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

March corn closed up 3 cents and March corn was up 2 1/2 cents. January soybeans closed down 27 1/2 cents and March soybeans were down 27 1/4 cents. March KC wheat closed down 2 3/4 cents, March Chicago wheat was down 19 1/2 cents and March Minneapolis wheat was up 2 1/4 cents.

Row-crop futures were mostly moderately lower to close the week, with little fresh news to break the fall in soybean futures or encourage corn traders to challenge nearby price resistance. In outside markets, energy futures were mixed with higher crude oil and gasoline futures but sluggish diesel prices, which contributed to the pressure on oilseed markets to close the week. Equity markets were higher in quiet trade, with a higher U.S. Dollar Index as well for the third straight session.

Things were heating up in the cattle complex as the live cattle contracts were again pressing up against the market's 100-day moving average. Traders are seeming to hold their breath, patiently waiting to see what's going to develop in the Southern Plains as still no cattle have traded in that region. Bids are on the table in Kansas at $227, which is far below the asking price of $232 to $233, and asking prices in the North are holding steady at $358-plus. There was a light movement of trade in Nebraska at $358 Thursday afternoon, which is $4.00 higher than last week's weighted average. Boxed beef prices are higher: choice up $3.61 ($360.89) and select up $3.57 ($347.54) with a movement of 69 loads (43.73 loads of choice, 8.34 loads of select, 11.09 loads of trim and 6.32 loads of ground beef).

The feeder cattle complex pushed a dynamite rally into Friday's closing bell, as contracts were trading anywhere from $5.00 $6.00 higher. The spot March contract is currently trading above its 100-day moving average, seeming to feel well supported since the live cattle contracts are higher, fed cash cattle prices are stronger this week, and hopeful this afternoon's Cattle on Feed report will be bullish too. Time will tell.

The lean hog complex was back to trading higher as traders seemed to have regained some faith in the market but are also feeling additionally supported by the day's slight uptick in pork cutouts. It's unlikely the market will challenge resistance at $90.00, but a steady tone could be maintained through the early parts of next week.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/19140646/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed down 3/4 cents and May corn was down 3/4 cents. January soybeans closed down 3 cents and March soybeans were down 2 1/2 cents. March KC wheat closed down 1 3/4 cents, March Chicago wheat was up 2 cents, March Minneapolis wheat was up 5 cents.For the Week:March corn closed up 3 cents and March corn was up 2 1/2 cents. January soybeans closed down 27 1/2 cents and March soybeans were down 27 1/4 cents. March KC wheat closed down 2 3/4 cents, March Chicago wheat was down 19 1/2 cents and March Minneapolis wheat was up 2 1/4 cents.Row-crop futures were mostly moderately lower to close the week, with little fresh news to break the fall in soybean futures or encourage corn traders to challenge nearby price resistance. In outside markets, energy futures were mixed with higher crude oil and gasoline futures but sluggish diesel prices, which contributed to the pressure on oilseed markets to close the week. Equity markets were higher in quiet trade, with a higher U.S. Dollar Index as well for the third straight session.LIVESTOCK:Things were heating up in the cattle complex as the live cattle contracts were again pressing up against the market's 100-day moving average. Traders are seeming to hold their breath, patiently waiting to see what's going to develop in the Southern Plains as still no cattle have traded in that region. Bids are on the table in Kansas at $227, which is far below the asking price of $232 to $233, and asking prices in the North are holding steady at $358-plus. There was a light movement of trade in Nebraska at $358 Thursday afternoon, which is $4.00 higher than last week's weighted average. Boxed beef prices are higher: choice up $3.61 ($360.89) and select up $3.57 ($347.54) with a movement of 69 loads (43.73 loads of choice, 8.34 loads of select, 11.09 loads of trim and 6.32 loads of ground beef).The feeder cattle complex pushed a dynamite rally into Friday's closing bell, as contracts were trading anywhere from $5.00 $6.00 higher. The spot March contract is currently trading above its 100-day moving average, seeming to feel well supported since the live cattle contracts are higher, fed cash cattle prices are stronger this week, and hopeful this afternoon's Cattle on Feed report will be bullish too. Time will tell.The lean hog complex was back to trading higher as traders seemed to have regained some faith in the market but are also feeling additionally supported by the day's slight uptick in pork cutouts. It's unlikely the market will challenge resistance at $90.00, but a steady tone could be maintained through the early parts of next week.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/19140646/web-closing-markets.mp3">Click HERE for audio</a>

Commodity markets daily recap

The Energy Information Administration said ethanol output jumped to a new record high in the seven days ending on December 12. U.S. production rose to an average of 1.131 million barrels a day, which the agency said is up from 1.105 million the previous week and eclipsed a record set two weeks earlier. In the Midwest, output rose to an average of 1.078 million barrels a day, up from 1.046 million the prior week. 

That was all the gains for the week. East Coast production was steady at 11,000 barrels a day, on average, for the fourth-straight week. West Coast output held steady at 9,000 barrels a day. Gulf Coast production dropped by 4,000 barrels to an average of 28,000 per day, and Rocky Mountain output dropped by 2,000 barrels a day to 9,000. Inventories during the week fell to 22.353 million barrels.

The Energy Information Administration said ethanol output jumped to a new record high in the seven days ending on December 12. U.S. production rose to an average of 1.131 million barrels a day, which the agency said is up from 1.105 million the previous week and eclipsed a record set two weeks earlier. In the Midwest, output rose to an average of 1.078 million barrels a day, up from 1.046 million the prior week. That was all the gains for the week. East Coast production was steady at 11,000 barrels a day, on average, for the fourth-straight week. West Coast output held steady at 9,000 barrels a day. Gulf Coast production dropped by 4,000 barrels to an average of 28,000 per day, and Rocky Mountain output dropped by 2,000 barrels a day to 9,000. Inventories during the week fell to 22.353 million barrels.-NAFB

Ethanol production hits another record high

China has secured at least seven million tons of U.S. soybeans after multiple purchases during the past two weeks. Bloomberg said that puts the Asian country over halfway to meeting the 12-million-ton purchase agreement it made with the Trump administration. People familiar with the deals say the total comes from purchases by Sinograin, the state company in charge of managing China’s strategic grain stockpiles. 

The company purchased about two million tons in the last week alone, with buys continuing into this week. Bloomberg reports that at least seven soybean cargoes were purchased, totaling over 400,000 tons. Officially, the USDA has reported under four million tons of soybeans sold to China, but industry insiders say the total is likely much higher. Unfortunately, prices will likely stay under pressure, even though U.S. sellers and Chinese buyers expect the target to be met. It’s unknown exactly when the beans will ship.  

China has secured at least seven million tons of U.S. soybeans after multiple purchases during the past two weeks. Bloomberg said that puts the Asian country over halfway to meeting the 12-million-ton purchase agreement it made with the Trump administration. People familiar with the deals say the total comes from purchases by Sinograin, the state company in charge of managing China’s strategic grain stockpiles. The company purchased about two million tons in the last week alone, with buys continuing into this week. Bloomberg reports that at least seven soybean cargoes were purchased, totaling over 400,000 tons. Officially, the USDA has reported under four million tons of soybeans sold to China, but industry insiders say the total is likely much higher. Unfortunately, prices will likely stay under pressure, even though U.S. sellers and Chinese buyers expect the target to be met. It’s unknown exactly when the beans will ship. -NAFB

China halfway to soybean purchase commitment

March corn closed up 4 cents and May corn was up 4 1/2 cents. January soybeans closed down 6 cents and March soybeans were down 6 3/4 cents. March KC wheat closed up 9 1/4 cents, March Chicago wheat was up 1 1/2 cents, March Minneapolis wheat was up 11 cents.

