When retail prices for any product reach record-high levels, the demand usually plummets quickly. U.S. beef appears to be the exception to the basic rule of economics. Retail grocery store prices for beef skyrocketed and show no signs of descending. But demand hasn’t softened. A new report from CoBank says the allure of beef, even at high prices, is likely the result of several factors currently shaping consumer buying behaviors. 

The all-fresh retail beef prices surged by nine percent, hitting $8.90 per pound. CoBank says improvements in beef quality and the increased availability of premium-grade cuts at retail have played a big role in driving demand. The U.S. beef industry is producing a much higher quality of product today than it did 30 years ago. Brian Earnst, lead animal protein analyst, says access to high-quality beef has never been better, and American consumers have developed a taste for it. 

When retail prices for any product reach record-high levels, the demand usually plummets quickly. U.S. beef appears to be the exception to the basic rule of economics. Retail grocery store prices for beef skyrocketed and show no signs of descending. But demand hasn’t softened. A new report from CoBank says the allure of beef, even at high prices, is likely the result of several factors currently shaping consumer buying behaviors. The all-fresh retail beef prices surged by nine percent, hitting $8.90 per pound. CoBank says improvements in beef quality and the increased availability of premium-grade cuts at retail have played a big role in driving demand. The U.S. beef industry is producing a much higher quality of product today than it did 30 years ago. Brian Earnst, lead animal protein analyst, says access to high-quality beef has never been better, and American consumers have developed a taste for it. -NAFB

Consumers shrug off high beef prices

The Federal Reserve’s Ninth District in Minneapolis, Minnesota, has enjoyed good weather for crop production, but crop prices haven’t been friendly to farmers’ pocketbooks. A North Dakota farm lender told the Federal Reserve that, “High operating costs and lower grain prices are the biggest concerns.” Lenders responding to the second quarter Ag Credit Survey said farm incomes decreased across the Ninth District.

Lenders also reported that spending on capital equipment fell, and farm household purchases edged lower on balance. Around the district, 91 percent of the agricultural lenders said incomes decreased from April through June compared to the same period a year ago. With the weaker cash position, demand for loans rose sharply. Loan repayments also dropped, and loan renewal and extension activity increased. Interest rates for agricultural loans decreased slightly but remained high. Cropland values in the Ninth District were mixed, while cash rents dropped compared to last year. 

The Federal Reserve’s Ninth District in Minneapolis, Minnesota, has enjoyed good weather for crop production, but crop prices haven’t been friendly to farmers’ pocketbooks. A North Dakota farm lender told the Federal Reserve that, “High operating costs and lower grain prices are the biggest concerns.” Lenders responding to the second quarter Ag Credit Survey said farm incomes decreased across the Ninth District.Lenders also reported that spending on capital equipment fell, and farm household purchases edged lower on balance. Around the district, 91 percent of the agricultural lenders said incomes decreased from April through June compared to the same period a year ago. With the weaker cash position, demand for loans rose sharply. Loan repayments also dropped, and loan renewal and extension activity increased. Interest rates for agricultural loans decreased slightly but remained high. Cropland values in the Ninth District were mixed, while cash rents dropped compared to last year. -NAFB

Farm incomes dropping in Fed’s ninth district

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

Grains were mixed Tuesday as the brief price boost from Friday's supportive Pro Farmer yield estimates have seemingly grown stale as traders at this rate are chomping at the bit for field data to base their next price bets on. Outside markets were mixed on the news that President Trump plans to move ahead with firing of Fed Governor Lisa Cook. Equities treaded near even, while Treasury yields were a touch higher. Meanwhile, energy markets are correcting lower Tuesday, snapping a streak of positive sessions built primarily around Black Sea concerns.

The worry and concern that plagued Monday's live cattle market regarding the case where a traveler who was traveling abroad tested positive for New World screwworm in Maryland no longer seems to be at the forefront of the market's mind anymore. Currently, the October contract is trading at a new contract high as traders seem to be pressing onward aggressively and are encouraged to see boxed beef prices up as much as they are. Still no cash cattle trade has developed, but asking prices are noted in the South at $243, and remain unestablished in the North.

The feeder cattle complex was trading throughout the day with vengeance as the market gapped higher this morning and hasn't looked back since. And with the notable gain seen yesterday in feeder cattle sales across the country, the fundamental support is there for traders to make this kind of move.

Although morning pork cutout values were a tick lower, the lean hog complex challenged the market's resistance in the spot October contract, as currently, trader support is more than ample. There's a chance that with morning pork cutout values lower than traders could become weary at any point in time, but at this moment, support and stronger trends seem to be the market's trajectory.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/26154008/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed down 2 3/4 cents and March corn was down 3 1/4 cents. November soybeans closed up 1 3/4 cents and January soybeans were up 1 1/2 cents. December KC wheat closed down 3 cents, December Chicago wheat was up 2 cents, December Minneapolis wheat was down 2 3/4 cents.Grains were mixed Tuesday as the brief price boost from Friday's supportive Pro Farmer yield estimates have seemingly grown stale as traders at this rate are chomping at the bit for field data to base their next price bets on. Outside markets were mixed on the news that President Trump plans to move ahead with firing of Fed Governor Lisa Cook. Equities treaded near even, while Treasury yields were a touch higher. Meanwhile, energy markets are correcting lower Tuesday, snapping a streak of positive sessions built primarily around Black Sea concerns.LIVESTOCK:The worry and concern that plagued Monday's live cattle market regarding the case where a traveler who was traveling abroad tested positive for New World screwworm in Maryland no longer seems to be at the forefront of the market's mind anymore. Currently, the October contract is trading at a new contract high as traders seem to be pressing onward aggressively and are encouraged to see boxed beef prices up as much as they are. Still no cash cattle trade has developed, but asking prices are noted in the South at $243, and remain unestablished in the North.The feeder cattle complex was trading throughout the day with vengeance as the market gapped higher this morning and hasn't looked back since. And with the notable gain seen yesterday in feeder cattle sales across the country, the fundamental support is there for traders to make this kind of move.Although morning pork cutout values were a tick lower, the lean hog complex challenged the market's resistance in the spot October contract, as currently, trader support is more than ample. There's a chance that with morning pork cutout values lower than traders could become weary at any point in time, but at this moment, support and stronger trends seem to be the market's trajectory.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/26154008/web-closing-markets.mp3">Click HERE for audio</a>

Commodity markets daily recap

The Department of Health and Human Services reported the first human case of New World Screwworm in the U.S. The diagnosis was confirmed by the Centers for Disease Control. The disease appeared in a traveler who’d been returning to the U.S. from Central America, where the disease is already present. State veterinarians learned of the human case during a call last week with the CDC. 

Oklahoma State Veterinarian Dr. Rod Hall said the patient lives in Maryland, where officials said they’re confident it is contained. Dr. Hall added that he believes the U.S. is probably more likely to get it in a person or pet than in livestock, at least in the short term. South Dakota State Veterinarian Beth Thompson was quoted in a Reuters article as saying that when NWS was confirmed in Maryland, the CDC worked with local physicians to identify the larvae. No livestock movement restrictions are in place. 

The Department of Health and Human Services reported the first human case of New World Screwworm in the U.S. The diagnosis was confirmed by the Centers for Disease Control. The disease appeared in a traveler who’d been returning to the U.S. from Central America, where the disease is already present. State veterinarians learned of the human case during a call last week with the CDC. Oklahoma State Veterinarian Dr. Rod Hall said the patient lives in Maryland, where officials said they’re confident it is contained. Dr. Hall added that he believes the U.S. is probably more likely to get it in a person or pet than in livestock, at least in the short term. South Dakota State Veterinarian Beth Thompson was quoted in a Reuters article as saying that when NWS was confirmed in Maryland, the CDC worked with local physicians to identify the larvae. No livestock movement restrictions are in place. -NAFB

Human case of New World Screwworm confirmed in the U.S.

Cattle and calves on feed for the slaughter market in the United States for feedlots with a capacity of 1,000 or more head totaled 10.9 million head on August 1st. That was two percent below the mark in 2024, and in line with pre-report trade estimates of 98.1 percent. Reports show the August 1 level is an eight-year low. 

