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

Soybeans continued their recent bullish burst for much of Friday morning, before sellers became very active and ultimately erased roughly 25 cents of value, sending prices well off daily highs. Traders were clearly uncomfortable carrying recent length into the weekend and saw reason to book some profits. Moreso, traders may be starting to lose patience and wish to see some export sales to follow up President Trump's very bullish Wednesday trade comments, with the daily flash sales page from USDA quiet both Thursday and Friday to close the week. Meanwhile, selling drove corn and wheat futures lower, negatively influencing soybeans as well. Traders are preparing for next week's WASDE report which will very likely reiterate January's findings of multi-year highs in U.S. grain reserves.&nbsp;

What a breath-holding last couple of days it's been for the cattle complex! Thursday, the market experienced a sharp sell-off as traders were nervous about the union strike at the JBS packing plant in Greely, Colorado, which consequently sent the live cattle complex tumbling mostly $5.00 lower. But the fast-paced environment of the marketplace seems to have moved past that headline and traders were again fixated on the market's strong fundamental strength as they were pleased to note the uptick in boxed beef prices and even more pleased to see fed cash cattle prices trading higher.&nbsp;

The feeder cattle complex was enjoying a healthy rally as well as the market is currently trading $6.00 to $7.00 higher into Friday's noon hour. Support came from the uptick in fed cash cattle prices to the additional fundamental support of stronger boxed beef prices and, of course, the technical confidence of saw the live cattle contracts scaling higher as well.

The lean hog contracts were enjoying a mild rally into Friday's noon hour as the market was merely chopping sideways into the noon hour. If the market weren't up against immediate resistance thresholds, then there was a chance that it would potentially still be trading robustly higher. But with technical fatigue setting in and midday pork cutout values down softly, traders have deemed the safest bet ahead of the weekend is a mild rally as opposed to an aggressive one.&nbsp;

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/01/23205559/30001.mp3">Click HERE for Audio</a>

Grains:March corn closed down 4 3/4 cents and May corn was down 4 1/4 cents. March soybeans closed up 3 cents and May soybeans were up 2 3/4 cents. March KC wheat closed down 7 1/4 cents, March Chicago wheat was down 5 1/2 cents, March MIAX Minneapolis wheat was down 1 1/2 cents.Soybeans continued their recent bullish burst for much of Friday morning, before sellers became very active and ultimately erased roughly 25 cents of value, sending prices well off daily highs. Traders were clearly uncomfortable carrying recent length into the weekend and saw reason to book some profits. Moreso, traders may be starting to lose patience and wish to see some export sales to follow up President Trump's very bullish Wednesday trade comments, with the daily flash sales page from USDA quiet both Thursday and Friday to close the week. Meanwhile, selling drove corn and wheat futures lower, negatively influencing soybeans as well. Traders are preparing for next week's WASDE report which will very likely reiterate January's findings of multi-year highs in U.S. grain reserves.&nbsp;Livestock:What a breath-holding last couple of days it's been for the cattle complex! Thursday, the market experienced a sharp sell-off as traders were nervous about the union strike at the JBS packing plant in Greely, Colorado, which consequently sent the live cattle complex tumbling mostly $5.00 lower. But the fast-paced environment of the marketplace seems to have moved past that headline and traders were again fixated on the market's strong fundamental strength as they were pleased to note the uptick in boxed beef prices and even more pleased to see fed cash cattle prices trading higher.&nbsp;The feeder cattle complex was enjoying a healthy rally as well as the market is currently trading $6.00 to $7.00 higher into Friday's noon hour. Support came from the uptick in fed cash cattle prices to the additional fundamental support of stronger boxed beef prices and, of course, the technical confidence of saw the live cattle contracts scaling higher as well.The lean hog contracts were enjoying a mild rally into Friday's noon hour as the market was merely chopping sideways into the noon hour. If the market weren't up against immediate resistance thresholds, then there was a chance that it would potentially still be trading robustly higher. But with technical fatigue setting in and midday pork cutout values down softly, traders have deemed the safest bet ahead of the weekend is a mild rally as opposed to an aggressive one.&nbsp;<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/01/23205559/30001.mp3">Click HERE for Audio</a>

Commodity markets daily recap

A bipartisan group of former leaders of America’s major agricultural commodity organizations and biofuels organizations, farmer leaders, and former USDA officials issued a stark warning to Congress and the Trump administration. 

In a&nbsp;<a href="https://eu-assets.contentstack.com/v3/assets/bltdd43779342bd9107/blt439cb71bf2dc05d5/69834b24c397d881044bb0ed/Farm_Leader_Letter_to_House_and_Senate_Ag_020326_with_Media_Advisory.pdf">letter</a>, they outlined the deteriorating state of the farm economy, calling current conditions a potential “widespread collapse of American agriculture.” &nbsp;The letter was signed by Harold Wolle (WOOL-lee), former NCGA President, Bob Dineen, the past president of the Renewable Fuels Association, Jim Mulhern, the former President of the National Milk Producers Federation, and many others.

The letter proposes many solutions, including immediately exempting all farm inputs from tariffs and repealing tariffs that are disrupting agricultural export markets. Other solutions include passing year-round E15 legislation, a new farm bill, and encouraging the administration to quickly complete a review of the U.S.-Mexico-Canada Trade Agreement. They’re also asking for Trade Promotion Authority for the administration and new farm labor reform.

A bipartisan group of former leaders of America’s major agricultural commodity organizations and biofuels organizations, farmer leaders, and former USDA officials issued a stark warning to Congress and the Trump administration. In a&nbsp;<a href="https://eu-assets.contentstack.com/v3/assets/bltdd43779342bd9107/blt439cb71bf2dc05d5/69834b24c397d881044bb0ed/Farm_Leader_Letter_to_House_and_Senate_Ag_020326_with_Media_Advisory.pdf">letter</a>, they outlined the deteriorating state of the farm economy, calling current conditions a potential “widespread collapse of American agriculture.” &nbsp;The letter was signed by Harold Wolle (WOOL-lee), former NCGA President, Bob Dineen, the past president of the Renewable Fuels Association, Jim Mulhern, the former President of the National Milk Producers Federation, and many others. The letter proposes many solutions, including immediately exempting all farm inputs from tariffs and repealing tariffs that are disrupting agricultural export markets. Other solutions include passing year-round E15 legislation, a new farm bill, and encouraging the administration to quickly complete a review of the U.S.-Mexico-Canada Trade Agreement. They’re also asking for Trade Promotion Authority for the administration and new farm labor reform.-NAFB

Former Ag Leaders Warn of Farm Economy in Crisis

The CattleFax Outlook Seminar, held as a part of CattleCon 2026 in Nashville, Tennessee, said there are signals showing changes ahead in 2026. The U.S. cattle and beef industry enters 2026 with strong but volatile market conditions, as historically tight cattle supplies, record-setting beef demand, and elevated policy and weather uncertainty continue to support prices, even as markets appear to be near cyclical highs. 

“Tight inventories and exceptional demand remain the dominant forces shaping the market,” said Mike Murphy, CattleFax Chief Operating Officer. “However, producer demographics, high input costs, and policy uncertainty point to a slow and measured expansion phase.” 

The Outlook Seminar’s weather forecast is calling for a transition out of La Niña. In the near-term, drought risks remain elevated across the Southern U.S. and Central Plains, with a 70 percent chance of intensification. A neutral spring setup may help distribute moisture more evenly, though lingering La Niña effects could limit precipitation in the West.&nbsp;

The CattleFax Outlook Seminar, held as a part of CattleCon 2026 in Nashville, Tennessee, said there are signals showing changes ahead in 2026. The U.S. cattle and beef industry enters 2026 with strong but volatile market conditions, as historically tight cattle supplies, record-setting beef demand, and elevated policy and weather uncertainty continue to support prices, even as markets appear to be near cyclical highs. “Tight inventories and exceptional demand remain the dominant forces shaping the market,” said Mike Murphy, CattleFax Chief Operating Officer. “However, producer demographics, high input costs, and policy uncertainty point to a slow and measured expansion phase.” The Outlook Seminar’s weather forecast is calling for a transition out of La Niña. In the near-term, drought risks remain elevated across the Southern U.S. and Central Plains, with a 70 percent chance of intensification. A neutral spring setup may help distribute moisture more evenly, though lingering La Niña effects could limit precipitation in the West.&nbsp;-NAFB

Will the Cattle Cycle Turn in 2026?

