 is expected to decline by 100 million pounds as both fed and non-fed slaughter speeds are expected to continue to decline through the year's end. The projected quarterly steer prices were bullish for the market as steers in the third quarter of 2025 are expected to average $240 ($2.00 higher from last month), steers in the fourth quarter of 2025 are expected to average $244 (up $4.00), steers in the first quarter of 2026 are expected to average $246 (up $5.00 from last month) and steers in the second quarter of 2026 are expected to average $248 (up $5.00 from last month). Beef imports for 2025 increased by 90 million pounds as the demand for lean processing beef is still high, but beef exports for 2025 decreased by 40 million pounds amid thin supplies and historically high prices.

The feeder cattle complex was again trading lower as the market struggles to find stable support in the futures complex. Not helping matters either is the fact that fed cash cattle prices are trading lower and boxed beef prices are softer, which has put a lower waning attitude across all of the marketplace.

The lean hog complex struggled to find upward momentum, as the market ran past resistance on Thursday but didn't finding enough support in the market's sphere today to push any higher. One may point to the uptick in pork cutout values on today's midday report as a reason why the hog contracts should be higher, but traders seem to find the technical resistance as more of a limiting factor.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/09/12145521/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 10 1/4 cents and March corn was up 10 cents. November soybeans closed up 12 3/4 cents and January soybeans were up 12 3/4 cents. December KC wheat closed up 4 3/4 cents, December Chicago wheat was up 2 cents, December Minneapolis wheat was up 1/4 cents.For the week:December corn closed up 12 cents and March corn was up 10 3/4 cents. November soybeans closed up 19 1/4 cents and January soybeans were up 19 3/4 cents. December KC wheat closed up 5 1/4 cents, December Chicago wheat was up 2 cents and December Minneapolis wheat was up 5 3/4 cents.The feature of Friday's session was the release of USDA's September WASDE and Crop Production reports, offering their estimates of how fall crops in the U.S. will turn out as well as a look into world grain supplies and usage. For the most part, I would classify the report as neutral, as in a way it didn't offer traders a whole lot that wasn't already expected or known. As is the case with many crop reports, there were bearish and bullish aspects that could be found within the fine details of Friday's numbers, some of which are discussed in more detail below. As for outside markets, it was mostly a quiet session with little news, but a weak consumer confidence reading from the University of Michigan weighed on investors' minds. Meanwhile, energy markets were higher into the weekend, but well off their daily highs with a mixed tone overall.LIVESTOCK:The live cattle contracts were back to trading lower as the market did not to see the support it needs to continue to drive prices higher. But with cash prices trending lower this week, and boxed beef prices seasonally softening as well, it's not bewildering to see the markets weaker again. It will be interesting to see if traders are able to keep the spot October contract above the market's 40-day moving average. If the market happens to close below that price point, more downward pressure could come.Friday's WASDE report shared mixed news for the cattle and beef markets for 2025. Beef production for 2025 is expected to decline by 100 million pounds as both fed and non-fed slaughter speeds are expected to continue to decline through the year's end. The projected quarterly steer prices were bullish for the market as steers in the third quarter of 2025 are expected to average $240 ($2.00 higher from last month), steers in the fourth quarter of 2025 are expected to average $244 (up $4.00), steers in the first quarter of 2026 are expected to average $246 (up $5.00 from last month) and steers in the second quarter of 2026 are expected to average $248 (up $5.00 from last month). Beef imports for 2025 increased by 90 million pounds as the demand for lean processing beef is still high, but beef exports for 2025 decreased by 40 million pounds amid thin supplies and historically high prices.The feeder cattle complex was again trading lower as the market struggles to find stable support in the futures complex. Not helping matters either is the fact that fed cash cattle prices are trading lower and boxed beef prices are softer, which has put a lower waning attitude across all of the marketplace.The lean hog complex struggled to find upward momentum, as the market ran past resistance on Thursday but didn't finding enough support in the market's sphere today to push any higher. One may point to the uptick in pork cutout values on today's midday report as a reason why the hog contracts should be higher, but traders seem to find the technical resistance as more of a limiting factor.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/09/12145521/web-closing-markets.mp3">Click HERE for audio</a>

Commodity markets daily recap

The Bureau of Land Management has begun the process of rolling back the Biden Administration’s rule allowing conservation leases on its land. The agency on Wednesday released a proposal to rescind the 2024 Public Lands Rule, which aimed to put conservation uses of land on equal footing with grazing, energy production, mining, and recreation. 

The Bureau of Land Management has begun the process of rolling back the Biden Administration’s rule allowing conservation leases on its land. The agency on Wednesday released a proposal to rescind the 2024 Public Lands Rule, which aimed to put conservation uses of land on equal footing with grazing, energy production, mining, and recreation.

Bureau of Land Management plans to scrap conservation leasing rule

Farm Equipment manufacturers say they are struggling under the high tariffs set by President Trump. Case IH’s Kurt Coffey, who serves as the company's vice president of its North America division, says the executive team he is on meets daily to unpack global trade developments. Case IH is in a good position overall, he says, with 80% to 90% of its machines produced in one of four U.S. production facilities, and 95% of its machinery base material, steel, is sourced domestically. 

We’ve continued to focus on how we make sure our customers have what they need as they’re going to harvest. German-based manufacturer Claas is a different story. Eighty percent of its row crop machinery portfolio is built in Europe and shipped to dealer lots in the U.S. Eric Raby, senior vice president of Claas, says, “We’ve absorbed a lot, as well. We’re not passing all of it to the customer.”

Farm Equipment manufacturers say they are struggling under the high tariffs set by President Trump. Case IH’s Kurt Coffey, who serves as the company's vice president of its North America division, says the executive team he is on meets daily to unpack global trade developments. Case IH is in a good position overall, he says, with 80% to 90% of its machines produced in one of four U.S. production facilities, and 95% of its machinery base material, steel, is sourced domestically. We’ve continued to focus on how we make sure our customers have what they need as they’re going to harvest. German-based manufacturer Claas is a different story. Eighty percent of its row crop machinery portfolio is built in Europe and shipped to dealer lots in the U.S. Eric Raby, senior vice president of Claas, says, “We’ve absorbed a lot, as well. We’re not passing all of it to the customer.”-NAFB

What farm equipment manufacturers are saying about 50% steel and aluminum tariffs

December corn closed up 2 3/4 cents and March corn was up 2 3/4 cents. November soybeans closed up 8 1/4 cents and January soybeans were up 7 3/4 cents. December KC wheat closed up 3 cents, December Chicago wheat was up 6 1/2 cents, December Minneapolis wheat was up 2 cents.

Grain markets traded higher on Thursday as traders continue to keep corn and soybean prices within their weekly ranges ahead of USDA's September WASDE report due out Friday at 11 a.m. CDT. The soybean market in particular led the charge higher on Thursday, erasing the results of the previous two lower sessions. Outside markets on Thursday were mixed with softer energy markets, but equities surging to new records. Consumer Price Index data for August painted a picture of much more concerning inflation as compared to the PPI released on Wednesday. Meanwhile, jobless claims were a four-year high on Thursday, which could potentially set up a dichotomy when the Federal Reserve meets next week to decide on interest rates. I'd also like to point out in Wednesday's comment, I mistakenly pointed to the PPI data as the Fed's "preferred inflation gauge," which is actually the Personal Consumption data due out later this month, not the PPI data as I had mistakenly alluded to.