The state-by-state breakdown showed a steady increase across most of the states, but compared to a year ago, the Southern feedlots were well below 2024 levels. That’s because of the closure of the Southern U.S. border to Mexican feeder imports. The northern feeder areas were said to be above year-ago levels. Texas placements were at 75 percent of last year, Colorado was 76 percent, Nebraska was at 98 percent, while Kansas and Iowa were at 102 and 118 percent, respectively. Feedlot placements in July were 1.6 million head, six percent below last year. 

Cattle and calves on feed for the slaughter market in the United States for feedlots with a capacity of 1,000 or more head totaled 10.9 million head on August 1st. That was two percent below the mark in 2024, and in line with pre-report trade estimates of 98.1 percent. Reports show the August 1 level is an eight-year low. The state-by-state breakdown showed a steady increase across most of the states, but compared to a year ago, the Southern feedlots were well below 2024 levels. That’s because of the closure of the Southern U.S. border to Mexican feeder imports. The northern feeder areas were said to be above year-ago levels. Texas placements were at 75 percent of last year, Colorado was 76 percent, Nebraska was at 98 percent, while Kansas and Iowa were at 102 and 118 percent, respectively. Feedlot placements in July were 1.6 million head, six percent below last year. -NAFB

U.S. cattle on feed down two percent

September corn closed up 1 cent and December corn was up 3/4 cent. September soybeans closed down 11 cents and November soybeans were down 10 3/4 cents. September KC wheat closed down 1 1/4 cents, September Chicago wheat was up 2 cents, September Minneapolis wheat was up 3 1/2 cents.

Markets were firm for the most part out of the gate to begin the new week Sunday evening, but prices eventually faded from highs through the Monday day session. Despite some recent reasons for bullishness, traders remain cautious of the potential for very large U.S. crops this fall. In outside markets, equities relaxed to start the week following Friday's Fed-related rally. Meanwhile, energy markets are continuing their rally from late last week primarily driven as peace discussions between Russia and Ukraine are thus far nonexistent following the Trump/Putin Summit ten days ago.

It's was a tumultuous morning for the live cattle complex as news broke over the weekend from the CDC that a person traveling abroad in Maryland was infected with New World screwworm. The news obviously affected the cattle complex dramatically as strict measures have been taken with cattle imports to avoid the spread into the U.S., but thinking that it would be carried into the US through a human wasn't on most people's radar. And although the news regarding the positive case of New World screwworm has most affected the marketplace, it hasn't helped matters either that the market received a neutral to somewhat bearish Cattle on Feed report last week, as most analysts thought placements would be lighter than what they were. New showlists appear to be lower in all major feeding areas.

The feeder cattle complex was traded mostly lower as traders are uncertain what to do with the complex following the CDC's announcement. The contracts were trading close to their limit lower this morning, but then recovered a bulk of the position and at the closing bell only trading mildly lower.

The lean hog complex had a prosperous morning as the contracts traded fully higher. It was helpful to see pork cutout values were stronger again this morning -- but that's mainly because of the continued aggressive rally in the picnic, which was up $8.75.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/25144723/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:September corn closed up 1 cent and December corn was up 3/4 cent. September soybeans closed down 11 cents and November soybeans were down 10 3/4 cents. September KC wheat closed down 1 1/4 cents, September Chicago wheat was up 2 cents, September Minneapolis wheat was up 3 1/2 cents.Markets were firm for the most part out of the gate to begin the new week Sunday evening, but prices eventually faded from highs through the Monday day session. Despite some recent reasons for bullishness, traders remain cautious of the potential for very large U.S. crops this fall. In outside markets, equities relaxed to start the week following Friday's Fed-related rally. Meanwhile, energy markets are continuing their rally from late last week primarily driven as peace discussions between Russia and Ukraine are thus far nonexistent following the Trump/Putin Summit ten days ago.LIVESTOCK:It's was a tumultuous morning for the live cattle complex as news broke over the weekend from the CDC that a person traveling abroad in Maryland was infected with New World screwworm. The news obviously affected the cattle complex dramatically as strict measures have been taken with cattle imports to avoid the spread into the U.S., but thinking that it would be carried into the US through a human wasn't on most people's radar. And although the news regarding the positive case of New World screwworm has most affected the marketplace, it hasn't helped matters either that the market received a neutral to somewhat bearish Cattle on Feed report last week, as most analysts thought placements would be lighter than what they were. New showlists appear to be lower in all major feeding areas.The feeder cattle complex was traded mostly lower as traders are uncertain what to do with the complex following the CDC's announcement. The contracts were trading close to their limit lower this morning, but then recovered a bulk of the position and at the closing bell only trading mildly lower.The lean hog complex had a prosperous morning as the contracts traded fully higher. It was helpful to see pork cutout values were stronger again this morning -- but that's mainly because of the continued aggressive rally in the picnic, which was up $8.75.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/25144723/web-closing-markets.mp3">Click HERE for audio</a>

Farm groups are warning the White House that the tariff war is making already high fertilizer prices worse. That’s making it harder for farmers to afford to plant their typical amounts of corn, soybeans, and wheat. Reports show that ag industry representatives have hesitated to publicly criticize President Trump’s tariff policies, but some have spent recent months quietly lobbying lawmakers and administration officials to ease the impact on fertilizer prices, which can make up over 30 percent of the input costs for row crop farmers. 

A recent letter from the National Corn Growers Association to administration officials like U.S. Trade Representative Jamieson Greer said fertilizer prices are approaching disastrous levels. When the president took office in January, the average tariff rate on all the key farmer inputs jumped from under 1 percent to well over 12 percent in August. Some inputs, like pesticides, have risen by 20 percent or more since January.

Farm groups are warning the White House that the tariff war is making already high fertilizer prices worse. That’s making it harder for farmers to afford to plant their typical amounts of corn, soybeans, and wheat. Reports show that ag industry representatives have hesitated to publicly criticize President Trump’s tariff policies, but some have spent recent months quietly lobbying lawmakers and administration officials to ease the impact on fertilizer prices, which can make up over 30 percent of the input costs for row crop farmers. A recent letter from the National Corn Growers Association to administration officials like U.S. Trade Representative Jamieson Greer said fertilizer prices are approaching disastrous levels. When the president took office in January, the average tariff rate on all the key farmer inputs jumped from under 1 percent to well over 12 percent in August. Some inputs, like pesticides, have risen by 20 percent or more since January.-NAFB

Farmers feeling the fertilizer price squeeze

Farmers throughout the region are invited to join Northwest Missouri State University and its School of Agricultural Sciences in collaboration with BioSTL for its 2025 AgTech Innovation Showcase to connect farmers and innovators in the ag industry. The program is 9 a.m. to 3 p.m. Thursday, Sept. 4, at Northwest’s&nbsp;Agricultural Learning Center, located at 22893 U.S. Highway 71 in Maryville.

BioSTL, a St.&nbsp;Louis nonprofit launched in 2001, offers a comprehensive set of programs aimed at solving challenges in agriculture, medicine, health care and technology.&nbsp;For agriculture professionals, BioSTL’s Early Adopter Grower Innovation Community (EAGIC) program provides a pathway for innovation to reach&nbsp;farmers, using domestic and global networks to find solutions that meet the needs of farmers.

The showcase will feature speakers and explore topics including AI-enabled and data-driven farm tools; biological, fertilizer and soil health solutions; equipment and farm input innovations; and animal science technologies. Attendees will receive a complimentary lunch.

By: NATHAN STUEDLEFarmers throughout the region are invited to join Northwest Missouri State University and its School of Agricultural Sciences in collaboration with BioSTL for its 2025 AgTech Innovation Showcase to connect farmers and innovators in the ag industry. The program is 9 a.m. to 3 p.m. Thursday, Sept. 4, at Northwest’s&nbsp;Agricultural Learning Center, located at 22893 U.S. Highway 71 in Maryville.BioSTL, a St.&nbsp;Louis nonprofit launched in 2001, offers a comprehensive set of programs aimed at solving challenges in agriculture, medicine, health care and technology.&nbsp;For agriculture professionals, BioSTL’s Early Adopter Grower Innovation Community (EAGIC) program provides a pathway for innovation to reach&nbsp;farmers, using domestic and global networks to find solutions that meet the needs of farmers.The showcase will feature speakers and explore topics including AI-enabled and data-driven farm tools; biological, fertilizer and soil health solutions; equipment and farm input innovations; and animal science technologies. Attendees will receive a complimentary lunch.

