American Farm Bureau President Zippy Duvall commented on the EPA’s announcement that it will revise Diesel Exhaust Fluid (DEF) guidelines for manufacturers of heavy trucks and off-road equipment. Manufacturers will be directed to update the software in equipment that uses DEF to prevent them from losing power. “Farm Bureau thanks the EPA and Administrator Zeldin for their common-sense approach to heavy trucks and off-road equipment that uses Diesel Exhaust Fluid,” Duvall said. 

“When a vehicle runs out of DEF or there is an error in the software, it loses power, causing delays that could be the difference between getting a crop harvested or animals to their destination.” He also said the agency’s decision to grant a grace period to make repairs or refill DEF is the right thing to do, which keeps farmers in the field and commerce moving. Since 2010, diesel trucks and tractors have used DEF to reduce emissions of nitrous oxides. 

American Farm Bureau President Zippy Duvall commented on the EPA’s announcement that it will revise Diesel Exhaust Fluid (DEF) guidelines for manufacturers of heavy trucks and off-road equipment. Manufacturers will be directed to update the software in equipment that uses DEF to prevent them from losing power. “Farm Bureau thanks the EPA and Administrator Zeldin for their common-sense approach to heavy trucks and off-road equipment that uses Diesel Exhaust Fluid,” Duvall said. “When a vehicle runs out of DEF or there is an error in the software, it loses power, causing delays that could be the difference between getting a crop harvested or animals to their destination.” He also said the agency’s decision to grant a grace period to make repairs or refill DEF is the right thing to do, which keeps farmers in the field and commerce moving. Since 2010, diesel trucks and tractors have used DEF to reduce emissions of nitrous oxides. -NAFB

Farmers applaud common-sense fix for diesel engines

December corn closed unchanged at $3.97 1/4 and March corn was down a penny at $4.14. November soybeans closed down 15 3/4 cents at $10.28 1/2 and January soybeans were down 14 1/2 cents at $10.48 1/4. September KC wheat closed down 2 1/2 cents at $5.04 1/4, September Chicago wheat was down 3 3/4 cents at $5.03 1/2 and December Minneapolis wheat was down 0.04 cents at $5.92.

The soybean market retreated Thursday, halting a 3-day rally, as did soy products. Both Chicago and Kansas City wheat fell to new contract lows before bouncing and corn was mixed to lower in quiet trade. December corn came within a half-cent of the low before stabilizing. Bean oil futures resumed the downtrend.

Even though the live cattle complex was grateful to close higher Wednesday afternoon and see fed cash cattle prices trade higher in the North. The market is struggled as the week's export report was lousy and traders are holding their breath, waiting to see if the complex falls below last Friday's close, which would be a bearish technical signal. Last Friday, the market traded as low as $225.60, which will be the threshold we need to continue to monitor. A few cash bids are on the table as live bids are being offered at $233 in Texas. Live bids are being offered in Nebraska at $245, but no trade has developed yet following Wednesday's movement in the Nebraska where dressed cattle were trading at $385, which is $4.00 higher than last week's weighted average.

And as one would logically expect, the feeder cattle complex also traded significantly lower after seeing the live cattle contracts duck and run. Traders believed that was the best route to send the feeder cattle contracts as well. Again, this decision is solely one being made on technical indications as demand in the countryside remains nearly unfathomable for feeder cattle. It's looking like the fed cash cattle market may be able to trade cattle for higher money this week, but time will tell.

The lean hog complex traded lower as well into Thursday's closing bell, as traders remain displeased about the morning's export report and didn't finding the morning's fundamental support to be sufficient enough to keep steady. The cutout's biggest problem this morning was the $4.96 decline in the picnic.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/14144813/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed unchanged at $3.97 1/4 and March corn was down a penny at $4.14. November soybeans closed down 15 3/4 cents at $10.28 1/2 and January soybeans were down 14 1/2 cents at $10.48 1/4. September KC wheat closed down 2 1/2 cents at $5.04 1/4, September Chicago wheat was down 3 3/4 cents at $5.03 1/2 and December Minneapolis wheat was down 0.04 cents at $5.92.The soybean market retreated Thursday, halting a 3-day rally, as did soy products. Both Chicago and Kansas City wheat fell to new contract lows before bouncing and corn was mixed to lower in quiet trade. December corn came within a half-cent of the low before stabilizing. Bean oil futures resumed the downtrend.LIVESTOCK:Even though the live cattle complex was grateful to close higher Wednesday afternoon and see fed cash cattle prices trade higher in the North. The market is struggled as the week's export report was lousy and traders are holding their breath, waiting to see if the complex falls below last Friday's close, which would be a bearish technical signal. Last Friday, the market traded as low as $225.60, which will be the threshold we need to continue to monitor. A few cash bids are on the table as live bids are being offered at $233 in Texas. Live bids are being offered in Nebraska at $245, but no trade has developed yet following Wednesday's movement in the Nebraska where dressed cattle were trading at $385, which is $4.00 higher than last week's weighted average.And as one would logically expect, the feeder cattle complex also traded significantly lower after seeing the live cattle contracts duck and run. Traders believed that was the best route to send the feeder cattle contracts as well. Again, this decision is solely one being made on technical indications as demand in the countryside remains nearly unfathomable for feeder cattle. It's looking like the fed cash cattle market may be able to trade cattle for higher money this week, but time will tell.The lean hog complex traded lower as well into Thursday's closing bell, as traders remain displeased about the morning's export report and didn't finding the morning's fundamental support to be sufficient enough to keep steady. The cutout's biggest problem this morning was the $4.96 decline in the picnic.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/14144813/web-closing-markets.mp3">Click HERE for audio</a>

Commodity markets daily recap

The USDA reminds agricultural producers that the final date to apply for or make changes to their existing crop insurance coverage is quickly approaching for fall-planted crops. Sales closing dates vary by crop and location, but the next major sales closing dates are September 1 and September 30. Producers are encouraged to visit their crop insurance agent soon to learn specific details for the 2026 crop year. Crop insurance coverage decisions must be made on or before the applicable sales closing date. 

The USDA’s Risk Management Agency lists sales closing dates in the Actuarial Information Browser, under the “Dates” tab. Producers can also access the RMA Information Reporting System tool to specifically identify applicable dates for their operation, using the “Insurance Offer Reports” application. Federal crop insurance is critical to the farm safety net. It helps producers and owners manage revenue risks and strengthens the U.S. rural economy. 