Again today, the live cattle complex stepped forward and traded higher as traders seem to agree that the market has seen enough downward pressure for the time being. Thankfully, again today we see that trades moved the contracts away from the market's 40-day moving average, which thankfully is happening because a close below that threshold would likely signal more downward pressure. Although there are again bids beginning to renew in the countryside, no new trade has developed. So far this week Northern dressed cattle have traded from $375 to $378, which is $5.00 to $8.00 lower than last week's weighted average. Asking prices for cattle left to trade remain firm at $243 in the South and $378 plus in the North.

Thankfully, the feeder cattle complex has now also found support as all of its contracts traded well over $1.00 higher. It's the market's nearby contracts that traded above $2.00 higher, while most of the deferred contracts are just trading $1.00 to $1.70 higher into Thursday's closing bell, but luckily, the gloomy pressure that rested above the market on Tuesday and Wednesday has seemed to fade away.

It's been noteworthy day for the lean hog complex as the market has found enough support to gingerly break above its resistance at $97.00 in the spot October contract. But surprisingly, this seems to be a move being made by traders alone, as the market isn't lending much fundamental support, the day's export report wasn't that fruitful and midday pork cutout values were lower.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/09/11144407/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 2 3/4 cents and March corn was up 2 3/4 cents. November soybeans closed up 8 1/4 cents and January soybeans were up 7 3/4 cents. December KC wheat closed up 3 cents, December Chicago wheat was up 6 1/2 cents, December Minneapolis wheat was up 2 cents.Grain markets traded higher on Thursday as traders continue to keep corn and soybean prices within their weekly ranges ahead of USDA's September WASDE report due out Friday at 11 a.m. CDT. The soybean market in particular led the charge higher on Thursday, erasing the results of the previous two lower sessions. Outside markets on Thursday were mixed with softer energy markets, but equities surging to new records. Consumer Price Index data for August painted a picture of much more concerning inflation as compared to the PPI released on Wednesday. Meanwhile, jobless claims were a four-year high on Thursday, which could potentially set up a dichotomy when the Federal Reserve meets next week to decide on interest rates. I'd also like to point out in Wednesday's comment, I mistakenly pointed to the PPI data as the Fed's "preferred inflation gauge," which is actually the Personal Consumption data due out later this month, not the PPI data as I had mistakenly alluded to.LIVESTOCK:Again today, the live cattle complex stepped forward and traded higher as traders seem to agree that the market has seen enough downward pressure for the time being. Thankfully, again today we see that trades moved the contracts away from the market's 40-day moving average, which thankfully is happening because a close below that threshold would likely signal more downward pressure. Although there are again bids beginning to renew in the countryside, no new trade has developed. So far this week Northern dressed cattle have traded from $375 to $378, which is $5.00 to $8.00 lower than last week's weighted average. Asking prices for cattle left to trade remain firm at $243 in the South and $378 plus in the North.Thankfully, the feeder cattle complex has now also found support as all of its contracts traded well over $1.00 higher. It's the market's nearby contracts that traded above $2.00 higher, while most of the deferred contracts are just trading $1.00 to $1.70 higher into Thursday's closing bell, but luckily, the gloomy pressure that rested above the market on Tuesday and Wednesday has seemed to fade away. It's been noteworthy day for the lean hog complex as the market has found enough support to gingerly break above its resistance at $97.00 in the spot October contract. But surprisingly, this seems to be a move being made by traders alone, as the market isn't lending much fundamental support, the day's export report wasn't that fruitful and midday pork cutout values were lower.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/09/11144407/web-closing-markets.mp3">Click HERE for audio</a>

The USDA’s Economic Research Service says net cash farm income, defined as gross cash income minus cash expenses, is forecast to increase by $36.5 billion, or 25 percent, from 2024 to $180.7 billion in 2025 inflation-adjusted dollars. U.S. net farm income is forecast to increase by $48.8 billion, or 37 percent, to $179.8 billion in 2025. Net farm income is a broader measure of farm sector profitability that incorporates non-cash items like changes in inventories, economic depreciation, and gross imputed rental income. 

Most of the projected increase in 2025 corresponds with higher direct government payments to farmers, projected to increase from $10.4 billion in 2024 to $40.5 billion in 2025. The increase is expected largely because of supplemental and ad hoc disaster assistance for farmers and ranchers from the American Relief Act of 2025, which authorized economic assistance payments to producers and payments for losses in 2023 and 2024. 

The USDA’s Economic Research Service says net cash farm income, defined as gross cash income minus cash expenses, is forecast to increase by $36.5 billion, or 25 percent, from 2024 to $180.7 billion in 2025 inflation-adjusted dollars. U.S. net farm income is forecast to increase by $48.8 billion, or 37 percent, to $179.8 billion in 2025. Net farm income is a broader measure of farm sector profitability that incorporates non-cash items like changes in inventories, economic depreciation, and gross imputed rental income. Most of the projected increase in 2025 corresponds with higher direct government payments to farmers, projected to increase from $10.4 billion in 2024 to $40.5 billion in 2025. The increase is expected largely because of supplemental and ad hoc disaster assistance for farmers and ranchers from the American Relief Act of 2025, which authorized economic assistance payments to producers and payments for losses in 2023 and 2024. -NAFB

USDA says farm sector profits to grow in 2025

As farmers prepare to harvest what may be a record-large soybean crop, their largest export customer has yet to make a buy. Without a deal with China, North Dakota farmers may not get a bid for their soybeans. According to North Dakota Soybean Council Chair Jim Thompson, the local cash market is pushing growers to store their beans. 

North Dakota Soybean Growers Association President Justin Sherlock says the trade dispute with China needs to end. “Maybe it’s getting an interim trade deal with a country like China so we have somewhere to just physically move and sell those soybeans,” said Sherlock. He said farmers want the export markets restored first. “We just need to get rid of the crop right now, then we can figure out where we’re at financially as we go into the winter months and loan renewal season.”

As farmers prepare to harvest what may be a record-large soybean crop, their largest export customer has yet to make a buy. Without a deal with China, North Dakota farmers may not get a bid for their soybeans. According to North Dakota Soybean Council Chair Jim Thompson, the local cash market is pushing growers to store their beans. North Dakota Soybean Growers Association President Justin Sherlock says the trade dispute with China needs to end. “Maybe it’s getting an interim trade deal with a country like China so we have somewhere to just physically move and sell those soybeans,” said Sherlock. He said farmers want the export markets restored first. “We just need to get rid of the crop right now, then we can figure out where we’re at financially as we go into the winter months and loan renewal season.”-NAFB

Soybean leaders see export window narrowing with China

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

Ag futures and row crops specifically were generally on the lower side on Wednesday, but still within their recent trading ranges as traders aren't really looking to commit to big position swings ahead of USDA insight into the markets on Friday. Outside markets were mixed with energy futures higher after a fresh wave of geopolitical uncertainty after Poland reportedly shot down Russian drones in their airspace Tuesday night. Meanwhile, stock indices were mixed with the S&amp;P 500 surging to a new record amid a cool reading of the PPI Index on Wednesday, the Federal Reserve's favorite inflation gauge for guiding rate decisions, leaving less doubt in investors' minds that the Fed will cut rates in their meeting next week.