Northwest hosting farmers, ag experts for ‘Innovation Showcase’

December corn closed down 1/4 cent per bushel at $4.11 1/2 and March corn was down 1 cent at $4.28 3/4. November soybeans closed up 2 1/2 cents at $10.58 1/2 and January soybeans were up 3 1/4 cents at $10.77. December KC wheat closed down 5 cents at $5.21, December Chicago wheat was down 2 1/2 cents at $5.27 1/4 and December Minneapolis wheat was unchanged cents at $5.90.

December corn finished 6 1/4 cents higher at $4.11 1/2. March corn also finished 6 1/4 cents higher at $4.28 3/4. November beans rose 16 cents for the week at $10.58 1/2 and January beans finished up 15 1/2 cents at $10.77. Kansas City September closed down 9 at $4.98, Chicago September finished down 1 3/4, and Minneapolis December finished up .0075 at $5.90.

Soybeans got a boost and rose for the second straight day. Although pod counts are being reported as record large in several key states, it is the drier outlook ahead that has traders buying. Also supportive for soybeans was the bean oil strength and the EPA decision to grant full waivers for only 63 of the petitions with partial waivers and some not approved at all. Wheat and corn flirted with both sides in slow trade Friday.

The live cattle complex continued to trade higher and higher as support remains plentiful for the market. Boxed beef demand has been stellar this week, and although we'd just seen a small trading thus far in the fed cash cattle complex, prices have been higher in the North. It's normal for traders to pull the contracts back somewhat ahead of the release of the monthly Cattle on Feed report, but at this point, it's looking like there's enough support in the marketplace to ease traders' nervousness about the report to continue to push the contracts higher.

A new day, and another new contract high summarizes the feeder cattle complex at this point. It will be interesting to note what happens on the monthly Cattle on Feed report as placements are expected to be lighter than a year ago, but how much lighter once again remains the question to be answered. It's been an incredible week for the feeder cattle complex as the market has been able to close higher every single day.

The lean hog complex made a late-week rally as the nearby contracts were successful trading upward of $1.00 higher into Friday's noon hour. Some of the market's support is stemming from the strong fundamental showing late in the week, but more than that, it seems that traders have regained their confidence, as fundamental support throughout the week has been spotty.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/22143712/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed down 1/4 cent per bushel at $4.11 1/2 and March corn was down 1 cent at $4.28 3/4. November soybeans closed up 2 1/2 cents at $10.58 1/2 and January soybeans were up 3 1/4 cents at $10.77. December KC wheat closed down 5 cents at $5.21, December Chicago wheat was down 2 1/2 cents at $5.27 1/4 and December Minneapolis wheat was unchanged cents at $5.90.For the Week:December corn finished 6 1/4 cents higher at $4.11 1/2. March corn also finished 6 1/4 cents higher at $4.28 3/4. November beans rose 16 cents for the week at $10.58 1/2 and January beans finished up 15 1/2 cents at $10.77. Kansas City September closed down 9 at $4.98, Chicago September finished down 1 3/4, and Minneapolis December finished up .0075 at $5.90.Soybeans got a boost and rose for the second straight day. Although pod counts are being reported as record large in several key states, it is the drier outlook ahead that has traders buying. Also supportive for soybeans was the bean oil strength and the EPA decision to grant full waivers for only 63 of the petitions with partial waivers and some not approved at all. Wheat and corn flirted with both sides in slow trade Friday.LIVESTOCK:The live cattle complex continued to trade higher and higher as support remains plentiful for the market. Boxed beef demand has been stellar this week, and although we'd just seen a small trading thus far in the fed cash cattle complex, prices have been higher in the North. It's normal for traders to pull the contracts back somewhat ahead of the release of the monthly Cattle on Feed report, but at this point, it's looking like there's enough support in the marketplace to ease traders' nervousness about the report to continue to push the contracts higher. A new day, and another new contract high summarizes the feeder cattle complex at this point. It will be interesting to note what happens on the monthly Cattle on Feed report as placements are expected to be lighter than a year ago, but how much lighter once again remains the question to be answered. It's been an incredible week for the feeder cattle complex as the market has been able to close higher every single day.The lean hog complex made a late-week rally as the nearby contracts were successful trading upward of $1.00 higher into Friday's noon hour. Some of the market's support is stemming from the strong fundamental showing late in the week, but more than that, it seems that traders have regained their confidence, as fundamental support throughout the week has been spotty.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/22143712/web-closing-markets.mp3">Click HERE for audio</a>

Ag Secretary Brooke Rollins said the USDA will no longer fund taxpayer dollars for solar panels on productive farmland or allow solar panels manufactured by foreign adversaries to be used in USDA projects. Subsidized solar farms have made it more difficult for farmers to access farmland by making it more expensive and less available. Within the last 30 years, Tennessee alone has lost over 1.2 million acres of farmland and is expected to lose two million acres by 2027. 

This problem isn’t just in Tennessee, because, since 2012, solar panels on farmland nationwide have increased by almost 50 percent. That’s why the Department took action. “Our prime farmland should not be wasted and replaced with Green New Deal-subsidized solar panels,” Rollins said. “One of the biggest barriers to entry for new and young farmers is access to land, and subsidized solar farms are making land much more expensive and less available.” 

Ag Secretary Brooke Rollins said the USDA will no longer fund taxpayer dollars for solar panels on productive farmland or allow solar panels manufactured by foreign adversaries to be used in USDA projects. Subsidized solar farms have made it more difficult for farmers to access farmland by making it more expensive and less available. Within the last 30 years, Tennessee alone has lost over 1.2 million acres of farmland and is expected to lose two million acres by 2027. This problem isn’t just in Tennessee, because, since 2012, solar panels on farmland nationwide have increased by almost 50 percent. That’s why the Department took action. “Our prime farmland should not be wasted and replaced with Green New Deal-subsidized solar panels,” Rollins said. “One of the biggest barriers to entry for new and young farmers is access to land, and subsidized solar farms are making land much more expensive and less available.” -NAFB

Rollins blocks taxpayer dollars for solar panels on prime farmland

The U.S. and the European Union announced that they’ve agreed on a Framework of an Agreement on Reciprocal, Fair, and Balanced Trade. Among the key terms, the EU intends to eliminate tariffs on all U.S. industrial goods and provide preferential market access for a wide range of U.S. seafood and agricultural goods, including dairy products, fresh and processed fruits and vegetables, soybean oil, pork, and other products. 

The U.S. commits to applying the higher of either the U.S. Most Favored Nation Tariff Rate or a tariff rate of 15 percent, comprised of the MFN tariff and a reciprocal tariff, on originating goods from the European Union. Among some of the other commitments, the U.S. and EU share one of the world’s largest economic relationships. European companies commit to invest an additional $600 billion across strategic U.S. sectors through 2028. They’ll also work to eliminate tariff and non-tariff barriers. 

The U.S. and the European Union announced that they’ve agreed on a Framework of an Agreement on Reciprocal, Fair, and Balanced Trade. Among the key terms, the EU intends to eliminate tariffs on all U.S. industrial goods and provide preferential market access for a wide range of U.S. seafood and agricultural goods, including dairy products, fresh and processed fruits and vegetables, soybean oil, pork, and other products. The U.S. commits to applying the higher of either the U.S. Most Favored Nation Tariff Rate or a tariff rate of 15 percent, comprised of the MFN tariff and a reciprocal tariff, on originating goods from the European Union. Among some of the other commitments, the U.S. and EU share one of the world’s largest economic relationships. European companies commit to invest an additional $600 billion across strategic U.S. sectors through 2028. They’ll also work to eliminate tariff and non-tariff barriers. -NAFB

U.S. and E.U. issue a joint statement on trade framework

December corn closed up 7 3/4 cents per bushel at $4.11 3/4 and March corn was up 7 3/4 cents at $4.26 3/4. November soybeans closed up 20 cents at $10.56 0/1 and January soybeans were up 18 1/2 cents at $10.73 3/4. December KC wheat closed up 2 3/4 cents at $5.26, December Chicago wheat was up 1 1/2 cents at $5.29 3/4 and December Minneapolis wheat was up 0.02 cents at $5.9100.

Both the corn and soy markets surged Thursday as the next 10 days holds a dry outlook for the Eastern Corn Belt and crop tour participants are finding diseases more prevalent than thought. Soybean oil rallied ahead of what is expected to be a decision on small refinery exemptions soon. Wheat markets were along for the ride in two-sided trade but in the end finished mixed to slightly higher.