March corn closed up 5 1/2 cents and May corn was up 6 cents. March soybeans closed up 20 cents and May soybeans were up 21 1/4 cents. March KC wheat closed up 8 1/4 cents, March Chicago wheat was up 8 1/2 cents, March Minneapolis wheat was up 5 1/2 cents.

The soybean market continued to set a bullish tone across row-crop futures Thursday, following President Trump's comments on Wednesday that China may look to extend their old-crop purchase goal for U.S. soybeans by an additional 8 million metric tons (mmt) above the previous 12 mmt. There are obviously a lot of question marks regarding how feasible this is but for now the market is reflecting added demand potential with a 45-50 cent move over the past two sessions. Corn and wheat markets were able to join soybeans with higher prices as well on Thursday, despite being a little more subdued in their rallying efforts. Outside markets on Thursday were mostly a negative influence on ag futures, with lower energy markets after Iran and U.S. officials did agree to move forward with planned negotiations in Oman on Friday. The U.S. dollar was firmer for the fifth time in the past seven sessions, and equity markets moved lower as trade has turned sideways over the past month.

Live cattle futures quickly backed away from part of early week gains Thursday. Losses of $4 to $5 per cwt were seen at midday, creating some concern that additional sharp losses may continue to develop over the coming days. The news focus seems to be pointed to the processing reduction seen in the JBS Greeley plant based on reported impending strikes at the plant. The likelihood that this will have a major impact on overall industry processing capacity beyond a few days is limited given the current structure of the market and current overall company and industry availability. This industry is not beyond rerouting trucks to other plants or companies in order to sustain needs and capacity levels. But watching daily slaughter rates through the month of February will help give an indicator of overall capacity levels. Firm pressure in outside markets and weaker beef values cannot be downplayed in the hesitancy for futures buyers to step into a market which very well could have run out of oxygen at current price levels. Cash cattle markets are still sluggish with a few bids on the table in parts of Iowa, and a major packer has offered to "call in" for $378 in eastern Nebraska. Packer inquiry should continue to improve as the day progresses, but significant trade volume will likely be delayed until later today and/or Friday. Boxed beef prices are lower: choice down $0.82 ($367.20) and select down $1.08 ($361.01) with a movement of 48.79 loads (38.54 loads of choice, 4.14 loads of select, zero loads of trim and 6.11 loads of ground beef).

Feeder cattle futures were leading the market lower Thursday. This market move seems like a general reversal to early week buyer support that flooded the market during trade Monday and Tuesday. The news cycle focus in the market seems to be centered on the developing strike at the JBS plant in Greeley, but this move is likely much more focused on the ability to sustain additional buyer support at current price levels. Nearby futures have rallied nearly $70 per cwt since the November low, creating a generally unchecked upward market surge within the entire cattle market. This lack of small to moderate corrections can make any market vulnerable, including the cattle market which is focusing on tight supplies. In comparison to the wild shifts seen last fall, these swings seem generally tame. But it does create significant uncertainty given how lightly traded the feeder cattle market remains with generally light volume.

Lean hog futures had been the quiet market through the entire livestock complex Thursday. Spot February futures were leading the market lower with light pressure, while very narrow losses are seen through the rest of the contracts. The continued upward move higher in nearby futures since hitting seasonal lows in November have continued to move prices well above the 40-day moving average. Recent volatility in cattle trade seems to have lost its short-term impact on hog traders at this moment as traders continue to look for continued strong demand support as 2026 develops. At current price levels and comparative price relationships to beef, the pork industry seems well insulated to potential economic pressure that may develop over the coming weeks and months.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/02/05140554/web-closing-markets.mp3">Click HERE for audio</a>

GRAINS:March corn closed up 5 1/2 cents and May corn was up 6 cents. March soybeans closed up 20 cents and May soybeans were up 21 1/4 cents. March KC wheat closed up 8 1/4 cents, March Chicago wheat was up 8 1/2 cents, March Minneapolis wheat was up 5 1/2 cents.The soybean market continued to set a bullish tone across row-crop futures Thursday, following President Trump's comments on Wednesday that China may look to extend their old-crop purchase goal for U.S. soybeans by an additional 8 million metric tons (mmt) above the previous 12 mmt. There are obviously a lot of question marks regarding how feasible this is but for now the market is reflecting added demand potential with a 45-50 cent move over the past two sessions. Corn and wheat markets were able to join soybeans with higher prices as well on Thursday, despite being a little more subdued in their rallying efforts. Outside markets on Thursday were mostly a negative influence on ag futures, with lower energy markets after Iran and U.S. officials did agree to move forward with planned negotiations in Oman on Friday. The U.S. dollar was firmer for the fifth time in the past seven sessions, and equity markets moved lower as trade has turned sideways over the past month.LIVESTOCK:Live cattle futures quickly backed away from part of early week gains Thursday. Losses of $4 to $5 per cwt were seen at midday, creating some concern that additional sharp losses may continue to develop over the coming days. The news focus seems to be pointed to the processing reduction seen in the JBS Greeley plant based on reported impending strikes at the plant. The likelihood that this will have a major impact on overall industry processing capacity beyond a few days is limited given the current structure of the market and current overall company and industry availability. This industry is not beyond rerouting trucks to other plants or companies in order to sustain needs and capacity levels. But watching daily slaughter rates through the month of February will help give an indicator of overall capacity levels. Firm pressure in outside markets and weaker beef values cannot be downplayed in the hesitancy for futures buyers to step into a market which very well could have run out of oxygen at current price levels. Cash cattle markets are still sluggish with a few bids on the table in parts of Iowa, and a major packer has offered to "call in" for $378 in eastern Nebraska. Packer inquiry should continue to improve as the day progresses, but significant trade volume will likely be delayed until later today and/or Friday. Boxed beef prices are lower: choice down $0.82 ($367.20) and select down $1.08 ($361.01) with a movement of 48.79 loads (38.54 loads of choice, 4.14 loads of select, zero loads of trim and 6.11 loads of ground beef).Feeder cattle futures were leading the market lower Thursday. This market move seems like a general reversal to early week buyer support that flooded the market during trade Monday and Tuesday. The news cycle focus in the market seems to be centered on the developing strike at the JBS plant in Greeley, but this move is likely much more focused on the ability to sustain additional buyer support at current price levels. Nearby futures have rallied nearly $70 per cwt since the November low, creating a generally unchecked upward market surge within the entire cattle market. This lack of small to moderate corrections can make any market vulnerable, including the cattle market which is focusing on tight supplies. In comparison to the wild shifts seen last fall, these swings seem generally tame. But it does create significant uncertainty given how lightly traded the feeder cattle market remains with generally light volume. Lean hog futures had been the quiet market through the entire livestock complex Thursday. Spot February futures were leading the market lower with light pressure, while very narrow losses are seen through the rest of the contracts. The continued upward move higher in nearby futures since hitting seasonal lows in November have continued to move prices well above the 40-day moving average. Recent volatility in cattle trade seems to have lost its short-term impact on hog traders at this moment as traders continue to look for continued strong demand support as 2026 develops. At current price levels and comparative price relationships to beef, the pork industry seems well insulated to potential economic pressure that may develop over the coming weeks and months. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/02/05140554/web-closing-markets.mp3">Click HERE for audio</a>

Groups representing fuel retailers across America expressed serious concerns with the Section 45Z Clean Fuel Production Credit. The associations say that 45Z is a giant step backward for American biofuel policy. NATSO, representing truck stops and travel plazas, SIGMA, America’s leading fuel marketers, and the National Association of Convenience Stores are urging Congress and the Administration to support simpler biofuel policies that would quickly reinvigorate biodiesel consumption and higher ethanol blends while enhancing the economy and energy market security.

 “The transition away from the Biodiesel Tax Credit to the 45Z production credit instituted a catastrophic decline in biofuels consumption that hurts the economy,” said NACS Deputy General Counsel Matt Durand. “Congress can fix it by bringing back the Biodiesel Tax Credit, which has a proven track record of delivering lower prices to consumers while benefiting farmers and biofuel producers.” 