The USDA reminds agricultural producers that the final date to apply for or make changes to their existing crop insurance coverage is quickly approaching for fall-planted crops. Sales closing dates vary by crop and location, but the next major sales closing dates are September 1 and September 30. Producers are encouraged to visit their crop insurance agent soon to learn specific details for the 2026 crop year. Crop insurance coverage decisions must be made on or before the applicable sales closing date. The USDA’s Risk Management Agency lists sales closing dates in the Actuarial Information Browser, under the “Dates” tab. Producers can also access the RMA Information Reporting System tool to specifically identify applicable dates for their operation, using the “Insurance Offer Reports” application. Federal crop insurance is critical to the farm safety net. It helps producers and owners manage revenue risks and strengthens the U.S. rural economy. -NAFB

Crop insurance deadline drawing closer

Recent data from the Association of Equipment Manufacturers showed Canadian sales of combines grew 11.4 percent in July 2025 compared to July of last year. Canadian sales of two-wheel-drive tractors also increased slightly, growing three percent in July 2025 compared to July 2024. U.S. sales of combines fell 43 percent, while total agricultural tractor sales fell by 4.9 percent in July 2025 compared to last year. 

“While we are encouraged by the modest growth in Canadian combine and tractor sales, the significant declines in the U.S. reflect ongoing caution in the marketplace,” said AEM Senior Vice President Curt Blades. “We believe North American farmers are carefully evaluating their capital assets and taking a measured approach to equipment purchases, balancing operational needs with broader economic uncertainty.” The biggest drop in the U.S. was in self-propelled combine sales, dropping almost 44 percent from July 2024.

Recent data from the Association of Equipment Manufacturers showed Canadian sales of combines grew 11.4 percent in July 2025 compared to July of last year. Canadian sales of two-wheel-drive tractors also increased slightly, growing three percent in July 2025 compared to July 2024. U.S. sales of combines fell 43 percent, while total agricultural tractor sales fell by 4.9 percent in July 2025 compared to last year. “While we are encouraged by the modest growth in Canadian combine and tractor sales, the significant declines in the U.S. reflect ongoing caution in the marketplace,” said AEM Senior Vice President Curt Blades. “We believe North American farmers are carefully evaluating their capital assets and taking a measured approach to equipment purchases, balancing operational needs with broader economic uncertainty.” The biggest drop in the U.S. was in self-propelled combine sales, dropping almost 44 percent from July 2024.-NAFB

U.S. combine sales continue to decline while Canadian sales rise 

December corn closed up 2 3/4 cents per bushel at $3.97 1/4 and March corn was up 2 3/4 cents at $4.15. November soybeans closed up 11 1/2 cents at $10.44 1/4 and January soybeans were up 12 cents at $10.62 3/4. September KC wheat closed down 4 cents at $5.06 3/4, September Chicago wheat was up 2 1/4 cents at $5.07 1/4 and MIAX December Minneapolis wheat was up 0.01 cents at $5.9600.

Soybeans continued to move higher Wednesday, again reacting to the surprise cut in harvested acres and lower production despite a record yield as reflected in Tuesday's USDA report. Wheat in Chicago fell to a new low and Kansas City came within a penny of the same fate. Corn was able to bounce slightly following the Tuesday beatdown.

Following the supportive trade that developed earlier this week for live cattle, traders are again twiddling their fingers, seeming to have the mindset that again asks: now what? On one hand, traders would like to continue to support the complex and push prices higher, but at the same time, they don't want to become overly aggressive and overextend the futures complex. So, as the market nears midday Wednesday, a mixed attitude has taken over the contracts as the nearby contracts are trading higher, but the deferred months are a tick more cautious and trading lower.

The feeder cattle complex is walking back some of its position following Tuesday's sporty jump as traders are concerned that there might not be enough technical support to keep prices trading higher. Some stronger sales were just noted in the Fed cash cattle market, which could help change traders' attitude, but that's yet to be seen.&nbsp;

The lean hog complex is trading lower even though the midday cutout report showed strong pork interest and the midday cash hog report showed stronger packer demand. Even so, the lean hog contracts are trading lower as technical pressure remains the issue for the market. October lean hogs are down $1.37 at $90.22, December lean hogs are down $1.45 at $82.35 and February lean hogs are down $1.45 at $85.12. It was interesting to see that the belly and the picnic jumped up over $6.00 higher on today's midday report.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/16201542/30001.mp3">Click HERE for Audio</a>

GrainsDecember corn closed up 2 3/4 cents per bushel at $3.97 1/4 and March corn was up 2 3/4 cents at $4.15. November soybeans closed up 11 1/2 cents at $10.44 1/4 and January soybeans were up 12 cents at $10.62 3/4. September KC wheat closed down 4 cents at $5.06 3/4, September Chicago wheat was up 2 1/4 cents at $5.07 1/4 and MIAX December Minneapolis wheat was up 0.01 cents at $5.9600.Soybeans continued to move higher Wednesday, again reacting to the surprise cut in harvested acres and lower production despite a record yield as reflected in Tuesday's USDA report. Wheat in Chicago fell to a new low and Kansas City came within a penny of the same fate. Corn was able to bounce slightly following the Tuesday beatdown.LivestockFollowing the supportive trade that developed earlier this week for live cattle, traders are again twiddling their fingers, seeming to have the mindset that again asks: now what? On one hand, traders would like to continue to support the complex and push prices higher, but at the same time, they don't want to become overly aggressive and overextend the futures complex. So, as the market nears midday Wednesday, a mixed attitude has taken over the contracts as the nearby contracts are trading higher, but the deferred months are a tick more cautious and trading lower.The feeder cattle complex is walking back some of its position following Tuesday's sporty jump as traders are concerned that there might not be enough technical support to keep prices trading higher. Some stronger sales were just noted in the Fed cash cattle market, which could help change traders' attitude, but that's yet to be seen.&nbsp;The lean hog complex is trading lower even though the midday cutout report showed strong pork interest and the midday cash hog report showed stronger packer demand. Even so, the lean hog contracts are trading lower as technical pressure remains the issue for the market. October lean hogs are down $1.37 at $90.22, December lean hogs are down $1.45 at $82.35 and February lean hogs are down $1.45 at $85.12. It was interesting to see that the belly and the picnic jumped up over $6.00 higher on today's midday report.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/16201542/30001.mp3">Click HERE for Audio</a>

Mexico has set minimum export prices for its fresh tomatoes to protect its domestic production and ensure internal supply after a bilateral agreement with the U.S. expired. Mexico’s economy and agriculture ministries made the announcement in a joint statement after Washington withdrew from a 2019 deal between the two countries, which regulated Mexican tomato exports to the U.S. 