The live cattle complex&nbsp;traded softly higher into Wednesday's closing bell as the market is recovering some position lost from Tuesday's meltdown. The spot October contract continues to trade slightly above the market's 40-day moving average ($229.74), which will be a threshold to continue to monitor. If traders let the contracts fall below that point, a downward trend will likely continue. A few bids are currently on the table at $236 in Kansas and $235 live and $375 dressed in Nebraska, but no new sales have been reported following Tuesday's business. On Tuesday afternoon, there was a thin movement in the North at $378, which is $5.00 lower than the previous week's weighted average, but there weren't enough cattle traded to say that an accurate trend has been set for the week. Asking prices in the South are firm at $243 and in the North at $380.

The feeder cattle complex&nbsp;did not recover as much as the live cattle contracts, as only its nearby contracts traded higher while the deferred months continued to trade moderately lower. It seems as though Tuesday's sharp descent took the air out of the feeder cattle contracts, which is why they were slower to recover today.

The lean hog complex was chopping merely sideways as the market traders want to support the complex, but neither do they believe that they possess enough support to really push the contracts beyond the market's resistance. It is helpful that again this morning, the carcass price was higher, which is mainly because of the ham's $3.45 jump, and the belly's $2.71 gain.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/09/10150329/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed down 2 3/4 cents and March corn was down 3 cents. November soybeans closed down 6 cents and January soybeans were down 5 3/4 cents. December KC wheat closed down 3 1/4 cents, December Chicago wheat was down 5 1/4 cents, December Minneapolis wheat was down 4 1/2 cents.Ag futures and row crops specifically were generally on the lower side on Wednesday, but still within their recent trading ranges as traders aren't really looking to commit to big position swings ahead of USDA insight into the markets on Friday. Outside markets were mixed with energy futures higher after a fresh wave of geopolitical uncertainty after Poland reportedly shot down Russian drones in their airspace Tuesday night. Meanwhile, stock indices were mixed with the S&amp;P 500 surging to a new record amid a cool reading of the PPI Index on Wednesday, the Federal Reserve's favorite inflation gauge for guiding rate decisions, leaving less doubt in investors' minds that the Fed will cut rates in their meeting next week.LIVESTOCK:The live cattle complex&nbsp;traded softly higher into Wednesday's closing bell as the market is recovering some position lost from Tuesday's meltdown. The spot October contract continues to trade slightly above the market's 40-day moving average ($229.74), which will be a threshold to continue to monitor. If traders let the contracts fall below that point, a downward trend will likely continue. A few bids are currently on the table at $236 in Kansas and $235 live and $375 dressed in Nebraska, but no new sales have been reported following Tuesday's business. On Tuesday afternoon, there was a thin movement in the North at $378, which is $5.00 lower than the previous week's weighted average, but there weren't enough cattle traded to say that an accurate trend has been set for the week. Asking prices in the South are firm at $243 and in the North at $380.The feeder cattle complex&nbsp;did not recover as much as the live cattle contracts, as only its nearby contracts traded higher while the deferred months continued to trade moderately lower. It seems as though Tuesday's sharp descent took the air out of the feeder cattle contracts, which is why they were slower to recover today.The lean hog complex was chopping merely sideways as the market traders want to support the complex, but neither do they believe that they possess enough support to really push the contracts beyond the market's resistance. It is helpful that again this morning, the carcass price was higher, which is mainly because of the ham's $3.45 jump, and the belly's $2.71 gain.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/09/10150329/web-closing-markets.mp3">Click HERE for audio</a>

The U.S. agricultural trade deficit widened further in July, highlighting the challenge facing President Donald Trump as he vows to reverse the trend. Agricultural exports lagged imports by $4.97 billion in July, a gap 9% wider than a year earlier and the largest on record for the month. According to data released Monday by the U.S. Department of Agriculture That pushed the sector’s deficit to an unprecedented $33.6 billion for the first seven months of the year. 

The widening farm trade gap this year has been mostly driven by a jump in imports, just as Trump slapped tariffs on other countries in a push to shrink the overall deficit. That further cements a shift that has been building since the president’s first term, with a sector that has long run major trade surpluses becoming a consistent net importer. 

The U.S. agricultural trade deficit widened further in July, highlighting the challenge facing President Donald Trump as he vows to reverse the trend. Agricultural exports lagged imports by $4.97 billion in July, a gap 9% wider than a year earlier and the largest on record for the month. According to data released Monday by the U.S. Department of Agriculture That pushed the sector’s deficit to an unprecedented $33.6 billion for the first seven months of the year. The widening farm trade gap this year has been mostly driven by a jump in imports, just as Trump slapped tariffs on other countries in a push to shrink the overall deficit. That further cements a shift that has been building since the president’s first term, with a sector that has long run major trade surpluses becoming a consistent net importer. -NAFB

Ag trade deficit hit another record high in July

China imported a record volume of soybeans for August to build a buffer against possible shortages as a protracted trade war with the U.S. — its second-largest supplier — drags on. Reports show that China, the world’s biggest soybean importer, purchased 12.3 million metric tons in August, the highest ever recorded for the month, shoring up local availability before U.S. supplies begin to dominate the global market. China has traditionally sourced a large share of its soybean imports from the US, but ongoing trade tensions have pushed it to favor Brazil. 

The recent purchases reflect a strategic move to reduce reliance on US shipments ahead of the export season that is expected to peak in the coming months. Abundant imports, mainly from Brazil, have left Chinese crushers better prepared for a winter possibly without US soybeans. China’s stockpiles of imported soybeans totaled about 6.8 million tons as of last Friday, nearly the highest amount since March.

China imported a record volume of soybeans for August to build a buffer against possible shortages as a protracted trade war with the U.S. — its second-largest supplier — drags on. Reports show that China, the world’s biggest soybean importer, purchased 12.3 million metric tons in August, the highest ever recorded for the month, shoring up local availability before U.S. supplies begin to dominate the global market. China has traditionally sourced a large share of its soybean imports from the US, but ongoing trade tensions have pushed it to favor Brazil. The recent purchases reflect a strategic move to reduce reliance on US shipments ahead of the export season that is expected to peak in the coming months. Abundant imports, mainly from Brazil, have left Chinese crushers better prepared for a winter possibly without US soybeans. China’s stockpiles of imported soybeans totaled about 6.8 million tons as of last Friday, nearly the highest amount since March.-NAFB

China soybean imports at record high in August, but not from U.S.

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

Row crop futures were lower for the most part across the board on Tuesday, correcting from Monday's positive action as traders are really just sitting on their hands currently, waiting for USDA clues on Friday in terms of what to expect for the impending U.S. corn and soy harvests. Corn and soybean conditions fell again week over week, but it is somewhat normal to see some degree of decline ahead of harvest, and the cuts were not as large as some were expecting, which dampened bullish motivation somewhat for Tuesday. Outside markets on Tuesday were mixed and mostly quiet as well, with most of the attention going to the revisions lower in U.S. job creation stretching back to April 2024 by the Bureau of Labor Statistics, which in turn has investors waiting to see how the Federal Reserve will react in their meeting next week.

Tuesday was quite the tumultuous ride for the live cattle complex. At the day's initial start, the market was trading slightly lower, but as the morning progressed, traders exacerbated the day's decline to be one that was sharp and painful to watch, as most of the live cattle contracts traded $4.00 to $6.00 lower. And why, you ask? More than anything, today's move seemed to be triggered by technical nervousness, as traders continue to worry about the market's position and know that fundamental support could be slightly weaker for the next little while, as cash prices could be lower and seasonally boxed beef prices could decline as well. No developments have surfaced in the fed cash cattle market and aren't expected to until Wednesday or later this week.