The corn market extended its recovery to two days on Thursday, reclaiming lost technical ground in the process on rumors that China may have bought some U.S. corn off the PNW this week. Meanwhile, the soybean complex was again lower with the exception of meal futures. Wheat futures led the charge higher on Thursday, attracting bargain buying as futures had approached and, in some cases set, new 2025 and contract lows across markets earlier this week. In macroeconomic news, the November Consumer Price Index reading of 2.7% annual inflation was firmly and surprisingly lower than the 3% reading in September. Market reaction to the news was mixed with slightly higher Treasuries but yield futures flat to only a touch lower as some economists had offered a word of warning that the data collection during the government shutdown may have resulted in a skewed inflation measure this month.

The live cattle complex was again trading lower, as though some light cash cattle trade has been reported at higher prices again this week, traders still don't believe they possess enough well-rounded support to successfully conquer the market's 100-day moving average. This left the complex only one way to go, which was lower. Even though packers bought the largest weekly trade volume of 2024 and 2025 last week at just over 103,000 head, fed cash cattle prices are trending a tick higher again this morning as packers are still in need of more cattle. Some light trade has been reported in the North by a regional packer at $358, which is $4.00 higher than last week's weighted average. A few more bids are on the table in parts of Kansas, but no Southern trade has developed yet. Asking prices remain firm in the South at $232 to $233, and in the North at $360 plus. Boxed beef prices are mixed: choice up $0.95 ($357.04) and select down $2.38 ($344.05) with a movement of 46 loads ($31.77 loads of choice, 6.76 loads of select, zero loads of trim and 7.52 loads of ground beef).

Continuing to follow the direction of the live cattle complex, the feeder cattle contracts traded lower into Thursday's closing bell. Although the market continues to see adequate fundamental support, it's likely the complex could keep with this steady/somewhat lower trend as traders don't believe this is the best time to advance the complex over a major resistance threshold with the Christmas holiday just days ahead.

The lean hog complex was traded mostly higher as traders are to see pork cutout values up over $2.00 higher. And with Wednesday's lower technical close, the market is no longer up against immediate resistance pressure.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/18135625/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed up 4 cents and May corn was up 4 1/2 cents. January soybeans closed down 6 cents and March soybeans were down 6 3/4 cents. March KC wheat closed up 9 1/4 cents, March Chicago wheat was up 1 1/2 cents, March Minneapolis wheat was up 11 cents.The corn market extended its recovery to two days on Thursday, reclaiming lost technical ground in the process on rumors that China may have bought some U.S. corn off the PNW this week. Meanwhile, the soybean complex was again lower with the exception of meal futures. Wheat futures led the charge higher on Thursday, attracting bargain buying as futures had approached and, in some cases set, new 2025 and contract lows across markets earlier this week. In macroeconomic news, the November Consumer Price Index reading of 2.7% annual inflation was firmly and surprisingly lower than the 3% reading in September. Market reaction to the news was mixed with slightly higher Treasuries but yield futures flat to only a touch lower as some economists had offered a word of warning that the data collection during the government shutdown may have resulted in a skewed inflation measure this month.LIVESTOCK:The live cattle complex was again trading lower, as though some light cash cattle trade has been reported at higher prices again this week, traders still don't believe they possess enough well-rounded support to successfully conquer the market's 100-day moving average. This left the complex only one way to go, which was lower. Even though packers bought the largest weekly trade volume of 2024 and 2025 last week at just over 103,000 head, fed cash cattle prices are trending a tick higher again this morning as packers are still in need of more cattle. Some light trade has been reported in the North by a regional packer at $358, which is $4.00 higher than last week's weighted average. A few more bids are on the table in parts of Kansas, but no Southern trade has developed yet. Asking prices remain firm in the South at $232 to $233, and in the North at $360 plus. Boxed beef prices are mixed: choice up $0.95 ($357.04) and select down $2.38 ($344.05) with a movement of 46 loads ($31.77 loads of choice, 6.76 loads of select, zero loads of trim and 7.52 loads of ground beef).Continuing to follow the direction of the live cattle complex, the feeder cattle contracts traded lower into Thursday's closing bell. Although the market continues to see adequate fundamental support, it's likely the complex could keep with this steady/somewhat lower trend as traders don't believe this is the best time to advance the complex over a major resistance threshold with the Christmas holiday just days ahead.The lean hog complex was traded mostly higher as traders are to see pork cutout values up over $2.00 higher. And with Wednesday's lower technical close, the market is no longer up against immediate resistance pressure. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/18135625/web-closing-markets.mp3">Click HERE for audio</a>

The U.S. isn’t the only country seeing a decline in ag equipment purchases. Brazil saw a double-digit percentage drop in tractor sales in November. That’s according to data from the Association of Equipment Manufacturers. Total tractor shipments in the country were down five percent on an annual basis last month. Sales of high-horsepower and low-horsepower tractors were down 15 percent year over year in November, which followed another ten percent decline in October. 

High-horsepower tractor sales in Brazil plunged 28 percent in November and are down 15 percent year to date, according to a report from Truist Securities. Deere said it expects flat year-over-year tractor and combine sales in South America, AGCO said it expects modest growth in South America in 2026, and CNH said industry volumes will be flat. “Demand remains uncertain, due in part to the U.S.-China trade agreement, high interest rates, and strong crop yields,” Truist added.

The U.S. isn’t the only country seeing a decline in ag equipment purchases. Brazil saw a double-digit percentage drop in tractor sales in November. That’s according to data from the Association of Equipment Manufacturers. Total tractor shipments in the country were down five percent on an annual basis last month. Sales of high-horsepower and low-horsepower tractors were down 15 percent year over year in November, which followed another ten percent decline in October. High-horsepower tractor sales in Brazil plunged 28 percent in November and are down 15 percent year to date, according to a report from Truist Securities. Deere said it expects flat year-over-year tractor and combine sales in South America, AGCO said it expects modest growth in South America in 2026, and CNH said industry volumes will be flat. “Demand remains uncertain, due in part to the U.S.-China trade agreement, high interest rates, and strong crop yields,” Truist added.-NAFB

Ag equipment sales are also falling outside the U.S. 

The National Corn Growers Association announced the winners of the 2025 Yield Contest. With growing conditions that led to a projected record corn crop, this year’s participants delivered impressive yields, once again showcasing the ingenuity of U.S. agriculture. In the 61st year of the contest, it saw almost 7,800 entries from farmers in 47 states. Entrants across the ten production categories had verified yields averaging 269 bushels an acre. 

The highest yield for this year came out of Charles City, Virginia, at 572.25 bushels per acre in Class H (strip-till irrigated) for David Hula. “The Yield Contest is really about finding out what this crop is capable of,” said NCGA President Jed Bower. ‘’And as corn farmers, we get to show what we’re made of too.”Winners will be honored at the 2026 Commodity Classic in San Antonio, Texas, February 25–27.&nbsp; A complete list of the winners can be found at <a href="https://ncga.com/get-involved/yield-contest">ncga.com/YieldContest</a>.