On July 14, the Trump administration announced a duty of about 17 percent on fresh tomato imports from Mexico. The new pricing rules apply exclusively to definitive exports, but they don’t restrict export volumes or impose maximum prices. The Mexican ministries said prices will be reviewed every year or sooner if market conditions suddenly demand it. “This action reinforces the government’s commitment to agricultural competitiveness, dignified rural employment, and food sovereignty,” the ministries said. Minimum export prices per kilogram include $1.70 for cherry and grape tomatoes and 88 cents for Roma tomatoes.

Mexico has set minimum export prices for its fresh tomatoes to protect its domestic production and ensure internal supply after a bilateral agreement with the U.S. expired. Mexico’s economy and agriculture ministries made the announcement in a joint statement after Washington withdrew from a 2019 deal between the two countries, which regulated Mexican tomato exports to the U.S. On July 14, the Trump administration announced a duty of about 17 percent on fresh tomato imports from Mexico. The new pricing rules apply exclusively to definitive exports, but they don’t restrict export volumes or impose maximum prices. The Mexican ministries said prices will be reviewed every year or sooner if market conditions suddenly demand it. “This action reinforces the government’s commitment to agricultural competitiveness, dignified rural employment, and food sovereignty,” the ministries said. Minimum export prices per kilogram include $1.70 for cherry and grape tomatoes and 88 cents for Roma tomatoes.-NAFB

Mexico Sets Minimum Export Prices for Fresh Tomatoes

The National Cattlemen’s Beef Association notched a legal victory affirming protections for cattle farmers and ranchers from onerous and unnecessary air emissions reporting requirements. NCBA and a coalition of farm groups have engaged in the litigation for years to ensure that family farmers and ranchers were not forced to file complex, overreaching reports with the federal government about emissions under the Emergency Planning and Community Right-to-Know Act (EPCRA) and the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). 

“CERCLA and EPCRA were intended to address the worst industrial and toxic chemicals, not govern family farms and ranches,” said Kaitlynn Glover, executive director of the Public Lands Council. ‘The decision affirms that family cattle producers shouldn’t have to file reports for a natural, biological process under a law meant for significant chemical contaminants.” She also said NCBA and the other groups “stepped up” to protect family farms and ranches through this litigation.

The National Cattlemen’s Beef Association notched a legal victory affirming protections for cattle farmers and ranchers from onerous and unnecessary air emissions reporting requirements. NCBA and a coalition of farm groups have engaged in the litigation for years to ensure that family farmers and ranchers were not forced to file complex, overreaching reports with the federal government about emissions under the Emergency Planning and Community Right-to-Know Act (EPCRA) and the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). “CERCLA and EPCRA were intended to address the worst industrial and toxic chemicals, not govern family farms and ranches,” said Kaitlynn Glover, executive director of the Public Lands Council. ‘The decision affirms that family cattle producers shouldn’t have to file reports for a natural, biological process under a law meant for significant chemical contaminants.” She also said NCBA and the other groups “stepped up” to protect family farms and ranches through this litigation.-NAFB

Legal Victory Protects Cattle Producers from Emissions Regulations

President Donald Trump signed an executive order on Monday extending a deadline for higher tariffs on Chinese imports until November. Officials from the U.S. and China first ended tariff tit-for-tat in May after duty rates on both sides reached triple digits. The latest deadline was set to expire on Tuesday (today). The executive order sets the new deadline for higher duties on November 10. 

“The U.S. continues to have discussions with China to address the lack of trade reciprocity in our economic relationship and our resulting national and economic security concerns,” the order reads. “Through these discussions, China continues to take significant steps toward remedying non-reciprocal trade arrangements and addressing the concerns of the United States.” 

Treasury Secretary Scott Bessent said the two sides are expected to meet later this year to continue discussions. Over the weekend, the president said he’s hopeful China will “quadruple” its U.S. soybean purchases.

President Donald Trump signed an executive order on Monday extending a deadline for higher tariffs on Chinese imports until November. Officials from the U.S. and China first ended tariff tit-for-tat in May after duty rates on both sides reached triple digits. The latest deadline was set to expire on Tuesday (today). The executive order sets the new deadline for higher duties on November 10. “The U.S. continues to have discussions with China to address the lack of trade reciprocity in our economic relationship and our resulting national and economic security concerns,” the order reads. “Through these discussions, China continues to take significant steps toward remedying non-reciprocal trade arrangements and addressing the concerns of the United States.” Treasury Secretary Scott Bessent said the two sides are expected to meet later this year to continue discussions. Over the weekend, the president said he’s hopeful China will “quadruple” its U.S. soybean purchases.-NAFB

China Tariff Truce Extended

December corn closed down 13 1/4 cents per bushel at $3.94 1/2 and March corn was down 13 cents at $4.12 1/4. November soybeans closed up 21 1/2 cents at $10.32 3/4 and January soybeans were up 21 1/4 cents at $10.50 3/4. September KC wheat closed down 8 1/4 cents at $5.10 3/4, September Chicago wheat was down 10 cents at $5.05 0/1 and September Minneapolis wheat was down 0.005 cents at $5.7725.

In atypical fashion from their usual conservative approach to revising yield and production early, USDA truly shocked most traders Tuesday. Granted there were private forecasts with a similar yield in the past few weeks, but no one saw the 7.8 bushel per acre increase from last month that the August report put forth. That shot the national production estimate to a record large 16.742 bb and sent corn to big losses.

The biggest news for the live cattle complex was undoubtedly the wild rally in midday boxed beef prices, which were not up mildly, but up a dramatic $8.50 for choice and up $5.39 for select. Thankfully, this positive fundamental development helped drive the live cattle contracts higher as all of the contracts traded more than $2.00 higher into Tuesday's closing bell. Still no news has developed in the cash cattle complex as no bids or asking prices have been posted.