Did you think Monday afternoon that come Tuesday, the feeder cattle complex would be trading limit lower in most of its contracts? I hate to speculate, but I think it's safe to say that most of us didn't foresee the cattle complex toppling down so aggressively, given that from a fundamental perspective, feeder cattle demand is incredible -- the CME feeder cattle index closed at $367.03 Monday afternoon. But what's important to keep in perspective here is that even though it's frustrating, and even though so many factors say that today's actions simply shouldn't be, traders don't have to obey sound logic, and not every move aligns with the reality of the countryside's fundamentals.

While the cattle complex fell flat on its face, the lean hog complex saw most of its contracts drift slightly lower, but not to the severe degree in which the cattle contracts were trading. More than anything, the slight pullback in the hog sector seems to be because traders are noting resistance pressure, and midday pork cutout values were lower, too.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/09/09140923/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed down 2 cents and March corn was down 2 cents. November soybeans closed down 2 1/2 cents and January soybeans were down 2 1/4 cents. December KC wheat closed down 7 cents, December Chicago wheat was down 3 1/2 cents, December Minneapolis wheat was down 2 3/4 cents.Row crop futures were lower for the most part across the board on Tuesday, correcting from Monday's positive action as traders are really just sitting on their hands currently, waiting for USDA clues on Friday in terms of what to expect for the impending U.S. corn and soy harvests. Corn and soybean conditions fell again week over week, but it is somewhat normal to see some degree of decline ahead of harvest, and the cuts were not as large as some were expecting, which dampened bullish motivation somewhat for Tuesday. Outside markets on Tuesday were mixed and mostly quiet as well, with most of the attention going to the revisions lower in U.S. job creation stretching back to April 2024 by the Bureau of Labor Statistics, which in turn has investors waiting to see how the Federal Reserve will react in their meeting next week.LIVESTOCK:Tuesday was quite the tumultuous ride for the live cattle complex. At the day's initial start, the market was trading slightly lower, but as the morning progressed, traders exacerbated the day's decline to be one that was sharp and painful to watch, as most of the live cattle contracts traded $4.00 to $6.00 lower. And why, you ask? More than anything, today's move seemed to be triggered by technical nervousness, as traders continue to worry about the market's position and know that fundamental support could be slightly weaker for the next little while, as cash prices could be lower and seasonally boxed beef prices could decline as well. No developments have surfaced in the fed cash cattle market and aren't expected to until Wednesday or later this week.Did you think Monday afternoon that come Tuesday, the feeder cattle complex would be trading limit lower in most of its contracts? I hate to speculate, but I think it's safe to say that most of us didn't foresee the cattle complex toppling down so aggressively, given that from a fundamental perspective, feeder cattle demand is incredible -- the CME feeder cattle index closed at $367.03 Monday afternoon. But what's important to keep in perspective here is that even though it's frustrating, and even though so many factors say that today's actions simply shouldn't be, traders don't have to obey sound logic, and not every move aligns with the reality of the countryside's fundamentals. While the cattle complex fell flat on its face, the lean hog complex saw most of its contracts drift slightly lower, but not to the severe degree in which the cattle contracts were trading. More than anything, the slight pullback in the hog sector seems to be because traders are noting resistance pressure, and midday pork cutout values were lower, too. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/09/09140923/web-closing-markets.mp3">Click HERE for audio</a>

The California Legislature has approved a bill to authorize the immediate sale of E15, a gasoline blend with 15% ethanol, but the measure still needs the signature of Gov. Gavin Newsom, whose administration signaled strong opposition to advancing E15 ahead of a California Air Resources Board regulatory review. In testimony at a Senate Appropriations Committee hearing last month on Assembly Bill 30, California Department of Finance officials labeled the bill as duplicative and unnecessary. 

A budget official pointed to the $2.3 million and 10 positions the Legislature approved this year for CARB to implement the new E15 standards, resources that will not be available until the agency completes its review. The administration’s opposition to AB 30 centers on new costs to the California Department of Food and Agriculture for enforcing petroleum product quality standards. Increasing fuel fees would run counter to the administration’s priority to lower gas prices.

The California Legislature has approved a bill to authorize the immediate sale of E15, a gasoline blend with 15% ethanol, but the measure still needs the signature of Gov. Gavin Newsom, whose administration signaled strong opposition to advancing E15 ahead of a California Air Resources Board regulatory review. In testimony at a Senate Appropriations Committee hearing last month on Assembly Bill 30, California Department of Finance officials labeled the bill as duplicative and unnecessary. A budget official pointed to the $2.3 million and 10 positions the Legislature approved this year for CARB to implement the new E15 standards, resources that will not be available until the agency completes its review. The administration’s opposition to AB 30 centers on new costs to the California Department of Food and Agriculture for enforcing petroleum product quality standards. Increasing fuel fees would run counter to the administration’s priority to lower gas prices.-NAFB

California E15 fate now in hands of Newsom, who opposed bill

On Monday the U.S. House passed a five-year reauthorization of USDA’s grain inspection program. The bipartisan United States Grain Standards Reauthorization Act includes some updates to the existing law, which expires September 30th, that are aimed in part at promoting new technology.

 The bill would require USDA to prioritize the adoption of improved grain grading technology to enable the efficient, accurate, and consistent grading of grain, and the legislation would exempt equipment and technology costs from a 30% cap on administrative and supervisory expenses that may be incurred under the law. The cap is intended to limit the overall cost of the program. The president and CEO of the National Grain and Feed Association, Mike Seyfert, calls the legislation “a must-pass bill for the entire grain value chain.”

On Monday the U.S. House passed a five-year reauthorization of USDA’s grain inspection program. The bipartisan United States Grain Standards Reauthorization Act includes some updates to the existing law, which expires September 30th, that are aimed in part at promoting new technology. The bill would require USDA to prioritize the adoption of improved grain grading technology to enable the efficient, accurate, and consistent grading of grain, and the legislation would exempt equipment and technology costs from a 30% cap on administrative and supervisory expenses that may be incurred under the law. The cap is intended to limit the overall cost of the program. The president and CEO of the National Grain and Feed Association, Mike Seyfert, calls the legislation “a must-pass bill for the entire grain value chain.”-NAFB

House passes grain inspection extension

Hundreds of struggling Arkansas farmers are pleading with the federal government to provide emergency funding amid a farm economy crisis. Almost everything that could go wrong for Arkansas farmers went wrong this year. A dismal global market and plunging commodity prices mean there’s little hope of breaking even, even as input costs soar because of inflation and tariffs—on top of bad weather earlier in the year. Inputs costs have gone up, fertilizer has gone up, commodity prices have gotten worse. 

“After a horrible year last year where most farmers in Arkansas lost money, this year is going to be worse,” said Derek Haigwood, a farmer from Independence and Jackson County. The “Big, Beautiful Bill” provided a much-needed update to safety net subsidies for farmers, they won’t see those federal dollars until late next year. By then, some have projected that as many as one-fourth—or even one-third—of Arkansas farmers could face bankruptcy or be forced out of business.