Following Wednesday's massive surge in the futures complex, the live cattle complex&nbsp;traded mostly steady, seeming unsure of what it should do next. It remains incredibly supportive that boxed beef prices are continuing to trend higher, but the market has yet to really see what this week's trend is going to be in the fed cash cattle complex. There's been a light movement in the North at $245, which is steady to a tick higher than last week's weighted average, but the market hasn't seen enough trade, or any trade in the South, to say that it confidently knows what this week's trend is going to be. Regardless, it's anticipated that prices will trade at least steady if not a bit higher again this week simply because feedlot managers possess enough leverage in the marketplace to be able to roll their showlists over if prices aren't what they want. From a technical standpoint, it's impressive to see that futures contracts are trading mostly steady as traders want to support the complex more but also don't want to overdo anything.

The feeder cattle complex&nbsp;continued to trade mostly higher into Thursday's close after a rough start to the session, as traders are seeing plenty of support. Support from feeder cattle sales in the countryside, support from strong boxed beef demand, support from the light movement that the fed cash cattle complex has seen already this week, and, as of this point this week, total support from traders.

Although pork cutout values were down slightly, and the week's export report wasn't overly supportive, the lean hog complex traded mostly higher into Thursday's closing bell as traders have seemed to find some footing in the futures complex. The bulk of this week's cash hog trade is likely done, so any fundamental support is going to need to come from cutout values, and this morning the carcass price was down slightly.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/21152506/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 7 3/4 cents per bushel at $4.11 3/4 and March corn was up 7 3/4 cents at $4.26 3/4. November soybeans closed up 20 cents at $10.56 0/1 and January soybeans were up 18 1/2 cents at $10.73 3/4. December KC wheat closed up 2 3/4 cents at $5.26, December Chicago wheat was up 1 1/2 cents at $5.29 3/4 and December Minneapolis wheat was up 0.02 cents at $5.9100.Both the corn and soy markets surged Thursday as the next 10 days holds a dry outlook for the Eastern Corn Belt and crop tour participants are finding diseases more prevalent than thought. Soybean oil rallied ahead of what is expected to be a decision on small refinery exemptions soon. Wheat markets were along for the ride in two-sided trade but in the end finished mixed to slightly higher.LIVESTOCK:Following Wednesday's massive surge in the futures complex, the live cattle complex&nbsp;traded mostly steady, seeming unsure of what it should do next. It remains incredibly supportive that boxed beef prices are continuing to trend higher, but the market has yet to really see what this week's trend is going to be in the fed cash cattle complex. There's been a light movement in the North at $245, which is steady to a tick higher than last week's weighted average, but the market hasn't seen enough trade, or any trade in the South, to say that it confidently knows what this week's trend is going to be. Regardless, it's anticipated that prices will trade at least steady if not a bit higher again this week simply because feedlot managers possess enough leverage in the marketplace to be able to roll their showlists over if prices aren't what they want. From a technical standpoint, it's impressive to see that futures contracts are trading mostly steady as traders want to support the complex more but also don't want to overdo anything.The feeder cattle complex&nbsp;continued to trade mostly higher into Thursday's close after a rough start to the session, as traders are seeing plenty of support. Support from feeder cattle sales in the countryside, support from strong boxed beef demand, support from the light movement that the fed cash cattle complex has seen already this week, and, as of this point this week, total support from traders. Although pork cutout values were down slightly, and the week's export report wasn't overly supportive, the lean hog complex traded mostly higher into Thursday's closing bell as traders have seemed to find some footing in the futures complex. The bulk of this week's cash hog trade is likely done, so any fundamental support is going to need to come from cutout values, and this morning the carcass price was down slightly.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/21152506/web-closing-markets.mp3">Click HERE for audio</a>

Local opposition to utility-scale solar installations in rural areas is growing following the rapid pace of new solar developments in recent years. Land use concerns in areas largely dominated by agricultural production are fueling much of the community-level resistance. A new CoBank report says solar expansion could deliver the fastest, most affordable means for increasing the nation’s razor-thin energy reserves while driving new revenue streams for rural communities. 

CoBank says concerns around the pace of solar development in rural areas and the implications for land use in agricultural regions are warranted. A recent independent study found that about 15 percent of U.S. counties have some form of restriction on building new utility-scale solar energy projects. American Farmland Trust says more than 80 percent of new solar development will take place on agricultural lands over the next 20 years, with almost half that development on what’s considered “prime” land. 

Local opposition to utility-scale solar installations in rural areas is growing following the rapid pace of new solar developments in recent years. Land use concerns in areas largely dominated by agricultural production are fueling much of the community-level resistance. A new CoBank report says solar expansion could deliver the fastest, most affordable means for increasing the nation’s razor-thin energy reserves while driving new revenue streams for rural communities. CoBank says concerns around the pace of solar development in rural areas and the implications for land use in agricultural regions are warranted. A recent independent study found that about 15 percent of U.S. counties have some form of restriction on building new utility-scale solar energy projects. American Farmland Trust says more than 80 percent of new solar development will take place on agricultural lands over the next 20 years, with almost half that development on what’s considered “prime” land. -NAFB

Can large-scale solar coexist with agriculture in rural America?

The 2022 Census of Agriculture Typology Report shows that family farms make up 95 percent of all U.S. farms. The report, released by the National Agricultural Statistics Service, focuses on the “family farm,” which is defined as any farm where the majority of the business is owned by the producer and individuals related to the producer. 

“Classifying America’s 1.9 million farms to better reflect their variety is critical to evaluating and reporting on U.S. agriculture,” said NASS Administrator Joseph Parson. “Typology allows us to more meaningfully explore the demographics of who is farming and ranching today as well as their impact on the economy and communities across the country.” The data shows that small family farms with income under $350,000 per year make up 85 percent of all U.S. farms. They also have 39 percent of the total land in farms, and 14 percent of the value of all agricultural products sold. 

The 2022 Census of Agriculture Typology Report shows that family farms make up 95 percent of all U.S. farms. The report, released by the National Agricultural Statistics Service, focuses on the “family farm,” which is defined as any farm where the majority of the business is owned by the producer and individuals related to the producer. “Classifying America’s 1.9 million farms to better reflect their variety is critical to evaluating and reporting on U.S. agriculture,” said NASS Administrator Joseph Parson. “Typology allows us to more meaningfully explore the demographics of who is farming and ranching today as well as their impact on the economy and communities across the country.” The data shows that small family farms with income under $350,000 per year make up 85 percent of all U.S. farms. They also have 39 percent of the total land in farms, and 14 percent of the value of all agricultural products sold. -NAFB

Family farms make up 95 percent of all U.S. Farms

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December corn closed up 3/4 cent per bushel at $4.04 and March corn was up 1 1/2 cents at $4.22. November soybeans closed up 2 1/4 cents at $10.36 0/1 and January soybeans were up 2 cents at $10.55 1/4. December KC wheat closed up 1 1/2 cents at $5.23 1/4, December Chicago wheat was up 7 cents at $5.28 1/4 and MIAX December Minneapolis wheat was up 0.02 cents at $5.8975.

The September U.S. Dollar Index is trading down 0.064 at 98.055. The Dow Jones Industrial Average is down 88.22 points at 44,834.05. December gold is up $29.30 at $3,388.00, September silver is up $0.44 at $37.77 and September copper is up $0.0050 at $4.4275. October crude oil is up $0.95 at $62.72, October heating oil is up $0.0297, October RBOB is up $0.0367 and September natural gas is down $0.016.

Corn futures were quietly higher Wednesday in slow trade, rejecting early weakness to finish higher. Reports from the ongoing Midwest annual crop tour showed more good numbers with record pod counts in Nebraska soy and higher corn yields and record ear counts in Indiana. However, there were some weather issues and tour participants found tip back on western and northern Illinois fields Wednesday, so perhaps some strength came from that. However, it is likely both Illinois and especially Iowa will show record potential when done. Some rust is being found in Kansas, Nebraska and Iowa fields, which could have a small impact on yield. Corn demand continues to be very good with two more sales to Colombia and Mexico announced on Wednesday amounting to 9 million bushels (mb). Corn sales and inspections continue to run at a solid pace, However, with Brazil's safrinha corn harvest nearing the finish line, they have become much more aggressive in selling corn, with shipping firm ANEC reporting Brazil would ship over 8 million metric tons (mmt) in August, 1.5 mmt higher than a year ago. IN EIA's weekly petroleum report ethanol production slipped 2% lower at 1.072 million barrels per day while stocks remained steady. Word from the University of Illinois is that the breakeven cost on corn, depending on the area, ranges from $4.64 to $4.94 with futures sitting at $4.06 currently. Funds remain net-short corn to the tune of 160,000 contracts. DTN's National Corn Index is $3.61 and 19 cents under the September futures.