Tuesday's WASDE report was rather bullish for the beef and cattle markets of 2025. Beef production for 2025 was decreased by 262 million pounds as both fed and non-fed cattle slaughter speeds have been reduced and carcass weights have decline slightly as well. But the major jaw-dropping data in the report was the quarterly steer price projections. Steer prices in the third quarter of 2025 are expected to average $238 (up $12.00 from last month's estimate), fourth quarter steer prices are expected to average $240 (up $11 from last month's estimate), steer prices in the first quarter of 2026 are expected to average $242 (up $15 from last month's estimate) and steer prices in the second quarter of 2026 are expected to average $243 (up $15 from last month's estimate). 2025 beef imports were reduced by 103 million pounds as tariff restrictions are expected to limit Brazilian beef imports. And 2025 beef exports were reduced by 46 million pounds as supplies remain tight domestically.

Keeping with stronger tone of Monday, the feeder cattle complex traded sharply higher into Tuesday's close. As seen Monday afternoon through the day, the CME feeder cattle index closed at $$341.04, up $3.83 from the previous day. Feeder cattle demand remains red hot in the countryside as buyers still have orders to fill and they know supplies aren't going to become numerous anytime soon.

With both pork cutout values and cash prices lower this morning, it comes as no real surprise that the lean hog complex traded lower for the bulk of the session. And with the spot October contract nearing resistance pressure (at $92.50), it's unlikely that without robust fundamental support, the contracts are going to trade higher and challenge that threshold.

Tuesday's WASDE report shared mostly positive news for the pork and hog markets of 2025. Pork production for 2025 was reduced by 557 million pounds as chain speeds have been and are expected to remain slower, and carcass weights are lighter as well. Luckily, the quarterly price projections saw an increase compared to last month's report as hog prices in the third quarter of 2025 are expected to average $77 (up $1.00 from last month's estimate), hog prices in the fourth quarter of 2025 are expected to average $67 (up $2.00 from last month's estimate), hog prices in the first quarter of 2026 are expected to average $64 (unchanged from last month's estimate) and hog prices in the second quarter of 2026 are expected to average $69 (up $1.00 from last month's report). Pork imports for 2025 were decreased by 9 million pounds, but pork exports for 2025 were increased by 9 million pounds.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/12142811/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed down 13 1/4 cents per bushel at $3.94 1/2 and March corn was down 13 cents at $4.12 1/4. November soybeans closed up 21 1/2 cents at $10.32 3/4 and January soybeans were up 21 1/4 cents at $10.50 3/4. September KC wheat closed down 8 1/4 cents at $5.10 3/4, September Chicago wheat was down 10 cents at $5.05 0/1 and September Minneapolis wheat was down 0.005 cents at $5.7725.In atypical fashion from their usual conservative approach to revising yield and production early, USDA truly shocked most traders Tuesday. Granted there were private forecasts with a similar yield in the past few weeks, but no one saw the 7.8 bushel per acre increase from last month that the August report put forth. That shot the national production estimate to a record large 16.742 bb and sent corn to big losses.LIVESTOCK:The biggest news for the live cattle complex was undoubtedly the wild rally in midday boxed beef prices, which were not up mildly, but up a dramatic $8.50 for choice and up $5.39 for select. Thankfully, this positive fundamental development helped drive the live cattle contracts higher as all of the contracts traded more than $2.00 higher into Tuesday's closing bell. Still no news has developed in the cash cattle complex as no bids or asking prices have been posted.Tuesday's WASDE report was rather bullish for the beef and cattle markets of 2025. Beef production for 2025 was decreased by 262 million pounds as both fed and non-fed cattle slaughter speeds have been reduced and carcass weights have decline slightly as well. But the major jaw-dropping data in the report was the quarterly steer price projections. Steer prices in the third quarter of 2025 are expected to average $238 (up $12.00 from last month's estimate), fourth quarter steer prices are expected to average $240 (up $11 from last month's estimate), steer prices in the first quarter of 2026 are expected to average $242 (up $15 from last month's estimate) and steer prices in the second quarter of 2026 are expected to average $243 (up $15 from last month's estimate). 2025 beef imports were reduced by 103 million pounds as tariff restrictions are expected to limit Brazilian beef imports. And 2025 beef exports were reduced by 46 million pounds as supplies remain tight domestically.Keeping with stronger tone of Monday, the feeder cattle complex traded sharply higher into Tuesday's close. As seen Monday afternoon through the day, the CME feeder cattle index closed at $$341.04, up $3.83 from the previous day. Feeder cattle demand remains red hot in the countryside as buyers still have orders to fill and they know supplies aren't going to become numerous anytime soon.With both pork cutout values and cash prices lower this morning, it comes as no real surprise that the lean hog complex traded lower for the bulk of the session. And with the spot October contract nearing resistance pressure (at $92.50), it's unlikely that without robust fundamental support, the contracts are going to trade higher and challenge that threshold.Tuesday's WASDE report shared mostly positive news for the pork and hog markets of 2025. Pork production for 2025 was reduced by 557 million pounds as chain speeds have been and are expected to remain slower, and carcass weights are lighter as well. Luckily, the quarterly price projections saw an increase compared to last month's report as hog prices in the third quarter of 2025 are expected to average $77 (up $1.00 from last month's estimate), hog prices in the fourth quarter of 2025 are expected to average $67 (up $2.00 from last month's estimate), hog prices in the first quarter of 2026 are expected to average $64 (unchanged from last month's estimate) and hog prices in the second quarter of 2026 are expected to average $69 (up $1.00 from last month's report). Pork imports for 2025 were decreased by 9 million pounds, but pork exports for 2025 were increased by 9 million pounds.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/12142811/web-closing-markets.mp3">Click HERE for audio</a>

Several key agriculture programs that Republicans didn’t get in the reconciliation bill will expire soon. reports say  a farm bill battle is coming in the fall because Republicans will likely need Democrats’ help to construct a smaller farm bill. While the One Big Beautiful Bill took care of much of the farm bill, the deep cuts in the Supplemental Nutrition Assistance Program will make it harder to get the legislation over the finish line. 

“I still think there’s hope,” said Senate Ag Ranking Member Amy Klobuchar at Farmfest in Minnesota. “There’s hope, because we still have other work to do.” In the House, Ag Chair GT Thompson wants to release some legislative text in September, but that will depend on how quickly the staff work gets done in August. Ranking Member Angie Craig said they’re in the “very early stages” of discussing what they’d like to see in the skinny farm bill. 