The National Corn Growers Association announced the winners of the 2025 Yield Contest. With growing conditions that led to a projected record corn crop, this year’s participants delivered impressive yields, once again showcasing the ingenuity of U.S. agriculture. In the 61st year of the contest, it saw almost 7,800 entries from farmers in 47 states. Entrants across the ten production categories had verified yields averaging 269 bushels an acre. The highest yield for this year came out of Charles City, Virginia, at 572.25 bushels per acre in Class H (strip-till irrigated) for David Hula. “The Yield Contest is really about finding out what this crop is capable of,” said NCGA President Jed Bower. ‘’And as corn farmers, we get to show what we’re made of too.”Winners will be honored at the 2026 Commodity Classic in San Antonio, Texas, February 25–27.&nbsp; A complete list of the winners can be found at <a href="https://ncga.com/get-involved/yield-contest">ncga.com/YieldContest</a>.-NAFB

NCGA announces yield contest winners

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

It was another mixed to bearish session for U.S. row crops on Wednesday as South American weather bears continue to lead liquidation efforts in the soybean complex, although prices ultimately found interested buyers over the last couple of hours of trade and are oversold from a technical viewpoint. Meanwhile, corn futures found support when March prices fell below the 100-day moving average on Tuesday, rebounding to recapture those losses Wednesday. Wheat markets in the meanwhile fell to new lows in Chicago and Minneapolis. Energy markets turned higher from early 2021 lows set on Tuesday, going largely ignored in the ag sector other than positive influence on corn futures, especially following a mostly positive weekly ethanol report from the Energy Information Administration (EIA). Equities were again weaker on Wednesday as well on profit-taking following last week's surge to a new record for the Dow Jones Industrial Average.

After rallying throughout Tuesday's trade, the live cattle complex has again settled to trade lower as the resistance at the market's 100-day moving average simply remains too stiff of a barrier to challenge at this point. Are you seeing the trend in the market right now? One day the market rallies and trades higher, but then on the next day, it steps lower as traders don't believe that either they possess enough support or that it's the right time to challenge the market's resistance. Either way, the complex is trading merely steady, holding a position just below the 100-day moving average. No cash cattle trade has developed yet. Boxed beef prices are lower: choice down $1.96 ($356.92) and select down $0.26 ($348.84) with a movement of 91 loads (72.72 loads of choice, 7.09 loads of select, zero loads of trim and 11.61 loads of ground beef).

After closing above the market's resistance at its 100-day moving average, the feeder cattle complex is tradeda tick lower into Wednesday's close. The market still remains above that threshold, which is significant. With the live cattle contracts trading lower, it was not surprising to see the feeder cattle contracts dip back below the market's resistance at its 100-day moving average.

The lean hog complex got back to trading lower as the market remains nervous to trade any higher following the substantial gains made last week. Given that the market is just days away from Christmas, it's likely that a slower, lower trend could develop in the lean hog complex.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/17140429/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed up 4 cents and May corn was up 3 1/4 cents. January soybeans closed down 4 1/2 cents and March soybeans were down 3 cents. March KC wheat closed up 2 3/4 cents, March Chicago wheat was down 3 1/4 cents, March Minneapolis wheat was down 3 cents.It was another mixed to bearish session for U.S. row crops on Wednesday as South American weather bears continue to lead liquidation efforts in the soybean complex, although prices ultimately found interested buyers over the last couple of hours of trade and are oversold from a technical viewpoint. Meanwhile, corn futures found support when March prices fell below the 100-day moving average on Tuesday, rebounding to recapture those losses Wednesday. Wheat markets in the meanwhile fell to new lows in Chicago and Minneapolis. Energy markets turned higher from early 2021 lows set on Tuesday, going largely ignored in the ag sector other than positive influence on corn futures, especially following a mostly positive weekly ethanol report from the Energy Information Administration (EIA). Equities were again weaker on Wednesday as well on profit-taking following last week's surge to a new record for the Dow Jones Industrial Average.LIVESTOCK:After rallying throughout Tuesday's trade, the live cattle complex has again settled to trade lower as the resistance at the market's 100-day moving average simply remains too stiff of a barrier to challenge at this point. Are you seeing the trend in the market right now? One day the market rallies and trades higher, but then on the next day, it steps lower as traders don't believe that either they possess enough support or that it's the right time to challenge the market's resistance. Either way, the complex is trading merely steady, holding a position just below the 100-day moving average. No cash cattle trade has developed yet. Boxed beef prices are lower: choice down $1.96 ($356.92) and select down $0.26 ($348.84) with a movement of 91 loads (72.72 loads of choice, 7.09 loads of select, zero loads of trim and 11.61 loads of ground beef).After closing above the market's resistance at its 100-day moving average, the feeder cattle complex is tradeda tick lower into Wednesday's close. The market still remains above that threshold, which is significant. With the live cattle contracts trading lower, it was not surprising to see the feeder cattle contracts dip back below the market's resistance at its 100-day moving average.The lean hog complex got back to trading lower as the market remains nervous to trade any higher following the substantial gains made last week. Given that the market is just days away from Christmas, it's likely that a slower, lower trend could develop in the lean hog complex.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/17140429/web-closing-markets.mp3">Click HERE for audio</a>

The House of Representatives overwhelmingly passed the Whole Milk for Healthy Kids Act of 2025. The legislation provides schools with the flexibility to offer flavored and unflavored whole and 2% milk options, helping to make sure children get the nutrition they need to grow, thrive, and succeed in the classroom. “I’ve worked for a decade to restore whole milk to our school cafeterias, which have been limiting healthy choices for students, but that changes today,” said bill author GT Thompson of Pennsylvania.

 “Whole milk is an essential building block for a well-rounded and balanced diet, and students should have the option to choose the milk they love.” Gregg Doud, president and CEO of the National Milk Producers Federation, said, “By restoring schools’ ability to serve whole and reduced-fat milk, dairy farmers and their cooperatives can further expand their positive impact in school lunchrooms and provide more nutritious outcomes for the next generation.”  

The House of Representatives overwhelmingly passed the Whole Milk for Healthy Kids Act of 2025. The legislation provides schools with the flexibility to offer flavored and unflavored whole and 2% milk options, helping to make sure children get the nutrition they need to grow, thrive, and succeed in the classroom. “I’ve worked for a decade to restore whole milk to our school cafeterias, which have been limiting healthy choices for students, but that changes today,” said bill author GT Thompson of Pennsylvania. “Whole milk is an essential building block for a well-rounded and balanced diet, and students should have the option to choose the milk they love.” Gregg Doud, president and CEO of the National Milk Producers Federation, said, “By restoring schools’ ability to serve whole and reduced-fat milk, dairy farmers and their cooperatives can further expand their positive impact in school lunchrooms and provide more nutritious outcomes for the next generation.” -NAFB

Whole Milk for Healthy Kids Act awaits presidential signature 

Green Plains Inc. has reached a major operational milestone at its three Nebraska ethanol plants. The company confirmed that biogenic carbon from all three locations is now being captured and permanently stored. The captured emissions are transported by the Trailblazer pipeline and are taken to southeastern Wyoming and injected at Tallgrass’s carbon storage hub, completing an end-to-end carbon capture and sequestration chain. 

The company says this achievement marks an important step for both the company's operations and the broader Nebraska bioeconomy, positioning low-carbon ethanol more competitively in regulated fuel markets. With the capture infrastructure now fully operational, Green Plains plans to advance a broader decarbonization strategy while targeting long-term performance gains. Management views carbon capture as a core lever for future growth in an increasingly carbon-constrained fuel market.

Green Plains Inc. has reached a major operational milestone at its three Nebraska ethanol plants. The company confirmed that biogenic carbon from all three locations is now being captured and permanently stored. The captured emissions are transported by the Trailblazer pipeline and are taken to southeastern Wyoming and injected at Tallgrass’s carbon storage hub, completing an end-to-end carbon capture and sequestration chain. The company says this achievement marks an important step for both the company's operations and the broader Nebraska bioeconomy, positioning low-carbon ethanol more competitively in regulated fuel markets. With the capture infrastructure now fully operational, Green Plains plans to advance a broader decarbonization strategy while targeting long-term performance gains. Management views carbon capture as a core lever for future growth in an increasingly carbon-constrained fuel market.-NAFB

Nebraska ethanol plants reach carbon milestone

March corn closed down 3 1/4 cents and May corn was down 3 1/4 cents. January soybeans closed down 9 cents and March soybeans were down 9 1/2 cents. March KC wheat closed down 7 cents, March Chicago wheat was down 11 1/4 cents, March Minneapolis wheat was down 3 3/4 cents.