Soybeans were modestly higher Wednesday, drawing strength from the continuing rally in soybean meal. It is being reported that not only are funds covering some of their sizeable meal short, but traders are also unwinding September-October spreads, which has moved that from a $4.00 carry to a $2.00 inverse. Bean oil continues to show weakness with September threatening to fill an open chart gap left following the June announcement of the increased RVOs for biodiesel. Tour participants are finding record pod counts in many areas such as Nebraska and are hinting at the potential for record soy yields. Unlike corn, demand is not keeping pace with the expectation for increased supply. The ongoing tariff battle with China has sent them on a buying spree from Brazil all the way into November, and at close to a $1.00 premium to U.S. FOB beans. While China would typically take anywhere from 2 mmt to 8 mmt of U.S. new-crop beans by mid-August, with the 23% tariff they imposed on U.S. beans they have bought zero so far. China's July soy imports from Brazil jumped 14% from the previous year to 10.4 mmt. The American Soybean Association is urging the Trump administration to get a grain deal with China soon or many farmers would face financial hardship. The weather forecast is mostly dry this week until the weekend when we will see rain in the western Midwest. The soy crop will need some finishing rain to solidify record yields. DTN's National Soybean Index is $9.67 and 67 under the November futures.

Wheat markets began Wednesday by falling to new contract lows, but each market recovered to finish higher, with Chicago leading the way. Both the KC and Chicago markets had become extremely oversold and due for a bounce. It is being reported that FOB soft red wheat had become so cheap at the Gulf and more than $10 below FOB Russian wheat that it has drawn some Asian interest. Growing supplies and aggressive marketing from other major wheat exporters, especially Russia and the EU, have pressured wheat lately. In other news, the U.S. spring wheat harvest is advancing and as of Sunday was over 36% done. Tenders include Bangladesh for 50,000 mt of optional milling wheat and Taiwan is tendering for over 90,000 mt of U.S. milling wheat. Jordan passed on its tender for 120,000 mt of milling wheat. Funds remain short both KC and Chicago wheat. DTN's National HRW Index is $4.50 and 50 cents under the September futures.

By MATT PIKEClick <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/20142159/30001-230-markets.wav">HERE</a> to listen to the closing marketsGENERAL COMMENTS:December corn closed up 3/4 cent per bushel at $4.04 and March corn was up 1 1/2 cents at $4.22. November soybeans closed up 2 1/4 cents at $10.36 0/1 and January soybeans were up 2 cents at $10.55 1/4. December KC wheat closed up 1 1/2 cents at $5.23 1/4, December Chicago wheat was up 7 cents at $5.28 1/4 and MIAX December Minneapolis wheat was up 0.02 cents at $5.8975.The September U.S. Dollar Index is trading down 0.064 at 98.055. The Dow Jones Industrial Average is down 88.22 points at 44,834.05. December gold is up $29.30 at $3,388.00, September silver is up $0.44 at $37.77 and September copper is up $0.0050 at $4.4275. October crude oil is up $0.95 at $62.72, October heating oil is up $0.0297, October RBOB is up $0.0367 and September natural gas is down $0.016.CORN:Corn futures were quietly higher Wednesday in slow trade, rejecting early weakness to finish higher. Reports from the ongoing Midwest annual crop tour showed more good numbers with record pod counts in Nebraska soy and higher corn yields and record ear counts in Indiana. However, there were some weather issues and tour participants found tip back on western and northern Illinois fields Wednesday, so perhaps some strength came from that. However, it is likely both Illinois and especially Iowa will show record potential when done. Some rust is being found in Kansas, Nebraska and Iowa fields, which could have a small impact on yield. Corn demand continues to be very good with two more sales to Colombia and Mexico announced on Wednesday amounting to 9 million bushels (mb). Corn sales and inspections continue to run at a solid pace, However, with Brazil's safrinha corn harvest nearing the finish line, they have become much more aggressive in selling corn, with shipping firm ANEC reporting Brazil would ship over 8 million metric tons (mmt) in August, 1.5 mmt higher than a year ago. IN EIA's weekly petroleum report ethanol production slipped 2% lower at 1.072 million barrels per day while stocks remained steady. Word from the University of Illinois is that the breakeven cost on corn, depending on the area, ranges from $4.64 to $4.94 with futures sitting at $4.06 currently. Funds remain net-short corn to the tune of 160,000 contracts. DTN's National Corn Index is $3.61 and 19 cents under the September futures.SOYBEANS:Soybeans were modestly higher Wednesday, drawing strength from the continuing rally in soybean meal. It is being reported that not only are funds covering some of their sizeable meal short, but traders are also unwinding September-October spreads, which has moved that from a $4.00 carry to a $2.00 inverse. Bean oil continues to show weakness with September threatening to fill an open chart gap left following the June announcement of the increased RVOs for biodiesel. Tour participants are finding record pod counts in many areas such as Nebraska and are hinting at the potential for record soy yields. Unlike corn, demand is not keeping pace with the expectation for increased supply. The ongoing tariff battle with China has sent them on a buying spree from Brazil all the way into November, and at close to a $1.00 premium to U.S. FOB beans. While China would typically take anywhere from 2 mmt to 8 mmt of U.S. new-crop beans by mid-August, with the 23% tariff they imposed on U.S. beans they have bought zero so far. China's July soy imports from Brazil jumped 14% from the previous year to 10.4 mmt. The American Soybean Association is urging the Trump administration to get a grain deal with China soon or many farmers would face financial hardship. The weather forecast is mostly dry this week until the weekend when we will see rain in the western Midwest. The soy crop will need some finishing rain to solidify record yields. DTN's National Soybean Index is $9.67 and 67 under the November futures.WHEAT:Wheat markets began Wednesday by falling to new contract lows, but each market recovered to finish higher, with Chicago leading the way. Both the KC and Chicago markets had become extremely oversold and due for a bounce. It is being reported that FOB soft red wheat had become so cheap at the Gulf and more than $10 below FOB Russian wheat that it has drawn some Asian interest. Growing supplies and aggressive marketing from other major wheat exporters, especially Russia and the EU, have pressured wheat lately. In other news, the U.S. spring wheat harvest is advancing and as of Sunday was over 36% done. Tenders include Bangladesh for 50,000 mt of optional milling wheat and Taiwan is tendering for over 90,000 mt of U.S. milling wheat. Jordan passed on its tender for 120,000 mt of milling wheat. Funds remain short both KC and Chicago wheat. DTN's National HRW Index is $4.50 and 50 cents under the September futures.

Farm Credit System Institutions made more than 150,000 loans to young, beginning, and small U.S. producers in 2024. A new Farm Credit Administration Report shows the institutional support for its ongoing mission of supporting rural communities and agriculture. “The future of agriculture depends on the next generation,” said Christy Seyfert, president and CEO of the Farm Credit Council. “We’re proud to deliver on our ongoing commitment to supporting young, beginning, and small producers as evidenced through this report.” 

During 2024, Farm Credit institutions made the 150,000 loans, totaling $33.1 billion, which was more than half of all loans made last year. Through 2024, Farm Credit supported over 50,000 loans to young producers who were 35 and under. More than 72,000 loans were made to beginning producers with ten years or less of experience, and 121,000 loans to producers with under $350,000 in gross cash farm income. 

Farm Credit System Institutions made more than 150,000 loans to young, beginning, and small U.S. producers in 2024. A new Farm Credit Administration Report shows the institutional support for its ongoing mission of supporting rural communities and agriculture. “The future of agriculture depends on the next generation,” said Christy Seyfert, president and CEO of the Farm Credit Council. “We’re proud to deliver on our ongoing commitment to supporting young, beginning, and small producers as evidenced through this report.” During 2024, Farm Credit institutions made the 150,000 loans, totaling $33.1 billion, which was more than half of all loans made last year. Through 2024, Farm Credit supported over 50,000 loans to young producers who were 35 and under. More than 72,000 loans were made to beginning producers with ten years or less of experience, and 121,000 loans to producers with under $350,000 in gross cash farm income. -NAFB

Farm credit supporting young farmers

Based on the mid-year cattle report, a further tightening is expected of calves available for placement in late 2025 and early 2026. The report also suggests steady but gradual changes to inventories of beef cows and replacement heifers. That means the 2025 and 2026 beef production forecasts were lowered from last month. Elsewhere, lamb prices moved sharply upward in June and July of this year, leading to higher lamb price forecasts for the rest of 2025 and 2026. 