Several key agriculture programs that Republicans didn’t get in the reconciliation bill will expire soon. reports say a farm bill battle is coming in the fall because Republicans will likely need Democrats’ help to construct a smaller farm bill. While the One Big Beautiful Bill took care of much of the farm bill, the deep cuts in the Supplemental Nutrition Assistance Program will make it harder to get the legislation over the finish line. “I still think there’s hope,” said Senate Ag Ranking Member Amy Klobuchar at Farmfest in Minnesota. “There’s hope, because we still have other work to do.” In the House, Ag Chair GT Thompson wants to release some legislative text in September, but that will depend on how quickly the staff work gets done in August. Ranking Member Angie Craig said they’re in the “very early stages” of discussing what they’d like to see in the skinny farm bill. -NAFB

Lawmakers in early “Skinny Farm Bill” discussions

Clean Fuels Alliance America filed comments with the Environmental Protection Agency on the “Proposed Renewable Fuel Standards for 2026 and 2027.” Clean Fuels expressed appreciation for the EPA’s intent to provide consistent RFS growth in recognition of U.S. farmers’, feedstock providers’, and biomass-based producers’ investments in new capacity. EPA proposes a robust step-change in biomass-based diesel and advanced biofuel volumes beginning in 2026. 

The agency projects the requirement to reach 5.61 billion gallons in 2026, which is more than two billion gallons higher than in 2025. “The proposal is a welcome signal to U.S. farmers and biofuel producers, and we are ready to meet these higher volumes with domestically-produced fuel,” Kurt Kovarik, Clean Fuels Vice President of Federal Affairs, said, “The industry supplied over five billion gallons of biodiesel, renewable diesel, and SAF in 2024, and we’re poised to deliver more in 2026.” 

Clean Fuels Alliance America filed comments with the Environmental Protection Agency on the “Proposed Renewable Fuel Standards for 2026 and 2027.” Clean Fuels expressed appreciation for the EPA’s intent to provide consistent RFS growth in recognition of U.S. farmers’, feedstock providers’, and biomass-based producers’ investments in new capacity. EPA proposes a robust step-change in biomass-based diesel and advanced biofuel volumes beginning in 2026. The agency projects the requirement to reach 5.61 billion gallons in 2026, which is more than two billion gallons higher than in 2025. “The proposal is a welcome signal to U.S. farmers and biofuel producers, and we are ready to meet these higher volumes with domestically-produced fuel,” Kurt Kovarik, Clean Fuels Vice President of Federal Affairs, said, “The industry supplied over five billion gallons of biodiesel, renewable diesel, and SAF in 2024, and we’re poised to deliver more in 2026.” -NAFB

Clean Fuels asks EPA to sustain robust biodiesel volumes

The University of Missouri Extension is hosting a second annual event designed to empower women in agriculture. 

The 2025 Women in Agriculture night will take place August 21st at the R/Farm Distillery in Mound City, the second event of its kind 

Denise Ferguson with the Missouri Extension in Buchanan County says this type of event is something they are finding they need more of to access a larger audience

"So this is a partnership with the Atchison, Holt, and Nodaway counties soil, water, and conservation district, the Natural Resource Conservation Office, and the FSA office up there," Ferguson says on the KFEQmunnity show.  "They received a grant to cover three counties with Women in Ag events, so last year was the first annual and we did that in Atchison county, this year it's being held in Holt county, and next year it's going to be in Nodaway county."

Ferguson says the event will feature several local vendors and food trucks, but also educational opportunities

"For instance from 4:30 to 5:30 for about an hour, Luke Skinner from the NRCS, he's the area soil health specialist, and he's going to do demonstrations that's going to include rainfall on different ground covers, different scenarios, and he's also going to talk about the grazing schools," Ferguson explains.

&nbsp;Ferguson says this event isn't just for women, it's designed to be about creating community

"Obviously we're targeting women, but it's not limited to women, we just want to create community in the rural areas and educate and share in experiences as far as agriculture," Ferguson says.

The event will run from 4 to 7:30 pm on Thursday August 21st.  Admission is $5.  You can contact the Buchanan County Extension Office or Ferguson for more information.

You can follow Matt on X @KfeqMatt.&nbsp;&nbsp;

By MATT PIKEThe University of Missouri Extension is hosting a second annual event designed to empower women in agriculture. The 2025 Women in Agriculture night will take place August 21st at the R/Farm Distillery in Mound City, the second event of its kind Denise Ferguson with the Missouri Extension in Buchanan County says this type of event is something they are finding they need more of to access a larger audience"So this is a partnership with the Atchison, Holt, and Nodaway counties soil, water, and conservation district, the Natural Resource Conservation Office, and the FSA office up there," Ferguson says on the KFEQmunnity show. "They received a grant to cover three counties with Women in Ag events, so last year was the first annual and we did that in Atchison county, this year it's being held in Holt county, and next year it's going to be in Nodaway county."Ferguson says the event will feature several local vendors and food trucks, but also educational opportunities"For instance from 4:30 to 5:30 for about an hour, Luke Skinner from the NRCS, he's the area soil health specialist, and he's going to do demonstrations that's going to include rainfall on different ground covers, different scenarios, and he's also going to talk about the grazing schools," Ferguson explains.&nbsp;Ferguson says this event isn't just for women, it's designed to be about creating community"Obviously we're targeting women, but it's not limited to women, we just want to create community in the rural areas and educate and share in experiences as far as agriculture," Ferguson says.The event will run from 4 to 7:30 pm on Thursday August 21st. Admission is $5. You can contact the Buchanan County Extension Office or Ferguson for more information.You can follow Matt on X @KfeqMatt.&nbsp;&nbsp;

Local annual event empowering women in agriculture

December corn closed up 2 1/4 cents per bushel at $4.07 3/4 and March corn was up 2 1/4 cents at $4.25 1/4. November soybeans closed up 23 3/4 cents at $10.11 1/4 and January soybeans were up 23 cents at $10.29 1/2. September KC wheat closed up 3/4 cent at $5.19, September Chicago wheat was up 1/2 cent at $5.15 0/1 and September Minneapolis wheat was up 1 cent at $5.77 3/4.

An unusual overnight social media post by President Trump requesting that China quadruple their purchases of U.S. soybeans, along with a statement that China was concerned about their shortage of soybeans sent beans and products surging Monday. Whether or not the mere suggestion would lead to a U.S.-China soybean grain agreement remains to be seen, but it had funds covering some of their shorts. Corn and wheat were modestly higher as well.