Hundreds of struggling Arkansas farmers are pleading with the federal government to provide emergency funding amid a farm economy crisis. Almost everything that could go wrong for Arkansas farmers went wrong this year. A dismal global market and plunging commodity prices mean there’s little hope of breaking even, even as input costs soar because of inflation and tariffs—on top of bad weather earlier in the year. Inputs costs have gone up, fertilizer has gone up, commodity prices have gotten worse. “After a horrible year last year where most farmers in Arkansas lost money, this year is going to be worse,” said Derek Haigwood, a farmer from Independence and Jackson County. The “Big, Beautiful Bill” provided a much-needed update to safety net subsidies for farmers, they won’t see those federal dollars until late next year. By then, some have projected that as many as one-fourth—or even one-third—of Arkansas farmers could face bankruptcy or be forced out of business.-NAFB

Arkansas Farmers Seeking Emergency Aid

California lawmakers voted Wednesday to allow the sale of a higher-ethanol gasoline blend that could help bring down fuel prices in the largest U.S. auto market. The sale of E15, a blend containing 15% ethanol, would be allowed immediately once the bill is signed by Governor Gavin Newsom. California had been the only U.S. state that did not allow sales of the fuel. The move likely will benefit biofuel producers and corn farmers, as it will expand the market for their products to the most populous U.S. state. 

California’s state Senate passed the bill, AB 30, in a unanimous 39-0 vote. The measure passed the state Assembly in June. California has been grappling with how to rein in skyrocketing pump prices while maintaining its ambitious environmental goals. California consumers cannot wait any longer,’ California Senator Laura Richardson said on the Senate floor while introducing the bill. She pointed to a University of California study that estimated that the fuel’s availability could lower gas prices in the state by 20 cents per gallon.

California lawmakers voted Wednesday to allow the sale of a higher-ethanol gasoline blend that could help bring down fuel prices in the largest U.S. auto market. The sale of E15, a blend containing 15% ethanol, would be allowed immediately once the bill is signed by Governor Gavin Newsom. California had been the only U.S. state that did not allow sales of the fuel. The move likely will benefit biofuel producers and corn farmers, as it will expand the market for their products to the most populous U.S. state. California’s state Senate passed the bill, AB 30, in a unanimous 39-0 vote. The measure passed the state Assembly in June. California has been grappling with how to rein in skyrocketing pump prices while maintaining its ambitious environmental goals. California consumers cannot wait any longer,’ California Senator Laura Richardson said on the Senate floor while introducing the bill. She pointed to a University of California study that estimated that the fuel’s availability could lower gas prices in the state by 20 cents per gallon.-NAFB

California Assembly Votes to Allow E15 Sales

American farmers are good at producing two crops: corn and soybeans. One of the largest crops in history in the coming weeks, according to the U.S. Department of Agriculture. The harvest follows several years of bumper crops for farmers, fueling a glut that is driving down commodity prices. Weaker prices are crimping profits and farmers’ ability to stay afloat. Technological advancements from the world’s largest seed and pesticide companies are expected to increase harvests in the coming years. 

The current market dynamic is years in the making. American farmers have been encouraged for decades to plant more acres and boost their harvests for a growing global population. The expectation was that new export destinations would emerge, according to industry officials. Finding partners beyond China has been difficult. Shifting trade policies and tariffs have complicated that equation further, leaving more crops in U.S. grain bins and countryside elevators. We need markets fast for this supply, said Kenneth Hartman Jr., an Illinois farmer and president of the National Corn Growers Association.

American farmers are good at producing two crops: corn and soybeans. One of the largest crops in history in the coming weeks, according to the U.S. Department of Agriculture. The harvest follows several years of bumper crops for farmers, fueling a glut that is driving down commodity prices. Weaker prices are crimping profits and farmers’ ability to stay afloat. Technological advancements from the world’s largest seed and pesticide companies are expected to increase harvests in the coming years. The current market dynamic is years in the making. American farmers have been encouraged for decades to plant more acres and boost their harvests for a growing global population. The expectation was that new export destinations would emerge, according to industry officials. Finding partners beyond China has been difficult. Shifting trade policies and tariffs have complicated that equation further, leaving more crops in U.S. grain bins and countryside elevators. We need markets fast for this supply, said Kenneth Hartman Jr., an Illinois farmer and president of the National Corn Growers Association.-NAFB

Corn and Soybean “Overproduction” is Becoming a Concern

December corn closed up 3 3/4 cents and March corn was up 3 cents. November soybeans closed up 6 3/4 cents and January soybeans were up 7 1/4 cents. December KC wheat closed up 12 cents, December Chicago wheat was up 4 1/2 cents, December MIAX Minneapolis wheat was up 10 3/4 cents.

Ag futures markets were out of the gate Monday with a mixed overall tone, with corn and soy markets trading both sides of even before managing to climb moderately higher by the close. Meanwhile, wheat markets attracted some buying attention amid long-term lows. This week may begin to see traders' position ahead of the September WASDE report due out from USDA on Friday, which is expected to potentially show cuts to USDA yield estimates following a shift to more difficult growing conditions in the Midwest through August.&nbsp;

The weakness in cattle futures last week has resurrected the idea that maybe a top has been established in the market. It is too early to tell whether that is the case or not. We have seen price retracements many times, only to see futures moving to new highs. However, some cash weakness with Northern dressed cattle trading $2.00 lower may put further pressure on the market. The weakness of cash in the North may offset Southern live cattle trading $1.00 higher.&nbsp;

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GrainsDecember corn closed up 3 3/4 cents and March corn was up 3 cents. November soybeans closed up 6 3/4 cents and January soybeans were up 7 1/4 cents. December KC wheat closed up 12 cents, December Chicago wheat was up 4 1/2 cents, December MIAX Minneapolis wheat was up 10 3/4 cents.Ag futures markets were out of the gate Monday with a mixed overall tone, with corn and soy markets trading both sides of even before managing to climb moderately higher by the close. Meanwhile, wheat markets attracted some buying attention amid long-term lows. This week may begin to see traders' position ahead of the September WASDE report due out from USDA on Friday, which is expected to potentially show cuts to USDA yield estimates following a shift to more difficult growing conditions in the Midwest through August.&nbsp;Live CattleThe weakness in cattle futures last week has resurrected the idea that maybe a top has been established in the market. It is too early to tell whether that is the case or not. We have seen price retracements many times, only to see futures moving to new highs. However, some cash weakness with Northern dressed cattle trading $2.00 lower may put further pressure on the market. The weakness of cash in the North may offset Southern live cattle trading $1.00 higher.&nbsp;<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/19194004/30001.mp3">Click HERE for Audio</a>

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

December corn closed down 2 1/4 cents and March corn was down 1 1/4 cents. November soybeans closed down 27 1/2 cents and January soybeans were down 27 cents. December KC wheat closed down 11 cents, December Chicago wheat was down 17 cents and December Minneapolis wheat was down 14 cents.

Agricultural markets were mostly calm Friday, and for the most part followed weekly trends into the close, featuring reversals off early session gains. Corn futures looked to be heading for a third positive session out of four tries this week before bears regained control by the last hour of trade. Meanwhile, soybean prices fell again following Thursday's impressive afternoon rally. Wheat markets remained limited in terms of upward momentum but were also able to stabilize following Thursday's ugly morning trade which sent prices to new lows. Outside markets to close the week were mostly a negative influence on agriculture, with another round of sluggish jobs data Friday morning sending equities lower and also weighing on energy markets. Also weighing on energies was Thursday's EIA inventory report which showed U.S. crude oil stocks higher week-over-week and year-over-year, as well as the OPEC+ meeting over the weekend. Treasury yields inched higher to close the week with the apparent slowing of the labor market, increasing the likelihood of a rate cut from the Federal Reserve in their meeting later this month.