Row-crop prices continued to deteriorate from November highs on Tuesday. January soybeans have now given back roughly 70% of market gains from the Sept. 30 low close to the Nov. 17 high close, a frustrating turn of events as bearish traders focus on widespread South American rainfall and begin to bank on another record soybean crop in Brazil for 2026 and the potential for record corn production in Argentina as well. Outside markets for Tuesday leaned negative in regard to influence on ag futures, with crude oil prices sliding yet again and officially setting new lows for 2025 amid high world production and lower perceived geopolitical risk as Russia, Ukraine, and world leaders work toward a peace solution in the Black Sea. Equity markets were also lower on a higher-than-expected unemployment reading for November in Tuesday's report.

The live cattle complex trading softly higher into Tuesday's closing bell as the market is pleased with the continued support of strong beef demand. The market's 100-day moving average remains a stiff resistance threshold for the market and even with the support from higher boxed beef prices, traders don't firmly believe that they have enough support to currently trade above that threshold. No cash cattle trade has developed yet, but asking prices are noted in the South at $233 plus but still remain elusive in the North. Boxed beef prices are higher: choice up $0.78 ($360.24) and select up $1.73 ($349.03) with a movement of 48 loads (33.79 loads of choice, 8.30 loads of select, zero loads of trim and 5.98 loads of ground beef).

The feeder cattle complex was off to a bold start this morning as the market is currently trading above its 100-day moving average in most of the nearby contracts. Fueled by strong buyer demand in the countryside and by the continued support of traders, the market is tiptoeing into territory that hasn't been traded at since late October.

And even with midday pork cutout values a tick lower, the lean hog complex continued to trade higher as traders remain committed to supporting the lean hog market. The market could soften later this week if fundamental support doesn't arise.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/16142313/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed down 3 1/4 cents and May corn was down 3 1/4 cents. January soybeans closed down 9 cents and March soybeans were down 9 1/2 cents. March KC wheat closed down 7 cents, March Chicago wheat was down 11 1/4 cents, March Minneapolis wheat was down 3 3/4 cents.Row-crop prices continued to deteriorate from November highs on Tuesday. January soybeans have now given back roughly 70% of market gains from the Sept. 30 low close to the Nov. 17 high close, a frustrating turn of events as bearish traders focus on widespread South American rainfall and begin to bank on another record soybean crop in Brazil for 2026 and the potential for record corn production in Argentina as well. Outside markets for Tuesday leaned negative in regard to influence on ag futures, with crude oil prices sliding yet again and officially setting new lows for 2025 amid high world production and lower perceived geopolitical risk as Russia, Ukraine, and world leaders work toward a peace solution in the Black Sea. Equity markets were also lower on a higher-than-expected unemployment reading for November in Tuesday's report.LIVESTOCK:The live cattle complex trading softly higher into Tuesday's closing bell as the market is pleased with the continued support of strong beef demand. The market's 100-day moving average remains a stiff resistance threshold for the market and even with the support from higher boxed beef prices, traders don't firmly believe that they have enough support to currently trade above that threshold. No cash cattle trade has developed yet, but asking prices are noted in the South at $233 plus but still remain elusive in the North. Boxed beef prices are higher: choice up $0.78 ($360.24) and select up $1.73 ($349.03) with a movement of 48 loads (33.79 loads of choice, 8.30 loads of select, zero loads of trim and 5.98 loads of ground beef).The feeder cattle complex was off to a bold start this morning as the market is currently trading above its 100-day moving average in most of the nearby contracts. Fueled by strong buyer demand in the countryside and by the continued support of traders, the market is tiptoeing into territory that hasn't been traded at since late October. And even with midday pork cutout values a tick lower, the lean hog complex continued to trade higher as traders remain committed to supporting the lean hog market. The market could soften later this week if fundamental support doesn't arise.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/16142313/web-closing-markets.mp3">Click HERE for audio</a>

According to the Association of Equipment Manufacturers, the total sales of agricultural tractors in the U.S. dropped almost 20 percent, while combine sales fell 35 percent compared to November 2024. Canadian sales of combines increased 25 percent in November compared to the same time last year, while sales of agricultural tractors dropped seven percent in the same time frame. 

“This month’s numbers reflect the continued economic pressure farmers have been navigating for several months,” said Association of Equipment Manufacturers Senior Vice President Curt Blades. “While we’re seeing a short-term slowdown in sales, equipment manufacturers remain focused on supporting farmers with the tools and technologies that deliver efficiency and long-term value.” He also said as the agricultural economy moves into 2026, AEM will continue watching market conditions closely and remains confident in the industry’s underlying strength. 

According to the Association of Equipment Manufacturers, the total sales of agricultural tractors in the U.S. dropped almost 20 percent, while combine sales fell 35 percent compared to November 2024. Canadian sales of combines increased 25 percent in November compared to the same time last year, while sales of agricultural tractors dropped seven percent in the same time frame. “This month’s numbers reflect the continued economic pressure farmers have been navigating for several months,” said Association of Equipment Manufacturers Senior Vice President Curt Blades. “While we’re seeing a short-term slowdown in sales, equipment manufacturers remain focused on supporting farmers with the tools and technologies that deliver efficiency and long-term value.” He also said as the agricultural economy moves into 2026, AEM will continue watching market conditions closely and remains confident in the industry’s underlying strength. -NAFB

Tractor and combine sales drop in November

The Trump administration isn’t likely to finalize the 2026 biofuel-blending quotas before the end of 2025. Three sources close to the situation told Reuters that this will only extend uncertainty over a policy closely watched by rival oil and farm sectors. The Environmental Protection Agency has scheduled meetings with industry stakeholders on the quota rule in early 2026, which is a sign the final rule won’t be announced until next year. 

The EPA declined to give a specific timeframe on when a final rule could be reached, noting that it’s still reviewing public comments on the volume requirements. A delay in finalizing the mandate is troublesome because fuel makers, farmers, and commodity traders use them to lock in supply contracts, hedge the volatile crop and energy markets, and justify investments in new production capacity. Earlier this year, the EPA proposed raising total renewable fuel requirements for 2026 and 2027.

The Trump administration isn’t likely to finalize the 2026 biofuel-blending quotas before the end of 2025. Three sources close to the situation told Reuters that this will only extend uncertainty over a policy closely watched by rival oil and farm sectors. The Environmental Protection Agency has scheduled meetings with industry stakeholders on the quota rule in early 2026, which is a sign the final rule won’t be announced until next year. The EPA declined to give a specific timeframe on when a final rule could be reached, noting that it’s still reviewing public comments on the volume requirements. A delay in finalizing the mandate is troublesome because fuel makers, farmers, and commodity traders use them to lock in supply contracts, hedge the volatile crop and energy markets, and justify investments in new production capacity. Earlier this year, the EPA proposed raising total renewable fuel requirements for 2026 and 2027.-NAFB

2026 biofuel quotas likely not coming this year

March corn closed down 1 cent and May corn was down 1 1/4 cents. January soybeans closed down 5 cents and March soybeans were down 5 1/2 cents. March KC wheat closed down 6 cents, March Chicago wheat was down 8 1/2 cents, March MIAX Minneapolis wheat was down 7 cents.

Corn, soybean, and wheat futures fell again to begin the new week as rainfall in South America through the first half of December has given way to refreshed bearish supply concerns. Meanwhile, from a technical standpoint, if prices are to continue selling off through the week and month, long standing chart support levels will be tested.&nbsp;

The livestock complex was trading mixed into Monday's noon hour as traders sat tight, waiting to see what fundamental support arises this week. But unless something powerful happens in the cattle complex, it's unlikely that trades are going to trade the market above its 100-day moving average any time soon.