Following Friday's tumultuous trade, the live cattle complex scurried back and forth, unsure of what it's supposed to do next. The live cattle contracts traded mixed with a level of uncertainty looming above the marketplace, but all contracts did finish modestly in the green by the closing bell. The market's next support plane lies around $220 in the October contract, and if the market broke below that, it would indeed be a bearish signal for the complex. New showlists appear to be mixed, higher in Kansas and Nebraska/Colorado, but lower in Texas.

Although demand remains red hot in the countryside, the feeder cattle complex continued to trade lower as traders remain unsettled in a technical sense for the bulk of the session, but did manage to finish slightly higher in the nearby contracts by the closing bell. It wouldn't be surprising to see demand slightly softer in the countryside early this week, as buyers would gladly see prices soften given the record highs at which they've currently been.

The lean hog complex ended up trading higher into the closing bell, after chopping sideways for the bulk of the session, as pork cutout values are higher and traders aren't currently pressured by any immediate resistance pressure. The rib (up $5.99), belly (up $5.31) and the picnic (up $5.17) are helping push the carcass price higher more than anything else.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/11144445/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 2 1/4 cents per bushel at $4.07 3/4 and March corn was up 2 1/4 cents at $4.25 1/4. November soybeans closed up 23 3/4 cents at $10.11 1/4 and January soybeans were up 23 cents at $10.29 1/2. September KC wheat closed up 3/4 cent at $5.19, September Chicago wheat was up 1/2 cent at $5.15 0/1 and September Minneapolis wheat was up 1 cent at $5.77 3/4.An unusual overnight social media post by President Trump requesting that China quadruple their purchases of U.S. soybeans, along with a statement that China was concerned about their shortage of soybeans sent beans and products surging Monday. Whether or not the mere suggestion would lead to a U.S.-China soybean grain agreement remains to be seen, but it had funds covering some of their shorts. Corn and wheat were modestly higher as well.LIVESTOCK:Following Friday's tumultuous trade, the live cattle complex scurried back and forth, unsure of what it's supposed to do next. The live cattle contracts traded mixed with a level of uncertainty looming above the marketplace, but all contracts did finish modestly in the green by the closing bell. The market's next support plane lies around $220 in the October contract, and if the market broke below that, it would indeed be a bearish signal for the complex. New showlists appear to be mixed, higher in Kansas and Nebraska/Colorado, but lower in Texas.Although demand remains red hot in the countryside, the feeder cattle complex continued to trade lower as traders remain unsettled in a technical sense for the bulk of the session, but did manage to finish slightly higher in the nearby contracts by the closing bell. It wouldn't be surprising to see demand slightly softer in the countryside early this week, as buyers would gladly see prices soften given the record highs at which they've currently been.The lean hog complex ended up trading higher into the closing bell, after chopping sideways for the bulk of the session, as pork cutout values are higher and traders aren't currently pressured by any immediate resistance pressure. The rib (up $5.99), belly (up $5.31) and the picnic (up $5.17) are helping push the carcass price higher more than anything else. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/11144445/web-closing-markets.mp3">Click HERE for audio</a>

The Renewable Fuel Standard turned 20 on Friday, August 8th. Groups like the National Corn Growers Association celebrated the milestone, noting that since it was signed into law, the RFS has provided immeasurable benefits to Americans. “It has dramatically increased demand for corn, provided significant savings to consumers at the pump, and strengthened America’s energy dominance,” said NCGA President Kenneth Hartman, Jr. 

Clean Fuels Alliance America also celebrated the 20th birthday of the RFS. “Under the RFS, the last twenty years have seen biodiesel and renewable diesel production grow from a few hundred million gallons to five billion gallons, meeting nine percent of the nation’s on-road diesel demand,” said Kurt Kovarik, Clean Fuels’ Vice President of Federal Affairs. “Biodiesel and renewable diesel production are vital for America’s economy, supporting $42.4 billion in economic opportunity.” It also supports ten percent of the value of every soybean grown in the United States’ fields.  

The Renewable Fuel Standard turned 20 on Friday, August 8th. Groups like the National Corn Growers Association celebrated the milestone, noting that since it was signed into law, the RFS has provided immeasurable benefits to Americans. “It has dramatically increased demand for corn, provided significant savings to consumers at the pump, and strengthened America’s energy dominance,” said NCGA President Kenneth Hartman, Jr. Clean Fuels Alliance America also celebrated the 20th birthday of the RFS. “Under the RFS, the last twenty years have seen biodiesel and renewable diesel production grow from a few hundred million gallons to five billion gallons, meeting nine percent of the nation’s on-road diesel demand,” said Kurt Kovarik, Clean Fuels’ Vice President of Federal Affairs. “Biodiesel and renewable diesel production are vital for America’s economy, supporting $42.4 billion in economic opportunity.” It also supports ten percent of the value of every soybean grown in the United States’ fields. -NAFB

The RFS turns 20

The U.S. agricultural trade deficit hit a record high in the first half of 2025. Bloomberg said that only highlights American farmers’ longtime dominant role in world exports, which is hurt by President Donald Trump’s trade wars. Agricultural export value trailed the import value by $4.1 billion in June, a gap that’s 14 percent larger than a year ago. That pushed the ag sector’s trade deficit to $28.6 billion through the first half of 2025. 

For 50 years, the U.S. ag sector has consistently had major trade surpluses, but the growing deficit signals a historic reversal for the sector. The trend shift began in Trump’s first term during the trade war with China. Recent data from the U.S. Commerce Department showed the U.S. exported only $5.5 billion worth of farm goods to China during the first six months of the year, compared to $11.8 billion at the same point last year. 

The U.S. agricultural trade deficit hit a record high in the first half of 2025. Bloomberg said that only highlights American farmers’ longtime dominant role in world exports, which is hurt by President Donald Trump’s trade wars. Agricultural export value trailed the import value by $4.1 billion in June, a gap that’s 14 percent larger than a year ago. That pushed the ag sector’s trade deficit to $28.6 billion through the first half of 2025. For 50 years, the U.S. ag sector has consistently had major trade surpluses, but the growing deficit signals a historic reversal for the sector. The trend shift began in Trump’s first term during the trade war with China. Recent data from the U.S. Commerce Department showed the U.S. exported only $5.5 billion worth of farm goods to China during the first six months of the year, compared to $11.8 billion at the same point last year. -NAFB

U.S. ag trade deficit continues climbing in 2025

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

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

Markets looked poised to extend their late-week rally into the weekend early Friday, but momentum waned as the session wore on as traders are likely awaiting the USDA next week to offer clues on price direction through the remaining weeks ahead of the 2025 U.S. harvest. In outside markets for Friday, equities are heading higher to round out a back-and-forth week as investors weigh the uncertainties of this week's latest tariff developments, while preparing for next week's inflation reading. Crude oil futures also bounced off daily lows and the lowest price since early June, prior to the Israel-Iran conflict, and if values hold will narrowly avoid lower trade for each day this week.