Groups representing fuel retailers across America expressed serious concerns with the Section 45Z Clean Fuel Production Credit. The associations say that 45Z is a giant step backward for American biofuel policy. NATSO, representing truck stops and travel plazas, SIGMA, America’s leading fuel marketers, and the National Association of Convenience Stores are urging Congress and the Administration to support simpler biofuel policies that would quickly reinvigorate biodiesel consumption and higher ethanol blends while enhancing the economy and energy market security. “The transition away from the Biodiesel Tax Credit to the 45Z production credit instituted a catastrophic decline in biofuels consumption that hurts the economy,” said NACS Deputy General Counsel Matt Durand. “Congress can fix it by bringing back the Biodiesel Tax Credit, which has a proven track record of delivering lower prices to consumers while benefiting farmers and biofuel producers.” -NAFB

Fuel retailers express concerns about 45Z guidelines

March corn closed up 1 cent and May corn was up 1 1/4 cents. March soybeans closed up 26 1/2 cents and May soybeans were up 27 1/2 cents. March KC wheat closed down 4 1/2 cents, March Chicago wheat was down 2 cents, March MIAX Minneapolis wheat was down 2 1/4 cents.

What began as a fairly mundane session at midweek quickly became volatile following a midmorning social media post from President Trump, stating he had spoken with China's President Xi and hailed the conversation and general relationship with China as great, while pointing to increased soybean trade as a result. This obviously tripped headline driven algorithms to go on a buying spree across all soybean product markets, while providing positive influence on corn and wheat markets as well, though the latter would not sustain a move higher.

It's been another prosperous morning for the livestock complex as all three of the markets are trading fully higher into Wednesday's noon hour. Still no cash cattle trade has developed, but it's assumed prices will be higher again this week as the board's been incredibly supportive and market's fundamentals point to higher prices as market-ready supplies of cattle are thin.

The live cattle complex continued to rally aggressively into Wednesday's noon hour as the market is robustly supported by strong fundamentals. Aside from last week's bullish Cattle Inventory report, and the rally seen in last week's fed cash cattle market, the market knows market-ready supplies of cattle are thin right now and fed cash cattle prices are likely to continue to scale higher through at the least the first quarter of the year.&nbsp;

It's a full-fledged break-out day for the lean hog complex as the spot April contract scales to new contract highs as demand has been plentiful and the market isn't fearful of grinding higher.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/11/19211542/30001.mp3">Click HERE for Audio</a>

Grains:March corn closed up 1 cent and May corn was up 1 1/4 cents. March soybeans closed up 26 1/2 cents and May soybeans were up 27 1/2 cents. March KC wheat closed down 4 1/2 cents, March Chicago wheat was down 2 cents, March MIAX Minneapolis wheat was down 2 1/4 cents.What began as a fairly mundane session at midweek quickly became volatile following a midmorning social media post from President Trump, stating he had spoken with China's President Xi and hailed the conversation and general relationship with China as great, while pointing to increased soybean trade as a result. This obviously tripped headline driven algorithms to go on a buying spree across all soybean product markets, while providing positive influence on corn and wheat markets as well, though the latter would not sustain a move higher.Livestock:It's been another prosperous morning for the livestock complex as all three of the markets are trading fully higher into Wednesday's noon hour. Still no cash cattle trade has developed, but it's assumed prices will be higher again this week as the board's been incredibly supportive and market's fundamentals point to higher prices as market-ready supplies of cattle are thin.The live cattle complex continued to rally aggressively into Wednesday's noon hour as the market is robustly supported by strong fundamentals. Aside from last week's bullish Cattle Inventory report, and the rally seen in last week's fed cash cattle market, the market knows market-ready supplies of cattle are thin right now and fed cash cattle prices are likely to continue to scale higher through at the least the first quarter of the year.&nbsp;It's a full-fledged break-out day for the lean hog complex as the spot April contract scales to new contract highs as demand has been plentiful and the market isn't fearful of grinding higher.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/11/19211542/30001.mp3">Click HERE for Audio</a>

USDA says it will release glow-in-the-dark sterile flies along the U.S.–Mexico border to prevent the New World screwworm from spreading north and threatening American livestock. The flesh-eating parasite has recently been detected in northern Mexico, prompting renewed concern among cattle producers and animal health officials. 

USDA officials said the sterile insect technique, which was used successfully to eradicate the pest from the U.S. decades ago, disrupts reproduction and limits population growth. Ranchers have been urged to monitor herds closely and report suspected cases immediately. Reuters reported that limited production capacity for sterile flies could complicate containment efforts if infestations expand. Livestock groups warn that an outbreak could severely impact cattle supplies and drive beef prices higher.

USDA says it will release glow-in-the-dark sterile flies along the U.S.–Mexico border to prevent the New World screwworm from spreading north and threatening American livestock. The flesh-eating parasite has recently been detected in northern Mexico, prompting renewed concern among cattle producers and animal health officials. USDA officials said the sterile insect technique, which was used successfully to eradicate the pest from the U.S. decades ago, disrupts reproduction and limits population growth. Ranchers have been urged to monitor herds closely and report suspected cases immediately. Reuters reported that limited production capacity for sterile flies could complicate containment efforts if infestations expand. Livestock groups warn that an outbreak could severely impact cattle supplies and drive beef prices higher.- NAFB

USDA Moves to Block Screwworm Threat near Southern Border

The Renewable Fuels Association welcomed a proposed rule implementing the 45Z Clean Fuel Production Tax Credit, calling it a key step toward providing long-awaited clarity for ethanol and other biofuel producers. In a statement, RFA President and CEO Geoff Cooper said the proposal from the U.S. Treasury Department reflects progress in aligning the credit with congressional intent by rewarding low-carbon fuel production based on lifecycle greenhouse gas emissions. He said regulatory certainty is critical for producers making long-term investment decisions. 

The 45Z credit, created under the Inflation Reduction Act, replaces earlier biofuel tax incentives and is designed to encourage domestic production of cleaner transportation fuels beginning in 2025. Industry groups have urged Treasury to clearly define eligibility, emissions modeling and reporting requirements. RFA said the proposed regulation would help strengthen rural economies, support U.S. energy security and accelerate innovation across the renewable fuels sector as producers work to lower carbon intensity and expand clean fuel markets.

The Renewable Fuels Association welcomed a proposed rule implementing the 45Z Clean Fuel Production Tax Credit, calling it a key step toward providing long-awaited clarity for ethanol and other biofuel producers. In a statement, RFA President and CEO Geoff Cooper said the proposal from the U.S. Treasury Department reflects progress in aligning the credit with congressional intent by rewarding low-carbon fuel production based on lifecycle greenhouse gas emissions. He said regulatory certainty is critical for producers making long-term investment decisions. The 45Z credit, created under the Inflation Reduction Act, replaces earlier biofuel tax incentives and is designed to encourage domestic production of cleaner transportation fuels beginning in 2025. Industry groups have urged Treasury to clearly define eligibility, emissions modeling and reporting requirements. RFA said the proposed regulation would help strengthen rural economies, support U.S. energy security and accelerate innovation across the renewable fuels sector as producers work to lower carbon intensity and expand clean fuel markets.-NAFB

RFA Applauds Proposed 45Z Clean Fuel Tax Credit Rule

A new federal clarification has added momentum to the right-to-repair debate, with the Environmental Protection Agency confirming that farmers and independent mechanics can temporarily override emissions controls while repairing agricultural equipment. In guidance issued this week, the EPA said tools and software used to take equipment out of its certified configuration for diagnostics or repairs do not violate the Clean Air Act, as long as emissions systems are restored afterward. 

Supporters say the move removes a major legal gray area that has limited farmers’ ability to fix modern tractors and combines without manufacturer-authorized dealers. The issue has been central to years of disputes between farm groups and equipment makers over access to repair tools, software and manuals. Industry groups have warned that broader repair access could lead to emissions tampering or safety risks. The EPA action comes as Congress weighs bipartisan right-to-repair legislation and several states move to expand repair access, signaling growing federal engagement in a long-running fight over equipment ownership and control.