Cattle finished the day i the green. Live Cattle was once again, backed up against the market's 100-day moving average, the live cattle complex was on pins and needles as it desired to trade higher, but traders weren't confident that the market possessed enough support to conquer its 100-day moving average.&nbsp;The feeder cattle complex was much the same attitude and followed the live cattle into the green at the end of the day

Although pork cutout values were higher this morning, the lean hog complex was trailing lower into Monday's noon hour as traders seem to be cautious to advance the market much more, given that late last week the complex rallied aggressively. Pork ended the day in the red.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/08204004/30001.mp3">Click HERE for Audio</a>

Grains:March corn closed down 1 cent and May corn was down 1 1/4 cents. January soybeans closed down 5 cents and March soybeans were down 5 1/2 cents. March KC wheat closed down 6 cents, March Chicago wheat was down 8 1/2 cents, March MIAX Minneapolis wheat was down 7 cents.Corn, soybean, and wheat futures fell again to begin the new week as rainfall in South America through the first half of December has given way to refreshed bearish supply concerns. Meanwhile, from a technical standpoint, if prices are to continue selling off through the week and month, long standing chart support levels will be tested.&nbsp;Livestock:The livestock complex was trading mixed into Monday's noon hour as traders sat tight, waiting to see what fundamental support arises this week. But unless something powerful happens in the cattle complex, it's unlikely that trades are going to trade the market above its 100-day moving average any time soon.Cattle finished the day i the green. Live Cattle was once again, backed up against the market's 100-day moving average, the live cattle complex was on pins and needles as it desired to trade higher, but traders weren't confident that the market possessed enough support to conquer its 100-day moving average.&nbsp;The feeder cattle complex was much the same attitude and followed the live cattle into the green at the end of the dayAlthough pork cutout values were higher this morning, the lean hog complex was trailing lower into Monday's noon hour as traders seem to be cautious to advance the market much more, given that late last week the complex rallied aggressively. Pork ended the day in the red.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/08204004/30001.mp3">Click HERE for Audio</a>

A USDA report says exports of corn continued their torrid pace while soybean shipments remained well behind 2024 year-end totals during the week ending on November 13. The report contains the latest export sales data as USDA continues playing catchup after the government shutdown that ended a month ago. 

Corn exports from the start of the marketing year through mid-November totaled 16.23 million metric tons, which the agency says is up 74 percent year over year. Commitments from overseas buyers to purchase U.S. corn were up 30 percent annually to 40.72 million metric tons. Soybean exports plunged 41 percent to 10.048 million metric tons. USDA said promises to purchase U.S. soybeans were reported at 18.043 million metric tons, also down 41 percent year over year. Wheat exports from the start of the marketing year totaled 12.196 million metric tons, up 23 percent annually.

A USDA report says exports of corn continued their torrid pace while soybean shipments remained well behind 2024 year-end totals during the week ending on November 13. The report contains the latest export sales data as USDA continues playing catchup after the government shutdown that ended a month ago. Corn exports from the start of the marketing year through mid-November totaled 16.23 million metric tons, which the agency says is up 74 percent year over year. Commitments from overseas buyers to purchase U.S. corn were up 30 percent annually to 40.72 million metric tons. Soybean exports plunged 41 percent to 10.048 million metric tons. USDA said promises to purchase U.S. soybeans were reported at 18.043 million metric tons, also down 41 percent year over year. Wheat exports from the start of the marketing year totaled 12.196 million metric tons, up 23 percent annually.-NAFB

U.S. Corn Exports Well Above Last Year’s Pace

The Fertilizer Institute praised the House of Representatives for passing HR 3898, the Promoting Efficient Review for Modern Infrastructure Today (PERMIT) Act. It’s legislation designed to bring clarity, consistency, and predictability to the federal Clean Water Act permitting process. 

“Permitting reform is essential to strengthening America’s fertilizer supply chain,” said TFI President and CEO Corey Rosenbusch. “For new phosphate and potash mining projects to nitrogen production and modern distribution facilities, today’s permitting process is too often defined by years’-long delays and significant uncertainty.” He added that the PERMIT Act provides the guardrails needed to keep critical projects moving while maintaining protections for water quality and natural resources. 

TFI members routinely face permitting delays for new and expanded fertilizer production operations that stretch into decades and cost tens of millions of dollars. The delay impacts the farmers who rely on a stable, affordable, and abundant supply of fertilizer.

The Fertilizer Institute praised the House of Representatives for passing HR 3898, the Promoting Efficient Review for Modern Infrastructure Today (PERMIT) Act. It’s legislation designed to bring clarity, consistency, and predictability to the federal Clean Water Act permitting process. “Permitting reform is essential to strengthening America’s fertilizer supply chain,” said TFI President and CEO Corey Rosenbusch. “For new phosphate and potash mining projects to nitrogen production and modern distribution facilities, today’s permitting process is too often defined by years’-long delays and significant uncertainty.” He added that the PERMIT Act provides the guardrails needed to keep critical projects moving while maintaining protections for water quality and natural resources. TFI members routinely face permitting delays for new and expanded fertilizer production operations that stretch into decades and cost tens of millions of dollars. The delay impacts the farmers who rely on a stable, affordable, and abundant supply of fertilizer.-NAFB

TFI Applauds House Passing the PERMIT Act

March corn closed down 5 3/4 cents and May corn was down 5 1/4 cents. January soybeans closed down 16 3/4 cents and March soybeans were down 16 cents. March KC wheat closed down 4 1/4 cents, March Chicago wheat was down 4 1/4 cents, March Minneapolis wheat was down 1/2 cents.

March corn closed down 4 cents and March corn was down 3 1/4 cents. January soybeans closed down 28 1/2 cents and March soybeans were down 29 1/4 cents. March KC wheat closed down 13 1/4 cents, March Chicago wheat was down 6 1/2 cents and March Minneapolis wheat was up 2 3/4 cents.

The mostly bearish price action in row-crop futures on Friday was not unique just to agricultural products, with heavy selling seen across macroeconomic markets as well from equities to energies. In row crops, soybeans again led the way lower as bears remain in full control of momentum currently; although the market is becoming a touch oversold from a technical standpoint. Corn and wheat markets were lower as well with corn lower on the soybean weakness and wheat markets initially holding stubbornly to short gains were ultimately unable to trade against the overarching bearish tone to close the week. Looking at outside markets, essentially the only major indicator which was higher for Friday was the U.S. Dollar Index, snapping a streak of two lower days primarily due to higher Treasury yields.

Following Thursday's rally, the live cattle complex once again traded lower as the market still doesn't believe it possesses enough support to challenge the market's resistance at its 100-day moving average. One could argue that the rally this week in the fed cash cattle market should be enough support to help traders make that move, but from a technical standpoint, traders still aren't confident about that leap. If traders were to challenge the resistance at the 100-day moving average, they'd need to believe that there's enough support in the marketplace to not only conquer that threshold, but also sustain a position above that mark as a move over the 100-day moving average would signal continued support, which is likely what traders are struggling with most at this point given that they obviously see that the market holds ample fundamental support this week, but don't know what's in store for the upcoming holiday weeks. So far this week Northern dressed cattle have traded at mostly $353 to $355, which is $10.00 to $12.00 higher than last week's weighted average, and Southern live cattle have traded at mostly $230, which is $6.00 higher than last week's weighted average. Boxed beef prices are mixed: choice down $0.85 ($357.26) and select up $1.32 ($344.87) with a movement of 89 loads (61.32 loads of choice, 8.07 loads of select, 15.07 loads of trim and 4.20 loads of ground beef).