If today's action isn't evidence of what emotional volatility can look like, then I don't know what would be. The live cattle complex fronted a magnificent rally throughout the week, only to come crashing lower on Friday. Why, you ask? Good question. One could say that traders have exhausted their efforts, someone could say that tariff chatters are taking their toll, another could highlight that traders are anxious as they've yet to see what fed cash cattle prices are going to do, but more than anything, today's reverse action compared to the rest of the week simply comes as an emotion knee-jerk reaction as traders themselves don't know what else to do with the contracts at this point. On Thursday, the spot October contract closed at yet another new contract high, and although the market is currently seeing an unseasonal rally in boxed beef prices, traders are anxious to see what develops this week in the fed cash cattle market.

Following the live cattle market's direction, the feeder cattle complex traded sharply lower after scoring new all-time highs in the futures complex just yesterday afternoon. Today's action could have a slightly negative effect on the sale barns having sales today, but still, prices will remain high, as the fact isn't changing anytime soon that supplies are tight.

The lean hog complex traded mixed into Friday's closing bell, as the market has again seemed to establish some footing into the futures complex, and it's helpful that pork prices are higher, too. Given that today's trade was mixed in its nature, it's likely the contracts may be able to keep their somewhat higher trend into the early part of next week.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/08143703/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:September corn closed down 1 3/4 cents and December corn was down 1 1/2 cents. September soybeans closed down 6 1/4 cents and November soybeans were down 6 1/4 cents. September KC wheat closed down 3 1/4 cents, September Chicago wheat was down 3 3/4 cents, September Minneapolis wheat was up 2 3/4 cents.For the week:September corn closed down 6 3/4 cents and December corn was down 5 1/4 cents. September soybeans closed down 1 3/4 cents and November soybeans were down 1 3/4 cents. September KC wheat closed down 1/2 cents, September Chicago wheat was down 2 1/4 cents and September Minneapolis wheat was up 4 1/2 cents.Markets looked poised to extend their late-week rally into the weekend early Friday, but momentum waned as the session wore on as traders are likely awaiting the USDA next week to offer clues on price direction through the remaining weeks ahead of the 2025 U.S. harvest. In outside markets for Friday, equities are heading higher to round out a back-and-forth week as investors weigh the uncertainties of this week's latest tariff developments, while preparing for next week's inflation reading. Crude oil futures also bounced off daily lows and the lowest price since early June, prior to the Israel-Iran conflict, and if values hold will narrowly avoid lower trade for each day this week.LIVESTOCK:If today's action isn't evidence of what emotional volatility can look like, then I don't know what would be. The live cattle complex fronted a magnificent rally throughout the week, only to come crashing lower on Friday. Why, you ask? Good question. One could say that traders have exhausted their efforts, someone could say that tariff chatters are taking their toll, another could highlight that traders are anxious as they've yet to see what fed cash cattle prices are going to do, but more than anything, today's reverse action compared to the rest of the week simply comes as an emotion knee-jerk reaction as traders themselves don't know what else to do with the contracts at this point. On Thursday, the spot October contract closed at yet another new contract high, and although the market is currently seeing an unseasonal rally in boxed beef prices, traders are anxious to see what develops this week in the fed cash cattle market. Following the live cattle market's direction, the feeder cattle complex traded sharply lower after scoring new all-time highs in the futures complex just yesterday afternoon. Today's action could have a slightly negative effect on the sale barns having sales today, but still, prices will remain high, as the fact isn't changing anytime soon that supplies are tight.The lean hog complex traded mixed into Friday's closing bell, as the market has again seemed to establish some footing into the futures complex, and it's helpful that pork prices are higher, too. Given that today's trade was mixed in its nature, it's likely the contracts may be able to keep their somewhat higher trend into the early part of next week.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/08143703/web-closing-markets.mp3">Click HERE for audio</a>

July runoff in the Missouri River Basin above Sioux City, Iowa, was two million acre-feet, 62 percent of the average. The annual runoff forecast above Sioux City is 19.2 million acre-feet, 75 percent of the average. “Above-normal precipitation occurred in much of the basin, though areas of western Montana and Wyoming continue to be very dry,” said John Remus of the U.S. Army Corps of Engineers. 

“The dry soil moisture, below-normal rainfall in the mountains, and below-normal mountain snowpack runoff have led to well below-average reservoir inflows into the Fort Peck and Garrison reaches on the river.” The U.S. Drought Monitor indicated that 53 percent of the basin was not experiencing drought conditions, an improvement of 15 percent since July 1. System storage on August 1 was down only slightly from July. The Drought Outlook indicates drought conditions are expected to persist or expand throughout the basin through the end of October. 

July runoff in the Missouri River Basin above Sioux City, Iowa, was two million acre-feet, 62 percent of the average. The annual runoff forecast above Sioux City is 19.2 million acre-feet, 75 percent of the average. “Above-normal precipitation occurred in much of the basin, though areas of western Montana and Wyoming continue to be very dry,” said John Remus of the U.S. Army Corps of Engineers. “The dry soil moisture, below-normal rainfall in the mountains, and below-normal mountain snowpack runoff have led to well below-average reservoir inflows into the Fort Peck and Garrison reaches on the river.” The U.S. Drought Monitor indicated that 53 percent of the basin was not experiencing drought conditions, an improvement of 15 percent since July 1. System storage on August 1 was down only slightly from July. The Drought Outlook indicates drought conditions are expected to persist or expand throughout the basin through the end of October. -NAFB

Missouri River runoff in July was below average

The U.S. Department of Agriculture’s National Agricultural Statistics Service recently released its 2025 Land Values Summary. The U.S. farm real estate value, a measurement of the value of all land and buildings on farms, averaged $4,350 per acre for 2025, up $180 per acre, or 4.3 percent, from 2024. California was the most expensive in the country, with farmland real estate valued at $13,700 per acre, up 2.2 percent from the previous year. 