Milk production is forecast to increase in 2025 and 2026, driven by larger herds and improved yields. The all-milk price remains unchanged at $22 per hundredweight. Pork production for 2025 is reduced by one percent from last month’s forecast to 27.7 billion pounds, reflecting a slower slaughter rate and reduced dressed weights in the third and fourth quarters. Projected broiler production in the poultry industry is expected to increase due to strong hatchery data and lower feed costs. 

Based on the mid-year cattle report, a further tightening is expected of calves available for placement in late 2025 and early 2026. The report also suggests steady but gradual changes to inventories of beef cows and replacement heifers. That means the 2025 and 2026 beef production forecasts were lowered from last month. Elsewhere, lamb prices moved sharply upward in June and July of this year, leading to higher lamb price forecasts for the rest of 2025 and 2026. Milk production is forecast to increase in 2025 and 2026, driven by larger herds and improved yields. The all-milk price remains unchanged at $22 per hundredweight. Pork production for 2025 is reduced by one percent from last month’s forecast to 27.7 billion pounds, reflecting a slower slaughter rate and reduced dressed weights in the third and fourth quarters. Projected broiler production in the poultry industry is expected to increase due to strong hatchery data and lower feed costs. -NAFB

USDA issues August livestock report

December corn closed down 3 1/4 cents at $4.20 3/4 and March corn was down 3 1/2 cents at $4.03 1/4. November soybeans closed down 7 1/2 cents at $10.33 3/4 and January soybeans were down 6 3/4 cents at $10.53 1/2. December KC wheat closed down 6 1/2 cents at $5.21 3/4, September Chicago wheat was down 4 1/4 cents at $4.98 1/2 and December Minneapolis wheat was up 0.01 cents at $5.87.

It was generally a bright red day on ag commodity quote boards as all three wheat markets again printed new lows; corn, soybeans and bean oil fell, with the latter two down hard. Steady crop ratings in corn and soy and the ongoing crop tour reflecting the record yield potential that USDA saw, along with the accelerating southern harvests, combined to weigh on prices throughout the session.

Tuesday presented itself as another opportunity to rally in the live cattle complex, and traders didn't let the chance to again push the contracts higher slip by.It's obviously helping that boxed beef prices continue to trek higher despite the already incredibly high price point at which the market is trading, but resistance pressure could at any time pressure the live cattle contracts and cause traders some anxiety. In the spot October contract, resistance pressure looms around $232, and the contract was just roughly $0.50 away from that threshold for the bulk of the session. Asking prices are noted in the South at $240 plus, but are still not established in the North.

The feeder cattle complex continues to flex its power and strength, as currently, many of the nearby contracts have already reached new contract highs for the day. More than anything, the surge in the feeder cattle complex seems to be stemming from the fact that demand in the countryside remains utterly incredible, and that the live cattle complex is seeing plenty of support, which all bodes well with traders.

Following yesterday's higher close in the lean hog complex, the market seemed to question its move, trying to determine if it has enough support to justify the move made yesterday and finished modestly lower. The biggest deterrent to the morning's carcass price was the loin's $2.24 decline.

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By: NATHAN STUEDLEGRAINS:December corn closed down 3 1/4 cents at $4.20 3/4 and March corn was down 3 1/2 cents at $4.03 1/4. November soybeans closed down 7 1/2 cents at $10.33 3/4 and January soybeans were down 6 3/4 cents at $10.53 1/2. December KC wheat closed down 6 1/2 cents at $5.21 3/4, September Chicago wheat was down 4 1/4 cents at $4.98 1/2 and December Minneapolis wheat was up 0.01 cents at $5.87.It was generally a bright red day on ag commodity quote boards as all three wheat markets again printed new lows; corn, soybeans and bean oil fell, with the latter two down hard. Steady crop ratings in corn and soy and the ongoing crop tour reflecting the record yield potential that USDA saw, along with the accelerating southern harvests, combined to weigh on prices throughout the session.LIVESTOCK:Tuesday presented itself as another opportunity to rally in the live cattle complex, and traders didn't let the chance to again push the contracts higher slip by.It's obviously helping that boxed beef prices continue to trek higher despite the already incredibly high price point at which the market is trading, but resistance pressure could at any time pressure the live cattle contracts and cause traders some anxiety. In the spot October contract, resistance pressure looms around $232, and the contract was just roughly $0.50 away from that threshold for the bulk of the session. Asking prices are noted in the South at $240 plus, but are still not established in the North.The feeder cattle complex continues to flex its power and strength, as currently, many of the nearby contracts have already reached new contract highs for the day. More than anything, the surge in the feeder cattle complex seems to be stemming from the fact that demand in the countryside remains utterly incredible, and that the live cattle complex is seeing plenty of support, which all bodes well with traders.Following yesterday's higher close in the lean hog complex, the market seemed to question its move, trying to determine if it has enough support to justify the move made yesterday and finished modestly lower. The biggest deterrent to the morning's carcass price was the loin's $2.24 decline.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/19142439/web-closing-markets.mp3">Click HERE for audio</a>

Recent beef checkoff-funded research adds to a growing body of evidence reinforcing the important role fresh beef plays in a healthy, sustainable diet. Animal-sourced foods like red meat are often associated with obesity risk. However, Texas Tech University researchers conducted a comprehensive analysis of available research on the relationship between unprocessed red meat intake and obesity, finding no significant effect of such intake on weight gain or related metabolic issues in adults. 

The researchers found that beef contains high-quality protein and other essential nutrients, and people enjoy it as a key source of nourishment, but they’re often discouraged from consuming red meat based on recommendations primarily driven by observational evidence. The Texas Tech study is the first to fully review the totality of causative evidence, which shows no protective or adverse effect of unprocessed red meat intake on obesity. The NCBA and the Texas Beef Council funded the research. 

Recent beef checkoff-funded research adds to a growing body of evidence reinforcing the important role fresh beef plays in a healthy, sustainable diet. Animal-sourced foods like red meat are often associated with obesity risk. However, Texas Tech University researchers conducted a comprehensive analysis of available research on the relationship between unprocessed red meat intake and obesity, finding no significant effect of such intake on weight gain or related metabolic issues in adults. The researchers found that beef contains high-quality protein and other essential nutrients, and people enjoy it as a key source of nourishment, but they’re often discouraged from consuming red meat based on recommendations primarily driven by observational evidence. The Texas Tech study is the first to fully review the totality of causative evidence, which shows no protective or adverse effect of unprocessed red meat intake on obesity. The NCBA and the Texas Beef Council funded the research. -NAFB

New study on red meat and obesity shows no link

One of the most important independent measurements of American crop production is well underway this week amid several challenges which are making it harder than ever to predict yield, one of the crucial statistics driving the Corn Belt’s economy. The 33rd annual Pro Farmer Crop Tour runs through August 21, and will send scouts to fields in seven states to measure corn and soybean potential. 

Lane Aakre (acre), Pro Farmer economist and eastern tour leader, says they’re eager to get out into the fields. “USDA is forecasting some huge numbers in states like Iowa, Illinois, Indiana, Minnesota, Missouri, and South Dakota, based on satellite imagery and feedback from farmer surveys,” Aakre said. USDA no longer collects objective yield samples in August, so the Crop Tour is the first to broadly measure ear populations and pod counts from actual fields in the Corn Belt. They’ll pull more than 1,600 corn and 1,600 soybean samples.