The feeder cattle complex doesn't seem to believe it has enough support either to sustain its position above the market's 100-day moving average, and it's currently trading below that threshold. Today's slight regression doesn't likely mean that traders believe the market needs to again trade vastly lower, but rather that they potentially jumped the gun on challenging the resistance at the market's 100-day moving average.

While the cattle contracts were trading mostly lower, the lean hog complex fought to keep its upward momentum. Today's support mostly came from traders' willingness to continue to advance the complex as pork cash prices and pork cutout values were lower.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/12140312/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed down 5 3/4 cents and May corn was down 5 1/4 cents. January soybeans closed down 16 3/4 cents and March soybeans were down 16 cents. March KC wheat closed down 4 1/4 cents, March Chicago wheat was down 4 1/4 cents, March Minneapolis wheat was down 1/2 cents.For the Week:March corn closed down 4 cents and March corn was down 3 1/4 cents. January soybeans closed down 28 1/2 cents and March soybeans were down 29 1/4 cents. March KC wheat closed down 13 1/4 cents, March Chicago wheat was down 6 1/2 cents and March Minneapolis wheat was up 2 3/4 cents.The mostly bearish price action in row-crop futures on Friday was not unique just to agricultural products, with heavy selling seen across macroeconomic markets as well from equities to energies. In row crops, soybeans again led the way lower as bears remain in full control of momentum currently; although the market is becoming a touch oversold from a technical standpoint. Corn and wheat markets were lower as well with corn lower on the soybean weakness and wheat markets initially holding stubbornly to short gains were ultimately unable to trade against the overarching bearish tone to close the week. Looking at outside markets, essentially the only major indicator which was higher for Friday was the U.S. Dollar Index, snapping a streak of two lower days primarily due to higher Treasury yields.LIVESTOCK:Following Thursday's rally, the live cattle complex once again traded lower as the market still doesn't believe it possesses enough support to challenge the market's resistance at its 100-day moving average. One could argue that the rally this week in the fed cash cattle market should be enough support to help traders make that move, but from a technical standpoint, traders still aren't confident about that leap. If traders were to challenge the resistance at the 100-day moving average, they'd need to believe that there's enough support in the marketplace to not only conquer that threshold, but also sustain a position above that mark as a move over the 100-day moving average would signal continued support, which is likely what traders are struggling with most at this point given that they obviously see that the market holds ample fundamental support this week, but don't know what's in store for the upcoming holiday weeks. So far this week Northern dressed cattle have traded at mostly $353 to $355, which is $10.00 to $12.00 higher than last week's weighted average, and Southern live cattle have traded at mostly $230, which is $6.00 higher than last week's weighted average. Boxed beef prices are mixed: choice down $0.85 ($357.26) and select up $1.32 ($344.87) with a movement of 89 loads (61.32 loads of choice, 8.07 loads of select, 15.07 loads of trim and 4.20 loads of ground beef).The feeder cattle complex doesn't seem to believe it has enough support either to sustain its position above the market's 100-day moving average, and it's currently trading below that threshold. Today's slight regression doesn't likely mean that traders believe the market needs to again trade vastly lower, but rather that they potentially jumped the gun on challenging the resistance at the market's 100-day moving average.While the cattle contracts were trading mostly lower, the lean hog complex fought to keep its upward momentum. Today's support mostly came from traders' willingness to continue to advance the complex as pork cash prices and pork cutout values were lower.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/12140312/web-closing-markets.mp3">Click HERE for audio</a>

A bipartisan group of 23 senators called on the U.S. Department of Agriculture to expedite development of a comprehensive bird flu vaccination strategy amid rising infections in livestock flocks. Lawmakers warn that outbreaks of highly pathogenic avian influenza, or HPAI, have killed millions of birds nationwide, threatening poultry producers already coping with supply chain pressures and volatile markets. 

While USDA announced plans earlier in the year to pursue a vaccine, senators say the lack of a clear timeline and implementation framework has left farmers without a dependable tool to protect flocks. The group emphasized that any vaccination approach should be grounded in scientific research and include input from producers, veterinarians and trade stakeholders. They also highlighted concerns about how vaccination policies could affect international trade if foreign partners remain wary of U.S. poultry exports. USDA has pledged research funding but has not yet released detailed operational plans. 

A bipartisan group of 23 senators called on the U.S. Department of Agriculture to expedite development of a comprehensive bird flu vaccination strategy amid rising infections in livestock flocks. Lawmakers warn that outbreaks of highly pathogenic avian influenza, or HPAI, have killed millions of birds nationwide, threatening poultry producers already coping with supply chain pressures and volatile markets. While USDA announced plans earlier in the year to pursue a vaccine, senators say the lack of a clear timeline and implementation framework has left farmers without a dependable tool to protect flocks. The group emphasized that any vaccination approach should be grounded in scientific research and include input from producers, veterinarians and trade stakeholders. They also highlighted concerns about how vaccination policies could affect international trade if foreign partners remain wary of U.S. poultry exports. USDA has pledged research funding but has not yet released detailed operational plans. -NAFB

Senators push USDA for faster bird flu vaccine plan

American farmers reacted to the federal government’s newly announced $12 billion aid package with cautious relief, saying the funds may help some producers but won’t offset major financial strains facing the industry. The payments, which are part of a one-time bridge program aimed at helping farmers manage high input costs and market disruptions, are designed to provide temporary relief as producers prepare for the upcoming planting season. 

However, growers and agricultural economists argue the amount will not fully cover losses tied to depressed commodity prices, reduced export demand and elevated expenses for fuel, fertilizer and labor. Some producers said while the support offers needed breathing room, it does not address ongoing structural challenges, including trade barriers that have limited market access for major crops. Farm leaders continue to urge policymakers to pursue long-term market solutions alongside emergency support. 

American farmers reacted to the federal government’s newly announced $12 billion aid package with cautious relief, saying the funds may help some producers but won’t offset major financial strains facing the industry. The payments, which are part of a one-time bridge program aimed at helping farmers manage high input costs and market disruptions, are designed to provide temporary relief as producers prepare for the upcoming planting season. However, growers and agricultural economists argue the amount will not fully cover losses tied to depressed commodity prices, reduced export demand and elevated expenses for fuel, fertilizer and labor. Some producers said while the support offers needed breathing room, it does not address ongoing structural challenges, including trade barriers that have limited market access for major crops. Farm leaders continue to urge policymakers to pursue long-term market solutions alongside emergency support. -NAFB

Farmers say new $12B aid still falls short 

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

Soybean futures alternated between marginal losses and gains multiple times through Tuesday's session, ultimately settling slightly higher. Meanwhile, corn and wheat futures were also very indecisive, with corn prices remaining in prevailing price range, and wheat futures themselves mixed, with lower Kansas City futures but higher Chicago and Minneapolis markets. In outside markets, the Dow Jones Industrial Average has moved to new record highs on Thursday following the interest rate cut by the Federal Reserve on Wednesday. Meanwhile, energy prices provided some pressure to Ag futures on Thursday, with crude oil futures lower for the third session out of the past four, hitting the lowest price for most active futures since mid-October, which is among the lowest of 2025 as well.

The live cattle complex grew more brave as the market pushed a $1.00 to $2.00 rally into Thursday's noon hour, but in doing so has grown increasingly closer to pushing the market's resistance at its 100-day moving average. But until this point, traders haven't been convinced that the market possesses enough support to break above that threshold. Upon seeing some sharply higher sales develop in the fed cash cattle market, traders have grown braver. A few deals have been marked this morning at $355 dressed in Nebraska, which is $12.00 higher than last week's weighted average. Boxed beef prices are mixed: choice down $0.42 ($358.94) and select up $0.77 ($345.65) with a movement of 114 loads (52.95 loads of choice, 9.31 loads of select, 40.08 loads of trim and 11.42 loads of ground beef).