A new federal clarification has added momentum to the right-to-repair debate, with the Environmental Protection Agency confirming that farmers and independent mechanics can temporarily override emissions controls while repairing agricultural equipment. In guidance issued this week, the EPA said tools and software used to take equipment out of its certified configuration for diagnostics or repairs do not violate the Clean Air Act, as long as emissions systems are restored afterward. Supporters say the move removes a major legal gray area that has limited farmers’ ability to fix modern tractors and combines without manufacturer-authorized dealers. The issue has been central to years of disputes between farm groups and equipment makers over access to repair tools, software and manuals. Industry groups have warned that broader repair access could lead to emissions tampering or safety risks. The EPA action comes as Congress weighs bipartisan right-to-repair legislation and several states move to expand repair access, signaling growing federal engagement in a long-running fight over equipment ownership and control.-NAFB

EPA Clarification Gives Farmers New Leverage in Right-to-Repair

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

It was a generally positive session for ag markets Tuesday with soybean futures recovering from three consecutive lower sessions and building off bullish momentum which showed glimpses through Monday's rally off daily lows. Wheat markets, on the other hand, remain sluggish with bullish traders thus far lacking the confidence to extend the recent bounce beyond two-month highs which were hit last week. Corn was caught between the soybean rally and heavy wheat prices. Meanwhile, a recovery in energy prices following Monday's risk-off session provided a base of support Tuesday. In early afternoon Tuesday, it was reported that the U.S. had shot down an Iranian drone in the Persian Gulf, a swift ratcheting of tensions which had seemed to be cooling to begin the week, with nuclear negotiations set for Friday in Turkey. It is unclear at this point if those talks will move forward as planned.

The live cattle complex continued to move higher as traders have gained another level of confidence following last Friday's bullish Cattle Inventory report. The market is pressuring its technical barriers as this is currently the highest price point traded at since last October. As long as fundamental support continues to remain robust, traders will likely remain supportive and push the contracts higher. But it's undeniable traders will need to see continued fundamental support. Following last week's strong trade in the fed cash cattle market, there's been no new business develop yet and it's most likely trade will be delayed until Thursday or Friday of this week. It is assumed prices will be higher again this week as supplies of market-ready cattle remain thin. Boxed beef prices are higher: choice up $2.66 ($370.87) and select up $2.85 ($367.76) with a movement of 56 loads (40.98 loads of choice, 3.08 loads of select, 4.94 loads of trim and 6.53 loads of ground beef).

With encouragement from last week's bullish Cattle Inventory report, the stronger trade in the fed cash cattle market last week, and the live cattle contracts trading higher, the feeder cattle complex traded higher thanks to these support factors. If the live cattle contracts happen to weaken, there's a strong chance the feeder cattle contracts will too.

The lean hog complex started moderately higher and went into the closing bell the same way the day started. Hog prices average $86.27 on the Daily Direct Morning Hog Report, with prices ranging from $80.00 to $88.00 on 2,461 head and a five-day rolling average of $85.12. Pork cutouts total 191.65 loads with 176.52 loads of pork cuts and 15.13 loads of trim. Pork cutout values: up $0.35, $96.05.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/02/03143532/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed up 2 3/4 cents and May corn was up 2 1/4 cents. March soybeans closed up 5 1/2 cents and May soybeans were up 4 3/4 cents. March KC wheat closed down 1/2 cents, March Chicago wheat was up 1 cent, March Minneapolis wheat was down 3 1/4 cents.It was a generally positive session for ag markets Tuesday with soybean futures recovering from three consecutive lower sessions and building off bullish momentum which showed glimpses through Monday's rally off daily lows. Wheat markets, on the other hand, remain sluggish with bullish traders thus far lacking the confidence to extend the recent bounce beyond two-month highs which were hit last week. Corn was caught between the soybean rally and heavy wheat prices. Meanwhile, a recovery in energy prices following Monday's risk-off session provided a base of support Tuesday. In early afternoon Tuesday, it was reported that the U.S. had shot down an Iranian drone in the Persian Gulf, a swift ratcheting of tensions which had seemed to be cooling to begin the week, with nuclear negotiations set for Friday in Turkey. It is unclear at this point if those talks will move forward as planned.LIVESTOCK:The live cattle complex continued to move higher as traders have gained another level of confidence following last Friday's bullish Cattle Inventory report. The market is pressuring its technical barriers as this is currently the highest price point traded at since last October. As long as fundamental support continues to remain robust, traders will likely remain supportive and push the contracts higher. But it's undeniable traders will need to see continued fundamental support. Following last week's strong trade in the fed cash cattle market, there's been no new business develop yet and it's most likely trade will be delayed until Thursday or Friday of this week. It is assumed prices will be higher again this week as supplies of market-ready cattle remain thin. Boxed beef prices are higher: choice up $2.66 ($370.87) and select up $2.85 ($367.76) with a movement of 56 loads (40.98 loads of choice, 3.08 loads of select, 4.94 loads of trim and 6.53 loads of ground beef).With encouragement from last week's bullish Cattle Inventory report, the stronger trade in the fed cash cattle market last week, and the live cattle contracts trading higher, the feeder cattle complex traded higher thanks to these support factors. If the live cattle contracts happen to weaken, there's a strong chance the feeder cattle contracts will too.The lean hog complex started moderately higher and went into the closing bell the same way the day started. Hog prices average $86.27 on the Daily Direct Morning Hog Report, with prices ranging from $80.00 to $88.00 on 2,461 head and a five-day rolling average of $85.12. Pork cutouts total 191.65 loads with 176.52 loads of pork cuts and 15.13 loads of trim. Pork cutout values: up $0.35, $96.05.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/02/03143532/web-closing-markets.mp3">Click HERE for audio</a>

The Environmental Protection Agency is expected to reapprove Dicamba for over-the-top use on tolerant soybeans and cotton for the 2026 season. Reports say the decision is aimed at addressing weed control challenges and will likely include stricter regulations like buffering agents and a possible ban on applying Dicamba when the temperatures are high. In a draft statement from the EPA, the agency called the pending decision the most “protective” Dicamba registration in agency history. 

Producers were prohibited from using the herbicide last year because of a 2024 court decision vacating previous registrations. It would be the third time that the EPA approved the pesticide. On both previous occasions, federal courts blocked the approvals, citing the underestimation of the risks of chemical drift that could harm other farms.

The Environmental Protection Agency is expected to reapprove Dicamba for over-the-top use on tolerant soybeans and cotton for the 2026 season. Reports say the decision is aimed at addressing weed control challenges and will likely include stricter regulations like buffering agents and a possible ban on applying Dicamba when the temperatures are high. In a draft statement from the EPA, the agency called the pending decision the most “protective” Dicamba registration in agency history. Producers were prohibited from using the herbicide last year because of a 2024 court decision vacating previous registrations. It would be the third time that the EPA approved the pesticide. On both previous occasions, federal courts blocked the approvals, citing the underestimation of the risks of chemical drift that could harm other farms.-NAFB

EPA is expected to reapprove Dicamba

The cattle inventory was 86.2 million head on January 1, 2026, which continued a long-standing downward trend. Despite a year of strong prices, the USDA Cattle Inventory Report showed the overall U.S. cattle herd shrank by another 0.35 percent, and it’s now at the smallest level in 75 years. The beef cow herd total was 27.6 million head, down by one percent. The 2025 calf crop was 32.9 million head, the smallest total since 1941. 

Beef replacement heifers rose one percent to 4.71 million head. All cattle on feed totaled 13.8 million head, a three percent reduction from 2025. The number of milk cows in the U.S. increased to 9.57 million. Dr. Derrell Peel, a livestock market analyst for Oklahoma State University, said the market is likely still trying to find a bottom. “We’re probably stabilizing, but it’s a very slow process,” Peel said. “We’re likely not going to rebuild very fast.” 

The cattle inventory was 86.2 million head on January 1, 2026, which continued a long-standing downward trend. Despite a year of strong prices, the USDA Cattle Inventory Report showed the overall U.S. cattle herd shrank by another 0.35 percent, and it’s now at the smallest level in 75 years. The beef cow herd total was 27.6 million head, down by one percent. The 2025 calf crop was 32.9 million head, the smallest total since 1941. Beef replacement heifers rose one percent to 4.71 million head. All cattle on feed totaled 13.8 million head, a three percent reduction from 2025. The number of milk cows in the U.S. increased to 9.57 million. Dr. Derrell Peel, a livestock market analyst for Oklahoma State University, said the market is likely still trying to find a bottom. “We’re probably stabilizing, but it’s a very slow process,” Peel said. “We’re likely not going to rebuild very fast.” -NAFB

Cattle inventory hits a 75-year low

Missouri Director of Agriculture Chris Chinn announced this week that 17 Missouri youth groups have been selected as recipients of the 2026 Building Our American Communities grant program.