One of the most important independent measurements of American crop production is well underway this week amid several challenges which are making it harder than ever to predict yield, one of the crucial statistics driving the Corn Belt’s economy. The 33rd annual Pro Farmer Crop Tour runs through August 21, and will send scouts to fields in seven states to measure corn and soybean potential. Lane Aakre (acre), Pro Farmer economist and eastern tour leader, says they’re eager to get out into the fields. “USDA is forecasting some huge numbers in states like Iowa, Illinois, Indiana, Minnesota, Missouri, and South Dakota, based on satellite imagery and feedback from farmer surveys,” Aakre said. USDA no longer collects objective yield samples in August, so the Crop Tour is the first to broadly measure ear populations and pod counts from actual fields in the Corn Belt. They’ll pull more than 1,600 corn and 1,600 soybean samples.-NAFB

Pro Farmer Crop Tour this week is counting down to harvest

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December corn closed up 1 1/4 cents per bushel at $4.06 1/2 and March corn was up 1 3/4 cents at $4.24 1/4. November soybeans closed down 1 1/4 cents at $10.41 1/4 and January soybeans were down 1 1/2 cents at $10.60. September KC wheat closed down 3/4 cent at $5.06 1/4, September Chicago wheat was down 3 3/4 cents at $5.02 3/4 and MIAX December Minneapolis wheat was down 0.01 cents at $5.8825.

The September U.S. Dollar Index is trading up 0.263 at 97.975. The Dow Jones Industrial Average is down 44.33 points at 44,901.79. December gold is down $3.60 at $3,379.00, September silver is up $0.08 at $38.06 and September copper is down $0.0125 at $4.4800. September crude oil is up $0.58 at $63.38, September heating oil is up $0.0140, September RBOB is up $0.0243 and September natural gas is down $0.027.

December corn futures, in two-sided trade, finished slightly better on Monday. Early pressure was coming from not only the continued favorable weather with the primary Corn Belt slated to get more rain amid a cooling trend, but also from thoughts that a major annual crop tour which began on Monday was likely to find more reasons to be bearish corn. After the recent August WASDE had pegged the corn crop at a record 188.8 bushels per acre (bpa) yield with record production of over 16.7 billion bushels (bb), some even believed NASS could ultimately raise yield again in future reports. Talk centered on corn at least having a yield of 186 bpa with some private estimates even inching up to and above the 190-bpa mark. Also adding pressure is the expanding southern corn harvest with Louisiana likely to reach more than 60% harvested with Arkansas moving close to 20%, pressuring cash values. So far, Delta corn yields are reported to be running well above a year ago. On Monday morning another new corn sale was announced -- 4.9 mb sold to unknown destinations. Demand remains solid on the export front along with corn used for ethanol. Weekend rain fell in the Northern Plains, Upper Midwest, with more rain early Monday for parts of Nebraska, Iowa and into Minnesota and Wisconsin. Funds remain net-short the corn market. DTN's National Corn Index is $3.65 and 19 cents under the September futures.

The soy market was quiet to start the new week with soybeans trading to a slight loss late, while bean oil was slightly higher in two-sided trade and soymeal fell for the third consecutive day. Weather continues to be very favorable into the first half of September. Weekend rain in the Northern Plains, Upper Midwest and primary Corn Belt will be followed by a cooler and wetter pattern beyond Tuesday. The trade is awaiting news from the ongoing Pro Farmer tour which will conclude Thursday with a yield and production estimate. The calendar spread in beans is suggesting we could see another bump in soy yield in coming reports. Export business in the new-crop slot continues to be anemic with zero China soy purchases on the books so far. At a time when U.S. soy exporters usually find strong China buying interest, due to the tariff fight, it seems China has loaded up on more expensive South American beans. Domestically, soybean crush continues to be the bright spot with the July NOPA report showing a record large grind of 195.6 million bushels (mb). A recent farm advisory private tour of Iowa and Illinois revealed record large pod counts, and the DTN Digital Tour results from those two states would likely concur with call for record yields. The southern soybean harvest will likely begin just after the Labor Day weekend, with the large corn and soy crops expected to strain the storage system. Funds begin the new week with a modest bean short and bean oil long and a large soymeal net short of 109,000 contracts. DTN's National Soybean Index is $9.78 and 65 under the November futures.

By MATT PIKEClick <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/18144852/30001-closing-markets.wav">HERE</a> to listen to the closing marketsGENERAL COMMENTS:December corn closed up 1 1/4 cents per bushel at $4.06 1/2 and March corn was up 1 3/4 cents at $4.24 1/4. November soybeans closed down 1 1/4 cents at $10.41 1/4 and January soybeans were down 1 1/2 cents at $10.60. September KC wheat closed down 3/4 cent at $5.06 1/4, September Chicago wheat was down 3 3/4 cents at $5.02 3/4 and MIAX December Minneapolis wheat was down 0.01 cents at $5.8825.The September U.S. Dollar Index is trading up 0.263 at 97.975. The Dow Jones Industrial Average is down 44.33 points at 44,901.79. December gold is down $3.60 at $3,379.00, September silver is up $0.08 at $38.06 and September copper is down $0.0125 at $4.4800. September crude oil is up $0.58 at $63.38, September heating oil is up $0.0140, September RBOB is up $0.0243 and September natural gas is down $0.027.CORN:December corn futures, in two-sided trade, finished slightly better on Monday. Early pressure was coming from not only the continued favorable weather with the primary Corn Belt slated to get more rain amid a cooling trend, but also from thoughts that a major annual crop tour which began on Monday was likely to find more reasons to be bearish corn. After the recent August WASDE had pegged the corn crop at a record 188.8 bushels per acre (bpa) yield with record production of over 16.7 billion bushels (bb), some even believed NASS could ultimately raise yield again in future reports. Talk centered on corn at least having a yield of 186 bpa with some private estimates even inching up to and above the 190-bpa mark. Also adding pressure is the expanding southern corn harvest with Louisiana likely to reach more than 60% harvested with Arkansas moving close to 20%, pressuring cash values. So far, Delta corn yields are reported to be running well above a year ago. On Monday morning another new corn sale was announced -- 4.9 mb sold to unknown destinations. Demand remains solid on the export front along with corn used for ethanol. Weekend rain fell in the Northern Plains, Upper Midwest, with more rain early Monday for parts of Nebraska, Iowa and into Minnesota and Wisconsin. Funds remain net-short the corn market. DTN's National Corn Index is $3.65 and 19 cents under the September futures.SOYBEANS:The soy market was quiet to start the new week with soybeans trading to a slight loss late, while bean oil was slightly higher in two-sided trade and soymeal fell for the third consecutive day. Weather continues to be very favorable into the first half of September. Weekend rain in the Northern Plains, Upper Midwest and primary Corn Belt will be followed by a cooler and wetter pattern beyond Tuesday. The trade is awaiting news from the ongoing Pro Farmer tour which will conclude Thursday with a yield and production estimate. The calendar spread in beans is suggesting we could see another bump in soy yield in coming reports. Export business in the new-crop slot continues to be anemic with zero China soy purchases on the books so far. At a time when U.S. soy exporters usually find strong China buying interest, due to the tariff fight, it seems China has loaded up on more expensive South American beans. Domestically, soybean crush continues to be the bright spot with the July NOPA report showing a record large grind of 195.6 million bushels (mb). A recent farm advisory private tour of Iowa and Illinois revealed record large pod counts, and the DTN Digital Tour results from those two states would likely concur with call for record yields. The southern soybean harvest will likely begin just after the Labor Day weekend, with the large corn and soy crops expected to strain the storage system. Funds begin the new week with a modest bean short and bean oil long and a large soymeal net short of 109,000 contracts. DTN's National Soybean Index is $9.78 and 65 under the November futures.WHEAT:

A draft of the upcoming MAHA report, reportedly will not propose direct restrictions on ultra-processed foods and pesticides that HHS Secretary Robert F. Kennedy, Jr., called “major threats.” If it is adopted, the report on the health of America’s children will be good news for the food and agriculture industries, which feared much more restrictive proposals than the ones currently outlined in the draft. 

Kennedy, the Health and Human Services Secretary, has sought to change the nation’s diet by pushing the industries to make major changes through his “Make America Healthy Again” movement. The New York Times said industry regulators will work with ag stakeholders to make sure the public is aware of and confident in existing pesticide review procedures. However, it also said the administration will back research on technologies to help farmers reduce pesticide use and on the health impacts on the public.