The feeder cattle complex has taken the brave leap of faith as it's seeing its spot January contract trade above its 100-day moving average.With the bullish developments in the fed cash cattle market, there's a chance that the market could close with this momentum.

The lean hog complex has also broken through its resistance at $82.00 as the spot February contract is currently trading above $84.00. A bullish tone has seemed to overtake the livestock complex, which is helping lend the lean hog complex a little more support, and it's also favorable that pork cutout values were higher again this morning.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/11135302/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed up 2 1/4 cents and May corn was up 2 1/2 cents. January soybeans closed up 2 1/4 cents and March soybeans were up 1 3/4 cents. March KC wheat closed down 1 cent, March Chicago wheat was up 4 cents, March Minneapolis wheat was up 1 cent.Soybean futures alternated between marginal losses and gains multiple times through Tuesday's session, ultimately settling slightly higher. Meanwhile, corn and wheat futures were also very indecisive, with corn prices remaining in prevailing price range, and wheat futures themselves mixed, with lower Kansas City futures but higher Chicago and Minneapolis markets. In outside markets, the Dow Jones Industrial Average has moved to new record highs on Thursday following the interest rate cut by the Federal Reserve on Wednesday. Meanwhile, energy prices provided some pressure to Ag futures on Thursday, with crude oil futures lower for the third session out of the past four, hitting the lowest price for most active futures since mid-October, which is among the lowest of 2025 as well.LIVESTOCK:The live cattle complex grew more brave as the market pushed a $1.00 to $2.00 rally into Thursday's noon hour, but in doing so has grown increasingly closer to pushing the market's resistance at its 100-day moving average. But until this point, traders haven't been convinced that the market possesses enough support to break above that threshold. Upon seeing some sharply higher sales develop in the fed cash cattle market, traders have grown braver. A few deals have been marked this morning at $355 dressed in Nebraska, which is $12.00 higher than last week's weighted average. Boxed beef prices are mixed: choice down $0.42 ($358.94) and select up $0.77 ($345.65) with a movement of 114 loads (52.95 loads of choice, 9.31 loads of select, 40.08 loads of trim and 11.42 loads of ground beef).The feeder cattle complex has taken the brave leap of faith as it's seeing its spot January contract trade above its 100-day moving average.With the bullish developments in the fed cash cattle market, there's a chance that the market could close with this momentum.The lean hog complex has also broken through its resistance at $82.00 as the spot February contract is currently trading above $84.00. A bullish tone has seemed to overtake the livestock complex, which is helping lend the lean hog complex a little more support, and it's also favorable that pork cutout values were higher again this morning. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/11135302/web-closing-markets.mp3">Click HERE for audio</a>

A new CoBank Report on the forces shaping the economy in 2026 says ample grain supplies will likely continue burdening the markets in 2026. Global grain and oilseed markets are still oversupplied, but increased biofuels production and improving export conditions are boosting optimism that prices have passed their cyclical bottoms. Demand for U.S. grains and oilseeds will continue strengthening as low prices stimulate usage. 

Elsewhere, investment in efficiency is paying dividends in animal protein production as consumers continue demanding more. Despite rising prices for meat and poultry, animal protein demand is expected to remain strong in 2026. The combination of higher revenues and falling feed prices is boosting producer optimism for the year ahead, but not to the degree that expansion is expected to proliferate. Milk protein is also poised for an extended bull-market run as demand for protein-based dairy products continues to climb. 

A new CoBank Report on the forces shaping the economy in 2026 says ample grain supplies will likely continue burdening the markets in 2026. Global grain and oilseed markets are still oversupplied, but increased biofuels production and improving export conditions are boosting optimism that prices have passed their cyclical bottoms. Demand for U.S. grains and oilseeds will continue strengthening as low prices stimulate usage. Elsewhere, investment in efficiency is paying dividends in animal protein production as consumers continue demanding more. Despite rising prices for meat and poultry, animal protein demand is expected to remain strong in 2026. The combination of higher revenues and falling feed prices is boosting producer optimism for the year ahead, but not to the degree that expansion is expected to proliferate. Milk protein is also poised for an extended bull-market run as demand for protein-based dairy products continues to climb. -NAFB

CoBank: forces shaping the 2026 rural economy

The Sustainable Aviation Fuel Coalition’s Executive Director Allison Graab, applauded the introduction of the “Securing America’s Fuels Act” in the U.S. House. The SAF Act restores the full value of the credit for SAF and extends the entire 45Z tax credit through 2033. Senator Mike Flood (NE), one of the sponsors, said now is the right time for this legislation as America is on the cusp of the next great biofuels' revolution. “This Act is yet another way that Congress can grow our biofuels economy and encourage innovation that creates great jobs across Rural America,” Flood said. 

Kansas Representative, Sharice Davids said the SAF Act ensures that clean fuel production incentives are strong and long-term, so businesses, farmers, and innovators can plan for the future with confidence. “Sustainable aviation fuel isn’t just good for the environment, it’s good for our farmers, communities, and economy,” said Kansas Representative Tracey Mann. 

The Sustainable Aviation Fuel Coalition’s Executive Director Allison Graab, applauded the introduction of the “Securing America’s Fuels Act” in the U.S. House. The SAF Act restores the full value of the credit for SAF and extends the entire 45Z tax credit through 2033. Senator Mike Flood (NE), one of the sponsors, said now is the right time for this legislation as America is on the cusp of the next great biofuels' revolution. “This Act is yet another way that Congress can grow our biofuels economy and encourage innovation that creates great jobs across Rural America,” Flood said. Kansas Representative, Sharice Davids said the SAF Act ensures that clean fuel production incentives are strong and long-term, so businesses, farmers, and innovators can plan for the future with confidence. “Sustainable aviation fuel isn’t just good for the environment, it’s good for our farmers, communities, and economy,” said Kansas Representative Tracey Mann. -NAFB

SAF coalition applauds Securing America’s Fuels Act

The American Lamb Board is excited to share a new seasonal promotion designed to help drive consumers to restaurants that proudly feature American lamb, and to highlight the hard work of our U.S. sheep producers. 

ALB launched the Feast It Forward Giveaway, giving consumers a chance to win a gift card to their favorite restaurant serving American lamb. It’s a holiday incentive that keeps American lamb top-of-mind during one of the busiest dining seasons of the year. Participants can enter by visiting the Holiday Headquarters at Americanlamb.com. They can nominate their favorite restaurant that serves lamb and submit their entry. 

Winners will be announced at the end of December. “It’s a fun giveaway that celebrates the chefs, restaurants, and the producers who bring our American Lamb experiences to life,” said ALB Chair Jeff Ebert. “We support the restaurants that champion American Lamb and give consumers another reason to enjoy it.”

The American Lamb Board is excited to share a new seasonal promotion designed to help drive consumers to restaurants that proudly feature American lamb, and to highlight the hard work of our U.S. sheep producers. ALB launched the Feast It Forward Giveaway, giving consumers a chance to win a gift card to their favorite restaurant serving American lamb. It’s a holiday incentive that keeps American lamb top-of-mind during one of the busiest dining seasons of the year. Participants can enter by visiting the Holiday Headquarters at Americanlamb.com. They can nominate their favorite restaurant that serves lamb and submit their entry. Winners will be announced at the end of December. “It’s a fun giveaway that celebrates the chefs, restaurants, and the producers who bring our American Lamb experiences to life,” said ALB Chair Jeff Ebert. “We support the restaurants that champion American Lamb and give consumers another reason to enjoy it.”- NAFB

Lamb Farmers Launch Feast It Forward Giveaway

Following the success of its 40th music anniversary and food festival in Minneapolis, Minnesota, Farm Aid said it’s distributing over $1.3 million in grant funding this year to support family farmers. 