The live cattle complex continued to etch lower and lower as the market isn't seeing the fundamental support it needs to convince traders that the market's direction should change. Following the trade that developed in the cash market on Thursday, no new cash cattle trade has surfaced thus far, and it's looking like the bulk of this week's business could be done with. So far this week Southern live cattle have traded anywhere from $242 to $243, which is steady to $1.00 higher than last week's weighted average, and Northern dressed cattle have traded at mostly $383, which is $2.00 lower than last week's weighted average.

And again today, the feeder cattle complex was following in the same direction as that of the live cattle market, as even though demand in the countryside remains historic, traders are waving their white flag for the time being and are fixated on working the contracts lower. As time moves closer and closer to the end of September/early October, it will be interesting to see the sheer volume of calves traded at sale barns as more cattle were moved earlier this year.

The momentum that's run with the lean hog complex for the vast majority of the week continued to sustain through Friday's session as the contracts kept trading higher. It is helpful that today, pork cutout values were higher, which is mainly because of the $5.07 increase in the picnic and the $4.13 jump in the loin.

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By: NATHAN STUEDLEGRAINS:December corn closed down 1 3/4 cents and March corn was down 1 cent. November soybeans closed down 6 cents and January soybeans were down 6 cents. December KC wheat closed down 1 cent, December Chicago wheat was down 1/4 cents, December Minneapolis wheat was down 4 1/4 cents.For the week:December corn closed down 2 1/4 cents and March corn was down 1 1/4 cents. November soybeans closed down 27 1/2 cents and January soybeans were down 27 cents. December KC wheat closed down 11 cents, December Chicago wheat was down 17 cents and December Minneapolis wheat was down 14 cents.Agricultural markets were mostly calm Friday, and for the most part followed weekly trends into the close, featuring reversals off early session gains. Corn futures looked to be heading for a third positive session out of four tries this week before bears regained control by the last hour of trade. Meanwhile, soybean prices fell again following Thursday's impressive afternoon rally. Wheat markets remained limited in terms of upward momentum but were also able to stabilize following Thursday's ugly morning trade which sent prices to new lows. Outside markets to close the week were mostly a negative influence on agriculture, with another round of sluggish jobs data Friday morning sending equities lower and also weighing on energy markets. Also weighing on energies was Thursday's EIA inventory report which showed U.S. crude oil stocks higher week-over-week and year-over-year, as well as the OPEC+ meeting over the weekend. Treasury yields inched higher to close the week with the apparent slowing of the labor market, increasing the likelihood of a rate cut from the Federal Reserve in their meeting later this month.LIVESTOCK:The live cattle complex continued to etch lower and lower as the market isn't seeing the fundamental support it needs to convince traders that the market's direction should change. Following the trade that developed in the cash market on Thursday, no new cash cattle trade has surfaced thus far, and it's looking like the bulk of this week's business could be done with. So far this week Southern live cattle have traded anywhere from $242 to $243, which is steady to $1.00 higher than last week's weighted average, and Northern dressed cattle have traded at mostly $383, which is $2.00 lower than last week's weighted average. And again today, the feeder cattle complex was following in the same direction as that of the live cattle market, as even though demand in the countryside remains historic, traders are waving their white flag for the time being and are fixated on working the contracts lower. As time moves closer and closer to the end of September/early October, it will be interesting to see the sheer volume of calves traded at sale barns as more cattle were moved earlier this year.The momentum that's run with the lean hog complex for the vast majority of the week continued to sustain through Friday's session as the contracts kept trading higher. It is helpful that today, pork cutout values were higher, which is mainly because of the $5.07 increase in the picnic and the $4.13 jump in the loin.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/09/05141849/web-closing-markets.mp3">Click HERE for audio</a>

The Renewable Fuels Association applauded the California Senate’s passing of a bill that would allow the sale of E15, saying the state is much closer to cleaner fuel use. The Association said the bill moves on to the governor’s desk for approval. Last year, Governor Gavin Newsom said ethanol blends have massive potential and will lower gas prices while keeping the air clean. 

Researchers at the University of California-Berkeley and the U.S. Naval Academy said in a report that California consumers may see up to $2.7 billion in savings every year by having E15 available. California is the only state that doesn’t allow sales of the fuel blend. The analysis also finds that a unit increase in octane level results in a value premium of about 11 cents per gallon. California’s transition from E10 to E15 could save about 13 cents per gallon on average due to the lower carbon intensity of E15.&nbsp;

The Renewable Fuels Association applauded the California Senate’s passing of a bill that would allow the sale of E15, saying the state is much closer to cleaner fuel use. The Association said the bill moves on to the governor’s desk for approval. Last year, Governor Gavin Newsom said ethanol blends have massive potential and will lower gas prices while keeping the air clean. Researchers at the University of California-Berkeley and the U.S. Naval Academy said in a report that California consumers may see up to $2.7 billion in savings every year by having E15 available. California is the only state that doesn’t allow sales of the fuel blend. The analysis also finds that a unit increase in octane level results in a value premium of about 11 cents per gallon. California’s transition from E10 to E15 could save about 13 cents per gallon on average due to the lower carbon intensity of E15.&nbsp;-NAFB

California senate passes E15 bill

Most of the projected increase in 2025 corresponds with higher direct government payments to farmers, projected to increase from $10.4 billion in 2024 to $40.5 billion in 2025. The increase is expected largely because of supplemental and ad hoc disaster assistance for farmers and ranchers from the American Relief Act of 2025, which authorized economic assistance payments to producers and payments for losses in 2023 and 2024.&nbsp;

The USDA’s Economic Research Service says net cash farm income, defined as gross cash income minus cash expenses, is forecast to increase by $36.5 billion, or 25 percent, from 2024 to $180.7 billion in 2025 inflation-adjusted dollars. U.S. net farm income is forecast to increase by $48.8 billion, or 37 percent, to $179.8 billion in 2025. Net farm income is a broader measure of farm sector profitability that incorporates non-cash items like changes in inventories, economic depreciation, and gross imputed rental income. Most of the projected increase in 2025 corresponds with higher direct government payments to farmers, projected to increase from $10.4 billion in 2024 to $40.5 billion in 2025. The increase is expected largely because of supplemental and ad hoc disaster assistance for farmers and ranchers from the American Relief Act of 2025, which authorized economic assistance payments to producers and payments for losses in 2023 and 2024.&nbsp;-NAFB

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

The bearish start to September continued early Thursday before buyers stepped up by late morning, eventually turning soybean and corn futures slightly higher by the close. Meanwhile, wheat futures remain under heavy pressure but are quickly approaching long-term chart support. For now, with a lack of significant market-moving news traders are opting to trade seasonality, of which 5- and 10-year indices suggest a weak start to September while also suggesting the market may start feeling for a pre-harvest bottom over August and September as well. Outside markets were mixed on Thursday with energies mostly lower, but stock indices recovered from a sluggish restart to trade post Labor Day.

The mundane sideways to somewhat lower chop continued in the live cattle complex, as no further trade has developed in the fed cash cattle market, and traders remain concerned that the market could be overbought. Traders continued with their cautious tone throughout the day as the market didn't see anything wild and unexpected develop yet in terms of fundamental support, and even if the fed cash cattle market were able to trade a tick higher, there's a chance that traders could be numb to positive development. This morning, asking prices are around $244 to $245 in the South, but they are still not fully established in the North. There was a thin movement of cattle that sold yesterday afternoon at $242 in the South, which is steady with last week's weighted average, and some dressed trade was reported in the North at $383 to $385, which is $1.00 to $2.00 lower than last week's weighted average.