The awards provide $500 each to seven National FFA Organization chapters and 10 Missouri 4-H clubs to fund local community service initiatives. Projects range from physical upgrades to fairgrounds and parks to the improvement of community centers.

“Year after year we see terrific projects and community impact from FFA chapters and 4-H clubs across Missouri,” Director Chinn said. “This year is no different, and we are proud to support efforts that will make a difference in these communities for years to come.”

Established in the 1970s, the BOAC program is funded through the Missouri Agriculture Development Fund via an agreement with the USDA. All selected projects must be completed by Aug. 1, 2026.

<figure>
 <img src="https://media.eaglewebservices.com/public/2023/6/1685735875202.jpeg" alt="ffa logo" />
 <figcaption>ffa logo</figcaption>
 </figure>By RYAN SKAITHMissouri Director of Agriculture Chris Chinn announced this week that 17 Missouri youth groups have been selected as recipients of the 2026 Building Our American Communities grant program.The awards provide $500 each to seven National FFA Organization chapters and 10 Missouri 4-H clubs to fund local community service initiatives. Projects range from physical upgrades to fairgrounds and parks to the improvement of community centers.“Year after year we see terrific projects and community impact from FFA chapters and 4-H clubs across Missouri,” Director Chinn said. “This year is no different, and we are proud to support efforts that will make a difference in these communities for years to come.”The 2026 grant recipients are:FFA Chapters:<ul>
 <li>California FFA, Moniteau County</li><li>Otterville FFA, Cooper County</li><li>Memphis FFA, Scotland County</li><li>Elsberry FFA, Lincoln County</li><li>Willow Springs FFA, Howell County</li><li>West Plains FFA, Howell County</li><li>Dora FFA, Ozark County</li>
 </ul>4-H Clubs:<ul>
 <li>Show Me 4-H Club, Moniteau County</li><li>4 C’s 4-H Club, Cooper County</li><li>Liberty Leaders 4-H Club, Knox County</li><li>Shafter 4-H Club, Linn County</li><li>Foundation Creation 4-H Club, DeKalb County</li><li>Wranglers 4-H Club, DeKalb County</li><li>Drake 4-H Club, Gasconade County</li><li>Double S 4-H Club, Gasconade County</li><li>Patton 4-H Club, Bollinger County</li><li>Ripley County 4-H Club, Ripley County</li>
 </ul>Established in the 1970s, the BOAC program is funded through the Missouri Agriculture Development Fund via an agreement with the USDA. All selected projects must be completed by Aug. 1, 2026.

FFA and 4-H groups receive state grants

March corn closed down 2 1/2 cents and May corn was down 2 1/4 cents. March soybeans closed down 4 cents and May soybeans were down 4 1/2 cents. March KC wheat closed down 9 1/2 cents, March Chicago wheat was down 10 1/4 cents, March Minneapolis wheat was down 6 3/4 cents.

U.S. row-crop futures were lower to begin the new week and month with wheat prices leading the way on a combination of technical pressure as well as outside market pressure from a firm U.S. dollar and sharply lower energy prices as U.S. and Iranian officials are set to hold nuclear talks in Turkey this upcoming Friday in a path of de-escalation of tensions which had driven crude oil prices to their highest level in four months. Direct fundamental news for corn, soy, and wheat markets was limited on Monday, but a quick start to soybean harvesting and safrinha corn planting in Brazil over the latter half of January is likely at least part of the cause of bearishness in the markets to begin February.

Live cattle futures surged higher Monday following the bullish news from last week's cattle inventory report. The focus on overall reduction in all cattle numbers and 2025 calvings decreasing by 2% has continued to spark renewed buying support through early trade. Although contracts backed away from initial highs, the focus on strong early week gains is likely to keep buyers active through the rest of the early week trade. Cash cattle markets look to be a typically quiet Monday with both buyers and sellers busy taking inventory and preparing for the week ahead. Bids and asking prices have yet to be established, and if the trend of the last couple of weeks continues, significant trade volume will be delayed until much later in the week. Boxed beef prices are Higher: choice up $2.14 ($367.70) and select up $2.35 ($364.29) with a movement of 32.80 loads (20.27 loads of choice, 4.93 loads of select, 3.40 loads of trim and 4.20 loads of ground beef).

Feeder cattle futures were leading the market higher Monday, as renewed focus on tight supplies continues to be seen through the entire cattle complex. The announcement in Friday's cattle inventory report of a 2% drop in calves born during 2025 continues to not only leave current buyers actively looking for cattle to fill yards, but it indicates that the trend will not be changing any time soon. It will be interesting to see how active buyer support remains over the next couple of days and weeks following this bullish report. Although the report gives actual numbers to the market supply tightness, the fact is that the market has already factored in much of the tightness, and this will not change the overall expectations of the beef market over the upcoming months.

Lean hog futures moved actively higher Monday as well. Although the same dynamics seen in the cattle market are not seen in the hog complex, the spill-over bullish support from surging cattle markets and active outside market buying activity has helped to push nearby contracts to triple-digit gains during morning trade. Spot month February futures are holding 80 to 90 cent gains through most of the morning, but the rest of nearby contracts held strong triple-digit gains near $2 per cwt into the closing bell. Traders continue to not only gain spill-over support from any beef market support during the year, but continued gains in financial markets are helping to keep hog market traders actively buying in initial February trade.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/02/02142452/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed down 2 1/2 cents and May corn was down 2 1/4 cents. March soybeans closed down 4 cents and May soybeans were down 4 1/2 cents. March KC wheat closed down 9 1/2 cents, March Chicago wheat was down 10 1/4 cents, March Minneapolis wheat was down 6 3/4 cents.U.S. row-crop futures were lower to begin the new week and month with wheat prices leading the way on a combination of technical pressure as well as outside market pressure from a firm U.S. dollar and sharply lower energy prices as U.S. and Iranian officials are set to hold nuclear talks in Turkey this upcoming Friday in a path of de-escalation of tensions which had driven crude oil prices to their highest level in four months. Direct fundamental news for corn, soy, and wheat markets was limited on Monday, but a quick start to soybean harvesting and safrinha corn planting in Brazil over the latter half of January is likely at least part of the cause of bearishness in the markets to begin February.LIVESTOCK:Live cattle futures surged higher Monday following the bullish news from last week's cattle inventory report. The focus on overall reduction in all cattle numbers and 2025 calvings decreasing by 2% has continued to spark renewed buying support through early trade. Although contracts backed away from initial highs, the focus on strong early week gains is likely to keep buyers active through the rest of the early week trade. Cash cattle markets look to be a typically quiet Monday with both buyers and sellers busy taking inventory and preparing for the week ahead. Bids and asking prices have yet to be established, and if the trend of the last couple of weeks continues, significant trade volume will be delayed until much later in the week. Boxed beef prices are Higher: choice up $2.14 ($367.70) and select up $2.35 ($364.29) with a movement of 32.80 loads (20.27 loads of choice, 4.93 loads of select, 3.40 loads of trim and 4.20 loads of ground beef).Feeder cattle futures were leading the market higher Monday, as renewed focus on tight supplies continues to be seen through the entire cattle complex. The announcement in Friday's cattle inventory report of a 2% drop in calves born during 2025 continues to not only leave current buyers actively looking for cattle to fill yards, but it indicates that the trend will not be changing any time soon. It will be interesting to see how active buyer support remains over the next couple of days and weeks following this bullish report. Although the report gives actual numbers to the market supply tightness, the fact is that the market has already factored in much of the tightness, and this will not change the overall expectations of the beef market over the upcoming months. Lean hog futures moved actively higher Monday as well. Although the same dynamics seen in the cattle market are not seen in the hog complex, the spill-over bullish support from surging cattle markets and active outside market buying activity has helped to push nearby contracts to triple-digit gains during morning trade. Spot month February futures are holding 80 to 90 cent gains through most of the morning, but the rest of nearby contracts held strong triple-digit gains near $2 per cwt into the closing bell. Traders continue to not only gain spill-over support from any beef market support during the year, but continued gains in financial markets are helping to keep hog market traders actively buying in initial February trade.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/02/02142452/web-closing-markets.mp3">Click HERE for audio</a>

GT Thompson, the chair of the House Agriculture Committee, has tentatively set a farm bill markup for the week of February 23. That’s according to three sources familiar with Thompson’s plans. While the formal text of his farm bill has yet to be introduced, it will likely have the same priorities as the version that advanced out of committee in 2024 but never became law. “Committee staff is still waiting for the cost estimates from the Congressional Budget Office, which could delay the markup in February.” 