Putting the proceeds of its annual festival to work to strengthen family farms and agriculture, Farm Aid’s End of the Year Grant Program advances the on-the-ground work of farm and food organizations across the country. “These organizations are at the heart of the farm movement, with family farmers at the center of their work and leadership,” said Farm Aid President and Founder Willie Nelson. “This is especially important as farmers once again face trying times reminiscent of the crisis that gave rise to Farm Aid and the movement we’re a part of.” 

This month, Farm Aid committed $1,146,000 to 106 family farm, rural response, and urban agriculture organizations. Another $190,000+ going to other grant programs brings it to $1,336,000 this year.

Following the success of its 40th music anniversary and food festival in Minneapolis, Minnesota, Farm Aid said it’s distributing over $1.3 million in grant funding this year to support family farmers. Putting the proceeds of its annual festival to work to strengthen family farms and agriculture, Farm Aid’s End of the Year Grant Program advances the on-the-ground work of farm and food organizations across the country. “These organizations are at the heart of the farm movement, with family farmers at the center of their work and leadership,” said Farm Aid President and Founder Willie Nelson. “This is especially important as farmers once again face trying times reminiscent of the crisis that gave rise to Farm Aid and the movement we’re a part of.” This month, Farm Aid committed $1,146,000 to 106 family farm, rural response, and urban agriculture organizations. Another $190,000+ going to other grant programs brings it to $1,336,000 this year.- NAFB

Farm Aid Distributes Over $1.3 Million in Grants

The USDA is making $12 billion available in one-time bridge payments to American farmers in response to temporary trade market disruptions and increased production costs that are still impacting farmers. 

These bridge payments are intended in part to aid farmers until investments from the One Big Beautiful Bill Act, which includes a 10-21 percent increase in reference prices, are set to reach eligible farmers on October 1, 2026. Of the $12 billion provided, up to $11 billion will be used for the Farmer Bridge Assistance Program, which provides broad relief to row crop farmers producing a wide range of commodities. Farmers who qualify for the FBA Program can expect payments to be released by February 28, 2026. 

Eligible farmers should ensure their 2025 acreage reporting is factual and accurate by 5pm ET on December 19, 2025. Commodity-specific payment rates will be released by the end of the month.

The USDA is making $12 billion available in one-time bridge payments to American farmers in response to temporary trade market disruptions and increased production costs that are still impacting farmers. These bridge payments are intended in part to aid farmers until investments from the One Big Beautiful Bill Act, which includes a 10-21 percent increase in reference prices, are set to reach eligible farmers on October 1, 2026. Of the $12 billion provided, up to $11 billion will be used for the Farmer Bridge Assistance Program, which provides broad relief to row crop farmers producing a wide range of commodities. Farmers who qualify for the FBA Program can expect payments to be released by February 28, 2026. Eligible farmers should ensure their 2025 acreage reporting is factual and accurate by 5pm ET on December 19, 2025. Commodity-specific payment rates will be released by the end of the month.- NAFB

More Details on the Emergency Bridge Payments to Farmers

March corn was up 4 1/4 cents per bushel, January soybeans were down 6 1/2 cents, March KC wheat was 1/4 cent lower steady, March Chicago wheat was 1/2 cent higher and March Minneapolis wheat was near unchanged.

Heading into the Tuesday close, except for corn, the December WASDE report turned out to be a dud. Corn export sales were increased by a more-than-expected 125 mb to a record large 3.2 billion bushels. The wheat and soy balance sheets in the U.S. were left untouched and that seems strange for beans with the tepid pace of China purchases. In wheat, major exporter supplies rose by close to 9 mmt, but that was pretty much in the market.

The live cattle complex got off to a mild rally this morning as the market desires to trade higher, but traders aren't confident that the market possesses enough support to break through the market's stiff resistance at its 40-day and 100-day moving averages just yet. Still no cash cattle trade has developed and bids and asking prices remain elusive at this point. Tuesday's WASDE report shared mixed news for cattle and beef markets of 2025 and 2026. Beef production for 2025 was increased as both fed and non-fed slaughter have increased, and as carcass weights continue to be at an all-time high. Beef production for 2025 is now estimated at 25,950 million pounds -- up 194 million pounds from last month's report. Beef production for 2026 increased from last month's report as well -- now estimated to total 25,725 million pounds, up 335 million pounds from last month's estimate.

The feeder cattle complex was traded right in line again this week with the live cattle market -- seeing more than enough fundamental support in feeder cattle sales in the countryside -- but without the technical reassurance from the live cattle market, traders aren't willing to push the contracts beyond the 40-day and 100-day moving averages just yet. Yesterday afternoon, feeder cattle prices were marked anywhere from $5.00 to $30.00 higher as demand has again perked back up in the countryside.

And just like the cattle complex, the market's resistance simply seems too stiff for the lean hog complex to challenge at this point in time, as most of the contracts traded lower into the day's closing bell. It's likely that the market will keep this slightly lower tone, as it's going to take substantial fundamental support to develop before traders will likely challenge that resistance threshold. And although midday pork cutout values were higher, traders are going to need to see consistent support as well. Tuesday's WASDE report shared mixed news for the hog and pork markets of 2025 and 2026. Pork production for 2025 was decreased by 25 million pounds, and pork production for 2026 remained steady at 27,475 million pounds for 2026.

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By: NATHAN STUEDLEGRAINS:March corn was up 4 1/4 cents per bushel, January soybeans were down 6 1/2 cents, March KC wheat was 1/4 cent lower steady, March Chicago wheat was 1/2 cent higher and March Minneapolis wheat was near unchanged. Heading into the Tuesday close, except for corn, the December WASDE report turned out to be a dud. Corn export sales were increased by a more-than-expected 125 mb to a record large 3.2 billion bushels. The wheat and soy balance sheets in the U.S. were left untouched and that seems strange for beans with the tepid pace of China purchases. In wheat, major exporter supplies rose by close to 9 mmt, but that was pretty much in the market.LIVESTOCK:The live cattle complex got off to a mild rally this morning as the market desires to trade higher, but traders aren't confident that the market possesses enough support to break through the market's stiff resistance at its 40-day and 100-day moving averages just yet. Still no cash cattle trade has developed and bids and asking prices remain elusive at this point. Tuesday's WASDE report shared mixed news for cattle and beef markets of 2025 and 2026. Beef production for 2025 was increased as both fed and non-fed slaughter have increased, and as carcass weights continue to be at an all-time high. Beef production for 2025 is now estimated at 25,950 million pounds -- up 194 million pounds from last month's report. Beef production for 2026 increased from last month's report as well -- now estimated to total 25,725 million pounds, up 335 million pounds from last month's estimate. The feeder cattle complex was traded right in line again this week with the live cattle market -- seeing more than enough fundamental support in feeder cattle sales in the countryside -- but without the technical reassurance from the live cattle market, traders aren't willing to push the contracts beyond the 40-day and 100-day moving averages just yet. Yesterday afternoon, feeder cattle prices were marked anywhere from $5.00 to $30.00 higher as demand has again perked back up in the countryside.And just like the cattle complex, the market's resistance simply seems too stiff for the lean hog complex to challenge at this point in time, as most of the contracts traded lower into the day's closing bell. It's likely that the market will keep this slightly lower tone, as it's going to take substantial fundamental support to develop before traders will likely challenge that resistance threshold. And although midday pork cutout values were higher, traders are going to need to see consistent support as well. Tuesday's WASDE report shared mixed news for the hog and pork markets of 2025 and 2026. Pork production for 2025 was decreased by 25 million pounds, and pork production for 2026 remained steady at 27,475 million pounds for 2026.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/09141508/web-closing-markets.mp3">Click HERE for audio</a>