In the feeder cattle complex, traders remain uncertain about the market's technical position, the downward trend continued to be the livestock market's theme thus far through Thursday's trade. And once again, this nervousness remains an issue for the market in terms of its position throughout the futures complex, but is not a concern in the countryside as feeder cattle continue to see incredible demand thanks to the continued interest of buyers.

Following Wednesday's sharp sell-off, the lean hog complex has again seemed to find some footing in the marketplace as it's back to trading higher. It's likely that the resistance pressure that caused the market to fall on Wednesday will be a limiting factor for the market any time soon unless fundamental support gains substantial ground and lends traders substantially more support.

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By: NATHAN STUEDLEGRAINS:December corn closed up 1 3/4 cents and March corn was up 1 1/2 cents. November soybeans closed up 1 1/2 cents and January soybeans were up 1 1/2 cents. December KC wheat closed down 4 cents, December Chicago wheat was down 2 1/2 cents, December Minneapolis wheat was down 2 3/4 cents.The bearish start to September continued early Thursday before buyers stepped up by late morning, eventually turning soybean and corn futures slightly higher by the close. Meanwhile, wheat futures remain under heavy pressure but are quickly approaching long-term chart support. For now, with a lack of significant market-moving news traders are opting to trade seasonality, of which 5- and 10-year indices suggest a weak start to September while also suggesting the market may start feeling for a pre-harvest bottom over August and September as well. Outside markets were mixed on Thursday with energies mostly lower, but stock indices recovered from a sluggish restart to trade post Labor Day.LIVE CATTLE:The mundane sideways to somewhat lower chop continued in the live cattle complex, as no further trade has developed in the fed cash cattle market, and traders remain concerned that the market could be overbought. Traders continued with their cautious tone throughout the day as the market didn't see anything wild and unexpected develop yet in terms of fundamental support, and even if the fed cash cattle market were able to trade a tick higher, there's a chance that traders could be numb to positive development. This morning, asking prices are around $244 to $245 in the South, but they are still not fully established in the North. There was a thin movement of cattle that sold yesterday afternoon at $242 in the South, which is steady with last week's weighted average, and some dressed trade was reported in the North at $383 to $385, which is $1.00 to $2.00 lower than last week's weighted average.In the feeder cattle complex, traders remain uncertain about the market's technical position, the downward trend continued to be the livestock market's theme thus far through Thursday's trade. And once again, this nervousness remains an issue for the market in terms of its position throughout the futures complex, but is not a concern in the countryside as feeder cattle continue to see incredible demand thanks to the continued interest of buyers. Following Wednesday's sharp sell-off, the lean hog complex has again seemed to find some footing in the marketplace as it's back to trading higher. It's likely that the resistance pressure that caused the market to fall on Wednesday will be a limiting factor for the market any time soon unless fundamental support gains substantial ground and lends traders substantially more support.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/09/04141832/web-closing-markets.mp3">Click HERE for audio</a>

 The USDA extended the public comment period for its controversial reorganization plan to September 30. Reports say, that doubles the length of time provided for input on an initiative that has drawn criticism from both Democrats and Republicans since it was unveiled last month. The agency originally released the plan for public comment on July 24 for a period of 30 days. A department webpage that earlier listed the deadline as August 31 now says September 30. 

A USDA spokesperson said the additional days in the comment period are to ensure everyone who wants to submit feedback can do so. Lawmakers from both sides of the aisle criticized USDA over its rollout of the plan, which calls for relocating much of its Washington-area workforce to five regional hubs across the country. Senate Democrats sent a letter urging Ag Secretary Brooke Rollins to extend the comment period by at least 60 days.

The USDA extended the public comment period for its controversial reorganization plan to September 30. Reports say, that doubles the length of time provided for input on an initiative that has drawn criticism from both Democrats and Republicans since it was unveiled last month. The agency originally released the plan for public comment on July 24 for a period of 30 days. A department webpage that earlier listed the deadline as August 31 now says September 30. A USDA spokesperson said the additional days in the comment period are to ensure everyone who wants to submit feedback can do so. Lawmakers from both sides of the aisle criticized USDA over its rollout of the plan, which calls for relocating much of its Washington-area workforce to five regional hubs across the country. Senate Democrats sent a letter urging Ag Secretary Brooke Rollins to extend the comment period by at least 60 days.-NAFB

USDA extends reorganization public comment deadline to September 30

The National Pork Board has named David Newman the organization’s new CEO. Newman was recently the NPB’s senior vice president of market growth. “After a thorough and thoughtful nationwide executive search process, we have found an exceptional and dedicated leader in agriculture to take the organization representing America’s nearly 60,000 pork producers into the future,” said Gordon Spronk, President of the NPB. 

“David has proven himself to be leadership-oriented, producer-focused, and outcomes-driven when it comes to ensuring the pork industry is addressing the challenges and opportunities ahead of us.” Newman received a doctorate in meat and animal science from North Dakota State University. “It’s a privilege to work for and on behalf of pork producers,” Newman said. “We make a flavorful, nutritious product that’s beloved by millions of people across the globe.” He also said that the checkoff is doing a lot of work to drive demand from new consumers. 

The National Pork Board has named David Newman the organization’s new CEO. Newman was recently the NPB’s senior vice president of market growth. “After a thorough and thoughtful nationwide executive search process, we have found an exceptional and dedicated leader in agriculture to take the organization representing America’s nearly 60,000 pork producers into the future,” said Gordon Spronk, President of the NPB. “David has proven himself to be leadership-oriented, producer-focused, and outcomes-driven when it comes to ensuring the pork industry is addressing the challenges and opportunities ahead of us.” Newman received a doctorate in meat and animal science from North Dakota State University. “It’s a privilege to work for and on behalf of pork producers,” Newman said. “We make a flavorful, nutritious product that’s beloved by millions of people across the globe.” He also said that the checkoff is doing a lot of work to drive demand from new consumers. -NAFB

National Pork Board chooses a new CEO

December corn closed down 5 cents and March corn was down 4 3/4 cents. November soybeans closed down 9 1/2 cents and January soybeans were down 9 1/2 cents. December KC wheat closed down 1 cent, December Chicago wheat was down 6 1/4 cents, December Minneapolis wheat was down 1 1/4 cents.

U.S. crop prices were under pressure again Wednesday following a prominent advisory firm unveiling the results of their August yield survey, similar to USDA and others which found corn and soybean yields both above trend. Despite a challenging August for weather in some areas and declining crop conditions in Tuesday's update from USDA, traders are currently seeing very little supply risk as 2025 harvest grows nearer each day. Outside markets on Wednesday were mixed, with equities again on the retreat from last week's highs ahead of what is typically a tough month of September. Meanwhile, energy markets were lower on rumors of another OPEC+ production increase coming in October, which weighed on soybean oil prices which headed to their sixth loss in the past seven sessions.

Live cattle futures moved lower during the session on Wednesday, although compared to the rest of the livestock market, the live cattle complex seemed to be hold the best of all markets. October futures were leading the downward shift in morning losses, but it is important to remember that just because prices are not continuing the aggressive rocket-like shift higher, this does not mean that the market is at or near its top. As of last week, traders continue to maintain a strong net long position in the cattle market in general, and specifically live cattle futures point to continued optimism and positive expectations for price levels in the days and weeks to come. More focus is shifting to the ability to continue to move wholesale and retail beef levels and maintain current or higher price levels now that the summer grilling season is wrapping up. Cash cattle activity has been sluggish once again, with a slow start to the day; bids and asking prices are not established.