Two people who were granted anonymity to discuss private details said that House Ag Republicans want to get a floor vote on the farm bill before the Easter recess. The ‘Farm Bill 2.0,’ as Thompson refers to it, will address multiple industry priorities like rural development, research plans, and could be a vehicle for year-round E15. 

GT Thompson, the chair of the House Agriculture Committee, has tentatively set a farm bill markup for the week of February 23. That’s according to three sources familiar with Thompson’s plans. While the formal text of his farm bill has yet to be introduced, it will likely have the same priorities as the version that advanced out of committee in 2024 but never became law. “Committee staff is still waiting for the cost estimates from the Congressional Budget Office, which could delay the markup in February.” Two people who were granted anonymity to discuss private details said that House Ag Republicans want to get a floor vote on the farm bill before the Easter recess. The ‘Farm Bill 2.0,’ as Thompson refers to it, will address multiple industry priorities like rural development, research plans, and could be a vehicle for year-round E15. -NAFB

House ag chair wants 'Farm Bill 2.0' in February

The National Young Farmers Coalition expresses deep concern over the continued delay of the 2024 Tenure, Ownership, and Transition of Agricultural Land Survey, originally scheduled for release on October 31, 2025. The survey aims to provide important insights into the trends and patterns of ownership of agricultural land across the U.S. “Without the TOTAL Survey, we’re flying blind on one of the most urgent issues in agriculture, which is land access,” said Vanessa Garcia Polanco, the government relations director with the National Young Farmers Coalition. 

“This delay prevents policymakers, advocates, and farmers from understanding the scale of farmland loss, speculation, and consolidation, and from acting to keep farmers on the land.” Young Farmers calls on the administration to release the critical information they’re looking for, and they had planned to hold a congressional briefing upon the Survey’s release to discuss how the data should inform proactive federal policy. 

The National Young Farmers Coalition expresses deep concern over the continued delay of the 2024 Tenure, Ownership, and Transition of Agricultural Land Survey, originally scheduled for release on October 31, 2025. The survey aims to provide important insights into the trends and patterns of ownership of agricultural land across the U.S. “Without the TOTAL Survey, we’re flying blind on one of the most urgent issues in agriculture, which is land access,” said Vanessa Garcia Polanco, the government relations director with the National Young Farmers Coalition. “This delay prevents policymakers, advocates, and farmers from understanding the scale of farmland loss, speculation, and consolidation, and from acting to keep farmers on the land.” Young Farmers calls on the administration to release the critical information they’re looking for, and they had planned to hold a congressional briefing upon the Survey’s release to discuss how the data should inform proactive federal policy. -NAFB

Young Farmers concerned about land survey

March corn closed down 2 1/2 cents and May corn was down 3 1/4 cents. March soybeans closed down 8 cents and May soybeans were down 8 3/4 cents. March KC wheat closed down 2 1/4 cents, March Chicago wheat was down 3 1/2 cents, March Minneapolis wheat was down 3 1/4 cents.

Friday featured widespread selling pressure across ag and outside markets to close the week, with row crop futures posting moderate losses to close what was otherwise a mixed week for price action. Outside markets also saw profit taking with sharp moves lower for equity markets as well as a notable reversal in gold and silver. The U.S. dollar stabilized through the latter half of this week, with the recovery from four-year lows accelerated on Friday by money flow out of precious metals. Energy markets were also mixed on Friday after a firm week, adding another headwind to ag futures heading into the weekend.

The live cattle complex was truly a mixed bag heading into Friday's closing bell. Only the February live cattle contract traded higher, while the deferred contracts traded moderately lower as the market sits on pins and needles waiting for the industry's Cattle Inventory report to be released later this afternoon. It has been exciting to see some stronger trade develop in the fed cash cattle market, but unfortunately with traders knowing the big report is set to be released this afternoon, the strong developments in the cash market seem to be overlooked. Some light cash cattle trade developed in the South at $238 to $240, which is $3.00 to $5.00 higher than last week's weighted average. Some Northern dressed cattle trade developed at $375 to $378, which is $6.00 to $9.00 higher than last week's weighted average. Boxed beef prices were mixed: choice down $1.22 ($366.55) and select up $2.28 ($363.00) with a movement of 57 loads (38.15 loads of choice, 3.95 loads of select, 4.97 loads of trim and 9.61 loads of ground beef).

Between seeing the equity markets and live cattle contracts all fall lower, the feeder cattle contracts were following suit as most of the contracts traded $4.00 to $5.00 lower into Friday's close. There's a cloud of uncertainty that's seemed to overcome the entire marketplace, and currently seems to be ensuing the most havoc on the feeder cattle contracts.

While the cattle contracts sink back in anxiousness, the lean hog contracts at least traded higher in the market's deferred contracts, but the nearby contracts were following suit in a minor regression. It is helpful that midday pork cutout values were up over $2.00 higher -- showing strong continued consumer support.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/01/30140902/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed down 2 1/2 cents and May corn was down 3 1/4 cents. March soybeans closed down 8 cents and May soybeans were down 8 3/4 cents. March KC wheat closed down 2 1/4 cents, March Chicago wheat was down 3 1/2 cents, March Minneapolis wheat was down 3 1/4 cents.Friday featured widespread selling pressure across ag and outside markets to close the week, with row crop futures posting moderate losses to close what was otherwise a mixed week for price action. Outside markets also saw profit taking with sharp moves lower for equity markets as well as a notable reversal in gold and silver. The U.S. dollar stabilized through the latter half of this week, with the recovery from four-year lows accelerated on Friday by money flow out of precious metals. Energy markets were also mixed on Friday after a firm week, adding another headwind to ag futures heading into the weekend.LIVESTOCK:The live cattle complex was truly a mixed bag heading into Friday's closing bell. Only the February live cattle contract traded higher, while the deferred contracts traded moderately lower as the market sits on pins and needles waiting for the industry's Cattle Inventory report to be released later this afternoon. It has been exciting to see some stronger trade develop in the fed cash cattle market, but unfortunately with traders knowing the big report is set to be released this afternoon, the strong developments in the cash market seem to be overlooked. Some light cash cattle trade developed in the South at $238 to $240, which is $3.00 to $5.00 higher than last week's weighted average. Some Northern dressed cattle trade developed at $375 to $378, which is $6.00 to $9.00 higher than last week's weighted average. Boxed beef prices were mixed: choice down $1.22 ($366.55) and select up $2.28 ($363.00) with a movement of 57 loads (38.15 loads of choice, 3.95 loads of select, 4.97 loads of trim and 9.61 loads of ground beef).Between seeing the equity markets and live cattle contracts all fall lower, the feeder cattle contracts were following suit as most of the contracts traded $4.00 to $5.00 lower into Friday's close. There's a cloud of uncertainty that's seemed to overcome the entire marketplace, and currently seems to be ensuing the most havoc on the feeder cattle contracts.While the cattle contracts sink back in anxiousness, the lean hog contracts at least traded higher in the market's deferred contracts, but the nearby contracts were following suit in a minor regression. It is helpful that midday pork cutout values were up over $2.00 higher -- showing strong continued consumer support.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/01/30140902/web-closing-markets.mp3">Click HERE for audio</a>

Livestock and poultry producers across the Midwest are stepping up biosecurity measures as highly pathogenic avian influenza (HPAI) continues to circulate among wild birds and commercial flocks. The USDA confirmed additional detections in poultry operations this week, while state agriculture departments urged producers to limit farm traffic and monitor animals closely. According to the Centers for Disease Control and Prevention, the risk to the public remains low, though outbreaks continue to disrupt egg and poultry supplies. 

Reports say that egg prices remain volatile as producers depopulate affected flocks and rebuild inventories. Industry groups say supply recovery could take months, particularly for smaller producers with limited resources. Farm organizations warned that continued outbreaks could strain rural economies and add costs throughout the food chain. Federal and state officials said they are coordinating surveillance, indemnity payments and response efforts to limit further spread during peak migration season.