A draft of the upcoming MAHA report, reportedly will not propose direct restrictions on ultra-processed foods and pesticides that HHS Secretary Robert F. Kennedy, Jr., called “major threats.” If it is adopted, the report on the health of America’s children will be good news for the food and agriculture industries, which feared much more restrictive proposals than the ones currently outlined in the draft. Kennedy, the Health and Human Services Secretary, has sought to change the nation’s diet by pushing the industries to make major changes through his “Make America Healthy Again” movement. The New York Times said industry regulators will work with ag stakeholders to make sure the public is aware of and confident in existing pesticide review procedures. However, it also said the administration will back research on technologies to help farmers reduce pesticide use and on the health impacts on the public.-NAFB

Draft MAHA report shows no pesticide restrictions

U.S. wheat exports for 2025-2026 are forecast to increase by 25 million bushels this month, the highest since 2020, based on a strong pace of export sales and competitive pricing. Hard Red Winter Wheat exports are forecast to rise by 300 million bushels, with total commitments almost double from a year ago. That’s based on information from the USDA’s Foreign Agricultural Service Export Sales Database. 

With competitive pricing compared to other exporters, HRW sales have expanded to a wide variety of markets, most notably to Nigeria, Mexico, Venezuela, and Bangladesh. 

Export sales of Soft Red Winter Wheat and Durum are running slightly ahead of last year, and total exports of those classes are forecast to increase during the marketing year. Conversely, sales of Hard Red Spring and White currently lag behind last year’s pace and are forecast to be lower year to year. Total 2025-2026 wheat production is forecast at 1.93 billion bushels.

U.S. wheat exports for 2025-2026 are forecast to increase by 25 million bushels this month, the highest since 2020, based on a strong pace of export sales and competitive pricing. Hard Red Winter Wheat exports are forecast to rise by 300 million bushels, with total commitments almost double from a year ago. That’s based on information from the USDA’s Foreign Agricultural Service Export Sales Database. With competitive pricing compared to other exporters, HRW sales have expanded to a wide variety of markets, most notably to Nigeria, Mexico, Venezuela, and Bangladesh. Export sales of Soft Red Winter Wheat and Durum are running slightly ahead of last year, and total exports of those classes are forecast to increase during the marketing year. Conversely, sales of Hard Red Spring and White currently lag behind last year’s pace and are forecast to be lower year to year. Total 2025-2026 wheat production is forecast at 1.93 billion bushels.-NAFB

Wheat exports to rebound in the year ahead

December corn closed up 8 cents per bushel at $4.05 1/4 and March corn was up 8 1/2 cents at $4.22 1/2. November soybeans closed up 14 cents at $10.61 1/2 and January soybeans were up 13 1/4 cents at $10.42 1/2. September KC wheat closed up 2 3/4 cents at $5.07, September Chicago wheat was up 3 cents at $5.06 1/2 and December Minneapolis wheat was down 0.02 cents at $5.8975.

September corn rose 1 cent for the week to close at $3.83 3/4 and December corn finished down 1/4 cent at $4.05 1/4. September soybeans closed up 54 1/2 cents to end the week at $10.22 1/4 and November beans closed up 55 cents to finish at $10.42 1/2. Chicago September wheat finished down 8 at $5.06 1/2, KC September fell 11 1/4 cents to end at $5.07.  Minneapolis wheat ended down .0575 to end the week at $5.69 1/4.

Grain and soy markets closed stronger Friday with the exception of soymeal and Minneapolis wheat. Traders likely added back some weather premium due to the warmer and drier outlook for parts of the eastern and southern Midwest and Delta. The strength came despite the news that Brazil's corn and soy crops would both be record large. Kansas City and Chicago wheat had become extremely oversold and joined in Friday's rally effort.

The live cattle complex was back to rallying as traders were hopeful that the fed cash cattle market will indeed see higher prices in both regions this week. There was a thin movement of cattle traded in the North at mostly $384 to $386, which is $3.00 to $5.00 higher than last week's weighted average, Asking prices remain firm in the South at $237 plus, and there are bids currently on the table in Texas at $233, but again, no Southern live cattle have traded yet. Even so, traders are hopeful that the market will continue to see fundamental support, which is mainly why the contracts traded higher into Friday's close. Plus, it's helpful that boxed beef prices were rallying noticeably again today.

The feeder cattle complex was worried at the start of Friday's complex that the day's trade may be pressured like it was on Thursday. But thankfully, upon seeing the live cattle contracts trading higher, even the feeder cattle contracts traded significantly stronger into Friday's close.

At last, the lean hog complex traded higher as the market has finally seemed to find some technical support, which helped rally the contracts and the strong uptick in pork demand this morning was helpful too. The $14.87 rally in the belly is the biggest reason why the carcass price was higher, but every single one of the major cuts were trading higher and advancements of $2.00 to $5.00 were the norm this morning.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/15141605/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 8 cents per bushel at $4.05 1/4 and March corn was up 8 1/2 cents at $4.22 1/2. November soybeans closed up 14 cents at $10.61 1/2 and January soybeans were up 13 1/4 cents at $10.42 1/2. September KC wheat closed up 2 3/4 cents at $5.07, September Chicago wheat was up 3 cents at $5.06 1/2 and December Minneapolis wheat was down 0.02 cents at $5.8975.For the Week:September corn rose 1 cent for the week to close at $3.83 3/4 and December corn finished down 1/4 cent at $4.05 1/4. September soybeans closed up 54 1/2 cents to end the week at $10.22 1/4 and November beans closed up 55 cents to finish at $10.42 1/2. Chicago September wheat finished down 8 at $5.06 1/2, KC September fell 11 1/4 cents to end at $5.07. Minneapolis wheat ended down .0575 to end the week at $5.69 1/4.Grain and soy markets closed stronger Friday with the exception of soymeal and Minneapolis wheat. Traders likely added back some weather premium due to the warmer and drier outlook for parts of the eastern and southern Midwest and Delta. The strength came despite the news that Brazil's corn and soy crops would both be record large. Kansas City and Chicago wheat had become extremely oversold and joined in Friday's rally effort.LIVESTOCK:The live cattle complex was back to rallying as traders were hopeful that the fed cash cattle market will indeed see higher prices in both regions this week. There was a thin movement of cattle traded in the North at mostly $384 to $386, which is $3.00 to $5.00 higher than last week's weighted average, Asking prices remain firm in the South at $237 plus, and there are bids currently on the table in Texas at $233, but again, no Southern live cattle have traded yet. Even so, traders are hopeful that the market will continue to see fundamental support, which is mainly why the contracts traded higher into Friday's close. Plus, it's helpful that boxed beef prices were rallying noticeably again today.The feeder cattle complex was worried at the start of Friday's complex that the day's trade may be pressured like it was on Thursday. But thankfully, upon seeing the live cattle contracts trading higher, even the feeder cattle contracts traded significantly stronger into Friday's close. At last, the lean hog complex traded higher as the market has finally seemed to find some technical support, which helped rally the contracts and the strong uptick in pork demand this morning was helpful too. The $14.87 rally in the belly is the biggest reason why the carcass price was higher, but every single one of the major cuts were trading higher and advancements of $2.00 to $5.00 were the norm this morning.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/15141605/web-closing-markets.mp3">Click HERE for audio</a>

Despite ongoing challenges, agricultural land values have remained remarkably stable through mid-2025. According to the Farmers National Company, the resilience is mainly driven by simple supply and demand; there are more motivated buyers than willing sellers. While producers remain the main buyers of ag land, interest from individual and institutional investors can’t be ignored. As land values stabilize after the peaks of the last five years, investors are increasingly attracted to the annual returns and long-term appreciation. 

Farm Credit Services of America says benchmark Midwest farmland values increased 57 percent over the past five years and 39 percent over the past decade. Inventory remains limited, with listings down 25 percent from the peak in 2020-2021. “While producer balance sheets generally remain strong, any negative movements in the ag economy could quickly impact the land market,” said Paul Shadegg, the senior vice president of real estate operations at Farmers National. 

Despite ongoing challenges, agricultural land values have remained remarkably stable through mid-2025. According to the Farmers National Company, the resilience is mainly driven by simple supply and demand; there are more motivated buyers than willing sellers. While producers remain the main buyers of ag land, interest from individual and institutional investors can’t be ignored. As land values stabilize after the peaks of the last five years, investors are increasingly attracted to the annual returns and long-term appreciation. Farm Credit Services of America says benchmark Midwest farmland values increased 57 percent over the past five years and 39 percent over the past decade. Inventory remains limited, with listings down 25 percent from the peak in 2020-2021. “While producer balance sheets generally remain strong, any negative movements in the ag economy could quickly impact the land market,” said Paul Shadegg, the senior vice president of real estate operations at Farmers National. -NAFB