Feeder cattle futures lead the market lower midweek, with triple-digit losses seen in all nearby and most deferred contract months. October futures posted the most aggressive pressure with prices over $2 per cwt lower at times during morning trade. The combination of widespread pressure in most ag markets and most commodity markets Wednesday is causing buyer apathy at this point. It is important to remember that a down day in the market does not indicate a lower-moving market in general, as the tone of the market still remains extremely aggressive with prices near all-time highs. Although it is never comfortable to watch, light to moderate corrections within a market are part of a healthy moving market, and many times are needed in order to draw additional buyers to the market over the coming days and weeks. Cash markets remain active with the USDA National feeder cattle summary released Tuesday reporting steers and heifers selling 5.00 to 10.00 higher compared to the previous week.

Lean hog futures were under pressure Wednesday, with outside market softness becoming a larger focus midweek in the hog complex. October futures continued to lead the market lower with triple-digit losses as traders continue to adjust to the current market shifts, with a portion becoming more aggressive in rolling to the December contracts. Even though prices have fluctuated over the past few weeks, and uncertainty about long-term export demand remains a significant concern, prices are still well above the 40-day moving average, which is helping add technical support to the entire complex.

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By: NATHAN STUEDLEGRAINS:December corn closed down 5 cents and March corn was down 4 3/4 cents. November soybeans closed down 9 1/2 cents and January soybeans were down 9 1/2 cents. December KC wheat closed down 1 cent, December Chicago wheat was down 6 1/4 cents, December Minneapolis wheat was down 1 1/4 cents.U.S. crop prices were under pressure again Wednesday following a prominent advisory firm unveiling the results of their August yield survey, similar to USDA and others which found corn and soybean yields both above trend. Despite a challenging August for weather in some areas and declining crop conditions in Tuesday's update from USDA, traders are currently seeing very little supply risk as 2025 harvest grows nearer each day. Outside markets on Wednesday were mixed, with equities again on the retreat from last week's highs ahead of what is typically a tough month of September. Meanwhile, energy markets were lower on rumors of another OPEC+ production increase coming in October, which weighed on soybean oil prices which headed to their sixth loss in the past seven sessions.LIVESTOCK:Live cattle futures moved lower during the session on Wednesday, although compared to the rest of the livestock market, the live cattle complex seemed to be hold the best of all markets. October futures were leading the downward shift in morning losses, but it is important to remember that just because prices are not continuing the aggressive rocket-like shift higher, this does not mean that the market is at or near its top. As of last week, traders continue to maintain a strong net long position in the cattle market in general, and specifically live cattle futures point to continued optimism and positive expectations for price levels in the days and weeks to come. More focus is shifting to the ability to continue to move wholesale and retail beef levels and maintain current or higher price levels now that the summer grilling season is wrapping up. Cash cattle activity has been sluggish once again, with a slow start to the day; bids and asking prices are not established.Feeder cattle futures lead the market lower midweek, with triple-digit losses seen in all nearby and most deferred contract months. October futures posted the most aggressive pressure with prices over $2 per cwt lower at times during morning trade. The combination of widespread pressure in most ag markets and most commodity markets Wednesday is causing buyer apathy at this point. It is important to remember that a down day in the market does not indicate a lower-moving market in general, as the tone of the market still remains extremely aggressive with prices near all-time highs. Although it is never comfortable to watch, light to moderate corrections within a market are part of a healthy moving market, and many times are needed in order to draw additional buyers to the market over the coming days and weeks. Cash markets remain active with the USDA National feeder cattle summary released Tuesday reporting steers and heifers selling 5.00 to 10.00 higher compared to the previous week. Lean hog futures were under pressure Wednesday, with outside market softness becoming a larger focus midweek in the hog complex. October futures continued to lead the market lower with triple-digit losses as traders continue to adjust to the current market shifts, with a portion becoming more aggressive in rolling to the December contracts. Even though prices have fluctuated over the past few weeks, and uncertainty about long-term export demand remains a significant concern, prices are still well above the 40-day moving average, which is helping add technical support to the entire complex.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/09/03143843/web-closing-markets.mp3">Click HERE for audio</a>

Farmer sentiment dipped for the third straight month in August. The Purdue University/CME Group Ag Economy Barometer dropped 10 points to 125. Producers expressed less optimism about the future, as reflected in the Index of Future Expectations, which fell 16 points to 123. That’s the lowest reading for the futures index since last September. Producers’ perspectives on current conditions changed little during the month, with the Current Conditions Index rising two points from July to 129 in August. 

Sentiment differed greatly among producers according to whether their operations relied mostly on crops or livestock. Crop producers responded to the survey with much less optimism than their livestock counterparts, reflecting the profitability disparity between the two enterprises. Beef cattle operations, in particular, are experiencing record profitability, thanks in part to the smallest cattle inventory since 1951. This stands in sharp contrast to the returns for crop production, which have weakened significantly in 2025. 

Farmer sentiment dipped for the third straight month in August. The Purdue University/CME Group Ag Economy Barometer dropped 10 points to 125. Producers expressed less optimism about the future, as reflected in the Index of Future Expectations, which fell 16 points to 123. That’s the lowest reading for the futures index since last September. Producers’ perspectives on current conditions changed little during the month, with the Current Conditions Index rising two points from July to 129 in August. Sentiment differed greatly among producers according to whether their operations relied mostly on crops or livestock. Crop producers responded to the survey with much less optimism than their livestock counterparts, reflecting the profitability disparity between the two enterprises. Beef cattle operations, in particular, are experiencing record profitability, thanks in part to the smallest cattle inventory since 1951. This stands in sharp contrast to the returns for crop production, which have weakened significantly in 2025. -NAFB

Farmer sentiment falls further in August

The U.S. ag trade deficit hit a record high in the first half of this year. Bloomberg said the value of agricultural exports trailed that of imports by $4.1 billion in June, a gap 14 percent wider than a year earlier. USDA data says that pushed the ag sector’s deficit to a staggering $28.6 billion for the first six months of this year. Reports say the trade deficit is one of the main reasons President Trump gave for imposing tariffs and working on new trade deals. 

Former USDA chief economist Joe Glauber said that the trade imbalance shouldn’t be this alarming because of what’s under the surface. He said it’s important to keep in mind that America imports a lot of commodities it can’t produce domestically. The USDA numbers show that Mexico and Canada will remain the top two U.S. ag export markets, followed by the EU, Japan, and China.

The U.S. ag trade deficit hit a record high in the first half of this year. Bloomberg said the value of agricultural exports trailed that of imports by $4.1 billion in June, a gap 14 percent wider than a year earlier. USDA data says that pushed the ag sector’s deficit to a staggering $28.6 billion for the first six months of this year. Reports say the trade deficit is one of the main reasons President Trump gave for imposing tariffs and working on new trade deals. Former USDA chief economist Joe Glauber said that the trade imbalance shouldn’t be this alarming because of what’s under the surface. He said it’s important to keep in mind that America imports a lot of commodities it can’t produce domestically. The USDA numbers show that Mexico and Canada will remain the top two U.S. ag export markets, followed by the EU, Japan, and China.-NAFB