Livestock and poultry producers across the Midwest are stepping up biosecurity measures as highly pathogenic avian influenza (HPAI) continues to circulate among wild birds and commercial flocks. The USDA confirmed additional detections in poultry operations this week, while state agriculture departments urged producers to limit farm traffic and monitor animals closely. According to the Centers for Disease Control and Prevention, the risk to the public remains low, though outbreaks continue to disrupt egg and poultry supplies. Reports say that egg prices remain volatile as producers depopulate affected flocks and rebuild inventories. Industry groups say supply recovery could take months, particularly for smaller producers with limited resources. Farm organizations warned that continued outbreaks could strain rural economies and add costs throughout the food chain. Federal and state officials said they are coordinating surveillance, indemnity payments and response efforts to limit further spread during peak migration season.-NAFB

Midwest livestock producers monitor avian flu spread

Agricultural equipment manufacturers are taking a cautious outlook as lower crop prices and tight farm margins dampen new machinery demand. John Deere executives said recent earnings reflect softer equipment sales, particularly for large tractors and combines, citing reduced farmer purchasing power. USDA forecasts show net farm income declining from recent highs, largely due to weaker commodity prices. 

Dealers across the Midwest are carrying higher inventories as farmers delay upgrades. Analysts said elevated interest rates have also discouraged capital spending. Manufacturers are increasingly focusing on precision agriculture and aftermarket services as alternative revenue streams. Industry observers say equipment demand could rebound if commodity prices recover, but near-term uncertainty is prompting conservative outlooks across the sector.

Agricultural equipment manufacturers are taking a cautious outlook as lower crop prices and tight farm margins dampen new machinery demand. John Deere executives said recent earnings reflect softer equipment sales, particularly for large tractors and combines, citing reduced farmer purchasing power. USDA forecasts show net farm income declining from recent highs, largely due to weaker commodity prices. Dealers across the Midwest are carrying higher inventories as farmers delay upgrades. Analysts said elevated interest rates have also discouraged capital spending. Manufacturers are increasingly focusing on precision agriculture and aftermarket services as alternative revenue streams. Industry observers say equipment demand could rebound if commodity prices recover, but near-term uncertainty is prompting conservative outlooks across the sector.-NAFB

Ag equipment makers cautious as farm income pressures persist

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

Row crop futures again fell from their highest points early Thursday, with chart technicals influencing some selling amid a fundamental outlook for corn, soybeans, and wheat that continues to have plenty of bearish arguments to counter short-term bullish bursts. Outside markets on Thursday were again mostly supportive to ag futures, with a softer U.S. dollar for the sixth time in the past eight sessions. Meanwhile, crude oil and other energy markets were firm on heightened tensions between the U.S. and Iran.

Seeming to merely hold its breath waiting for some fed-cash cattle trade to develop, the live cattle contracts traded modestly lower, unwilling to advance any higher and pressure the market's resistance without first seeing what's going to develop fundamentally in the fed cash cattle market. A single bid is currently on the table in Nebraska at $232, but still no cattle have traded and asking prices aren't firmly established yet this week either. It's most likely that trade will be delayed until Friday.

Boxed beef prices are lower: choice down $0.21 ($369.53) and select down $3.19 ($360.38) with a movement of 67 loads (44.55 loads of choice, 4.73 loads of select, 8.87 loads of trim and 8.70 loads of ground beef).

The feeder cattle complex was a mixed bag in morning trade, as the nearby contracts were scaling higher while the market's deferred contracts were trailing slightly lower and ended the day like their live counterparts, modestly lower. The spot March feeder cattle contract is trading at the highest level it's been at since the market's sharp sell-off in late October.

With the help of a strong export sales report this morning, the lean hog complex got back to trading higher following Wednesday's lower close. It is also helpful from a technical standpoint, the market is no longer up against resistance thresholds, and from a fundamental standpoint that morning pork cutout values were a tick higher as well.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/01/29141654/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAIN:March corn closed up 3/4 cents and May corn was up 1 cent. March soybeans closed down 2 3/4 cents and May soybeans were down 2 cents. March KC wheat closed up 4 3/4 cents, March Chicago wheat was up 5 1/2 cents, March Minneapolis wheat was up 7 1/2 cents.Row crop futures again fell from their highest points early Thursday, with chart technicals influencing some selling amid a fundamental outlook for corn, soybeans, and wheat that continues to have plenty of bearish arguments to counter short-term bullish bursts. Outside markets on Thursday were again mostly supportive to ag futures, with a softer U.S. dollar for the sixth time in the past eight sessions. Meanwhile, crude oil and other energy markets were firm on heightened tensions between the U.S. and Iran.LIVESTOCK:Seeming to merely hold its breath waiting for some fed-cash cattle trade to develop, the live cattle contracts traded modestly lower, unwilling to advance any higher and pressure the market's resistance without first seeing what's going to develop fundamentally in the fed cash cattle market. A single bid is currently on the table in Nebraska at $232, but still no cattle have traded and asking prices aren't firmly established yet this week either. It's most likely that trade will be delayed until Friday.Boxed beef prices are lower: choice down $0.21 ($369.53) and select down $3.19 ($360.38) with a movement of 67 loads (44.55 loads of choice, 4.73 loads of select, 8.87 loads of trim and 8.70 loads of ground beef).The feeder cattle complex was a mixed bag in morning trade, as the nearby contracts were scaling higher while the market's deferred contracts were trailing slightly lower and ended the day like their live counterparts, modestly lower. The spot March feeder cattle contract is trading at the highest level it's been at since the market's sharp sell-off in late October.With the help of a strong export sales report this morning, the lean hog complex got back to trading higher following Wednesday's lower close. It is also helpful from a technical standpoint, the market is no longer up against resistance thresholds, and from a fundamental standpoint that morning pork cutout values were a tick higher as well.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/01/29141654/web-closing-markets.mp3">Click HERE for audio</a>

The Renewable Fuels Association applauded President Trump for strongly reaffirming his support for America’s ethanol industry. During a stop in Des Moines, Iowa, he called on Congress to send a bill approving year-round E15 to his desk “very quickly.” Trump said he would sign the bill into law without delay. RFA President and CEO Geoff Cooper said Trump understands the quickest and surest way to boost the farm economy is “to open a vast new market opportunity for grain-based ethanol.” 

The Iowa Corn Growers Association also applauded the president, saying they appreciate him for shining a light on E15. “He recognizes the weight this legislation holds to us as corn growers,” said ICGA President Steve Kuiper. “A recent study by Iowa Corn and the Iowa Renewable Fuels Association shared the positive effects year-round E15 would have on corn growers.” U.S. corn growers have pushed for year-round access for over ten years.

The Renewable Fuels Association applauded President Trump for strongly reaffirming his support for America’s ethanol industry. During a stop in Des Moines, Iowa, he called on Congress to send a bill approving year-round E15 to his desk “very quickly.” Trump said he would sign the bill into law without delay. RFA President and CEO Geoff Cooper said Trump understands the quickest and surest way to boost the farm economy is “to open a vast new market opportunity for grain-based ethanol.” The Iowa Corn Growers Association also applauded the president, saying they appreciate him for shining a light on E15. “He recognizes the weight this legislation holds to us as corn growers,” said ICGA President Steve Kuiper. “A recent study by Iowa Corn and the Iowa Renewable Fuels Association shared the positive effects year-round E15 would have on corn growers.” U.S. corn growers have pushed for year-round access for over ten years.-NAFB

Groups applaud President’s call for year-round E15

The Rural Mainstreet Index climbed above a growth-neutral score of 50.0 for January. That’s according to the latest monthly survey of bank CEO’s in rural areas of a ten-state region. The January index was at 52.0, its highest reading since July 2023, and up from December’s 50.1. “More than one in three bankers, or 34.7 percent, indicated that their local economy was currently in a recession,” said Dr. Ernie Goss of Creighton University. “Another 27 percent of them expect their local economy to experience recession conditions in the first half of 2026.” 

Regarding President Trump’s imposition of tariffs, almost 40 percent of the bankers support pulling back on tariffs. After rising above growth-neutral in December, the farm and ranchland index fell below the threshold in January with a reading of 46.0. The farm equipment sales index sank to a very weak 18.8, but was up from December’s even weaker 15.0. 

The Rural Mainstreet Index climbed above a growth-neutral score of 50.0 for January. That’s according to the latest monthly survey of bank CEO’s in rural areas of a ten-state region. The January index was at 52.0, its highest reading since July 2023, and up from December’s 50.1. “More than one in three bankers, or 34.7 percent, indicated that their local economy was currently in a recession,” said Dr. Ernie Goss of Creighton University. “Another 27 percent of them expect their local economy to experience recession conditions in the first half of 2026.” Regarding President Trump’s imposition of tariffs, almost 40 percent of the bankers support pulling back on tariffs. After rising above growth-neutral in December, the farm and ranchland index fell below the threshold in January with a reading of 46.0. The farm equipment sales index sank to a very weak 18.8, but was up from December’s even weaker 15.0. -NAFB

January Rural Mainstreet Index above growth neutral

March corn closed up 3 1/2 cents and May corn was up 3 1/4 cents. March soybeans closed up 7 3/4 cents and May soybeans were up 8 1/4 cents. March KC wheat closed up 9 1/2 cents, March Chicago wheat was up 12 3/4 cents, March Minneapolis wheat was up 2 1/4 cents.

Wheat futures again led the U.S. grain markets higher on Wednesday, putting in a double-digit move higher in Kansas City markets to the highest close in over two months. Corn and soybean futures were also higher, with corn futures catching an early burst of momentum following pro-E15 remarks by President Trump during his speech in Iowa on Tuesday, but eventually faded from daily highs amid a general lack of news to sustain prices. In outside markets, the U.S. dollar recovered after hitting four-year lows on Tuesday, but remains down sharply over the past week. Crude oil and other energy markets were firm as well and added a layer of support to ag markets at midweek.

The live cattle complex wasn't confident at the day's initial start, but the market had longer timeframe to trade, the complex grew stronger. The contracts pushed past the market's resistance and trending higher into the day's closing bell. It's somewhat questionable where traders were getting the additional support from this morning, as boxed beef prices were mixed and we've yet to see any trade in the fed cash cattle market. But maybe traders' confidence lies in the fact that they believe fed cash cattle prices will trade higher later this week and that Friday's Cattle Inventory report will be bullish. I hope all those claims come to fruit. At this point, no cash cattle trade has developed and both bids and asking prices remain elusive. Boxed beef prices are mixed: choice up $1.14 ($369.25) and select down $1.45 ($363.73) with a movement of 50 loads (31.60 loads of choice, 4.20 loads of select, 5.22 loads of trim and 8.48 loads of ground beef).

The feeder cattle complex was also trading higher into Wednesday's closing bell as the market finds it comforting to see the live cattle contracts trading in a positive manner. As long as the live cattle contracts maintain their upward momentum, it's likely that the feeder cattle contracts will as well.

The lean hog contracts were back to trading lower as the market seems to be facing some technical exhaustion after a significant rally over the last month. Thankfully, pork cutout values were still trading higher, so traders should find some support there, but for the meantime, the market's direction is lower.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/01/28143234/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed up 3 1/2 cents and May corn was up 3 1/4 cents. March soybeans closed up 7 3/4 cents and May soybeans were up 8 1/4 cents. March KC wheat closed up 9 1/2 cents, March Chicago wheat was up 12 3/4 cents, March Minneapolis wheat was up 2 1/4 cents.Wheat futures again led the U.S. grain markets higher on Wednesday, putting in a double-digit move higher in Kansas City markets to the highest close in over two months. Corn and soybean futures were also higher, with corn futures catching an early burst of momentum following pro-E15 remarks by President Trump during his speech in Iowa on Tuesday, but eventually faded from daily highs amid a general lack of news to sustain prices. In outside markets, the U.S. dollar recovered after hitting four-year lows on Tuesday, but remains down sharply over the past week. Crude oil and other energy markets were firm as well and added a layer of support to ag markets at midweek.LIVESTOCK:The live cattle complex wasn't confident at the day's initial start, but the market had longer timeframe to trade, the complex grew stronger. The contracts pushed past the market's resistance and trending higher into the day's closing bell. It's somewhat questionable where traders were getting the additional support from this morning, as boxed beef prices were mixed and we've yet to see any trade in the fed cash cattle market. But maybe traders' confidence lies in the fact that they believe fed cash cattle prices will trade higher later this week and that Friday's Cattle Inventory report will be bullish. I hope all those claims come to fruit. At this point, no cash cattle trade has developed and both bids and asking prices remain elusive. Boxed beef prices are mixed: choice up $1.14 ($369.25) and select down $1.45 ($363.73) with a movement of 50 loads (31.60 loads of choice, 4.20 loads of select, 5.22 loads of trim and 8.48 loads of ground beef).The feeder cattle complex was also trading higher into Wednesday's closing bell as the market finds it comforting to see the live cattle contracts trading in a positive manner. As long as the live cattle contracts maintain their upward momentum, it's likely that the feeder cattle contracts will as well.The lean hog contracts were back to trading lower as the market seems to be facing some technical exhaustion after a significant rally over the last month. Thankfully, pork cutout values were still trading higher, so traders should find some support there, but for the meantime, the market's direction is lower. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2026/01/28143234/web-closing-markets.mp3">Click HERE for audio</a>

Clean Fuels Alliance America sent a letter to President Donald Trump highlighting the biodiesel, renewable diesel, and sustainable aviation fuel industry’s contribution to U.S. energy security and rural prosperity. The President is embarking on visits across the country to highlight economic conditions. The letter emphasizes that the industry’s growth is at risk as farmers and fuel producers await regulatory rules, specifically the Renewable Fuel Standards for 2026 and 2027, and rules for the Section 45Z Clean Fuel Production Credit that were due under the prior administration.

“Our industry has made substantial investments to meet America’s demand for energy security and rural economic prosperity,” CFA wrote. “Our progress is threatened by delays in policy decisions that should have been made in the previous administration, and we’re hopeful you will quickly finalize these policies and secure your promise as the most pro-biofuel president in history.” 

Clean Fuels Alliance America sent a letter to President Donald Trump highlighting the biodiesel, renewable diesel, and sustainable aviation fuel industry’s contribution to U.S. energy security and rural prosperity. The President is embarking on visits across the country to highlight economic conditions. The letter emphasizes that the industry’s growth is at risk as farmers and fuel producers await regulatory rules, specifically the Renewable Fuel Standards for 2026 and 2027, and rules for the Section 45Z Clean Fuel Production Credit that were due under the prior administration.“Our industry has made substantial investments to meet America’s demand for energy security and rural economic prosperity,” CFA wrote. “Our progress is threatened by delays in policy decisions that should have been made in the previous administration, and we’re hopeful you will quickly finalize these policies and secure your promise as the most pro-biofuel president in history.” -NAFB

Clean Fuels Alliance wants 45Z rules finalized

Over 70 FFA student members serving as state officers in their respective states started the new year by exploring the history, culture, and agricultural practices of Spain through the National FFA’s International Leadership Seminar for State Officers. The Seminar is an annual program designed to develop awareness of global agriculture and enhance the cultural competency of student members. The traveling state officers help lead more than one million members in over 9,200 local FFA chapters in all 50 states, Puerto Rico, and the U.S. Virgin Islands. 

“During the trip, students had the opportunity to both demonstrate their knowledge and learn about diverse agriculture practices across the globe,” said Joe Martin, program specialist with the National FFA Organization. “These experiences overseas help state officers share the unique agriculture practices of Spain with members of their home state associations.” State officers on the trip came from Alaska, Delaware, Florida, Iowa, Missouri and multiple other states.  

Over 70 FFA student members serving as state officers in their respective states started the new year by exploring the history, culture, and agricultural practices of Spain through the National FFA’s International Leadership Seminar for State Officers. The Seminar is an annual program designed to develop awareness of global agriculture and enhance the cultural competency of student members. The traveling state officers help lead more than one million members in over 9,200 local FFA chapters in all 50 states, Puerto Rico, and the U.S. Virgin Islands. “During the trip, students had the opportunity to both demonstrate their knowledge and learn about diverse agriculture practices across the globe,” said Joe Martin, program specialist with the National FFA Organization. “These experiences overseas help state officers share the unique agriculture practices of Spain with members of their home state associations.” State officers on the trip came from Alaska, Delaware, Florida, Iowa, Missouri and multiple other states. -NAFB