The U.S. cropland value averaged $5,830 per acre, an increase of $260 per acre, or 4.7 percent, from the prior year. It’s up significantly from 2011, when the average cropland value was $2,980. California’s cropland value was $17,940, up 3.6 percent from the previous year, while Iowa’s cropland averaged $10,300 an acre, up 5.1 percent from 2024. The United States pasture value averaged $1,920 per acre, an increase of $90 per acre, or 4.9 percent, from 2024. 

The U.S. Department of Agriculture’s National Agricultural Statistics Service recently released its 2025 Land Values Summary. The U.S. farm real estate value, a measurement of the value of all land and buildings on farms, averaged $4,350 per acre for 2025, up $180 per acre, or 4.3 percent, from 2024. California was the most expensive in the country, with farmland real estate valued at $13,700 per acre, up 2.2 percent from the previous year. The U.S. cropland value averaged $5,830 per acre, an increase of $260 per acre, or 4.7 percent, from the prior year. It’s up significantly from 2011, when the average cropland value was $2,980. California’s cropland value was $17,940, up 3.6 percent from the previous year, while Iowa’s cropland averaged $10,300 an acre, up 5.1 percent from 2024. The United States pasture value averaged $1,920 per acre, an increase of $90 per acre, or 4.9 percent, from 2024. -NAFB

Farm real estate values top $4,000 per acre

September corn closed up 4 3/4 cents and December corn was up 5 3/4 cents. September soybeans closed up 8 1/2 cents and November soybeans were up 9 1/4 cents. September KC wheat closed up 10 cents, September Chicago wheat was up 9 3/4 cents, September Minneapolis wheat was up 7 cents.

Ag markets were able to build off the late-session momentum seen Wednesday to trade higher Thursday in what was a widespread recovery session from a very bearish start to the week. Time will have to tell whether this is the start of a sustained bottoming attempt or simply another quick round of short-covering; but historical seasonality would suggest August or September is typically where corn and soy markets tend to look for a bottom. Traders will look to USDA to add to the recent yield forecast debate next Tuesday. In outside markets, crude oil futures are quickly back trading among the lowest prices seen since late June after five consecutive sessions lower, heading for a sixth on Thursday. Equities began Thursday higher before turning sharply lower by late morning as investors express uncertainty as the latest round of reciprocal tariffs officially go into effect Thursday following months of deals and deadline extensions.

With the unseasonal rally in boxed beef prices, the live cattle complex continues to challenge the market's resistance threshold, which also happens to be its all-time market high, as the cattle complex's strong fundamental footing of limited supplies amid unfathomable demand continues to lend support beyond anyone's wildest belief. It will be especially interesting to see what develops this week in the fed cash cattle market as though packers were able to buy some supply last week and commit those cattle to the nearby delivery option, they still need to stay engaged enough in the market to avoid being short bought in the weeks ahead and feedlot managers haven't been easy for packers to deal with in recent weeks either. Asking prices are firm in the South at $238 to $240, but are still not established in the North.

The feeder cattle complex again pushed into the closing bell fully and significantly higher. The slight pullback in the August contract likely has more to do with the fact that traders are moving their positions from the August contract into the currently most actively traded September contract, and not because of any fundamental rhyme or reason, as demand is just robust in the countryside; there's no other way to describe it.

One would think that on a day when midday pork cutout values are up over $4.00, the lean hog market would be rejoicing. With traders battling resistance pressure and with the morning's export sales report weaker, the market traded lower into the closing bell on Thursday. More than anything, it seems as though the market's resistance pressure is affecting traders most. Although they thought they had enough support to drive the complex higher earlier this week, the market's fundamentals haven't been as collectively supportive as initially hoped for.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/07143716/web-closing-markets.mp3">Click HERE for Audio</a>

By: NATHAN STUEDLEGRAINS:September corn closed up 4 3/4 cents and December corn was up 5 3/4 cents. September soybeans closed up 8 1/2 cents and November soybeans were up 9 1/4 cents. September KC wheat closed up 10 cents, September Chicago wheat was up 9 3/4 cents, September Minneapolis wheat was up 7 cents.Ag markets were able to build off the late-session momentum seen Wednesday to trade higher Thursday in what was a widespread recovery session from a very bearish start to the week. Time will have to tell whether this is the start of a sustained bottoming attempt or simply another quick round of short-covering; but historical seasonality would suggest August or September is typically where corn and soy markets tend to look for a bottom. Traders will look to USDA to add to the recent yield forecast debate next Tuesday. In outside markets, crude oil futures are quickly back trading among the lowest prices seen since late June after five consecutive sessions lower, heading for a sixth on Thursday. Equities began Thursday higher before turning sharply lower by late morning as investors express uncertainty as the latest round of reciprocal tariffs officially go into effect Thursday following months of deals and deadline extensions.LIVESTOCK:With the unseasonal rally in boxed beef prices, the live cattle complex continues to challenge the market's resistance threshold, which also happens to be its all-time market high, as the cattle complex's strong fundamental footing of limited supplies amid unfathomable demand continues to lend support beyond anyone's wildest belief. It will be especially interesting to see what develops this week in the fed cash cattle market as though packers were able to buy some supply last week and commit those cattle to the nearby delivery option, they still need to stay engaged enough in the market to avoid being short bought in the weeks ahead and feedlot managers haven't been easy for packers to deal with in recent weeks either. Asking prices are firm in the South at $238 to $240, but are still not established in the North. The feeder cattle complex again pushed into the closing bell fully and significantly higher. The slight pullback in the August contract likely has more to do with the fact that traders are moving their positions from the August contract into the currently most actively traded September contract, and not because of any fundamental rhyme or reason, as demand is just robust in the countryside; there's no other way to describe it. One would think that on a day when midday pork cutout values are up over $4.00, the lean hog market would be rejoicing. With traders battling resistance pressure and with the morning's export sales report weaker, the market traded lower into the closing bell on Thursday. More than anything, it seems as though the market's resistance pressure is affecting traders most. Although they thought they had enough support to drive the complex higher earlier this week, the market's fundamentals haven't been as collectively supportive as initially hoped for.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/07143716/web-closing-markets.mp3">Click HERE for Audio</a>

AccuWeather long-range experts say the transition to autumn will bring cooler air and sweater weather to millions of Americans. Others will be dealing with lingering summer heat, tropical storms, hurricanes, wildfires, or a smoky haze obscuring the sky. “Areas in the middle of the country, including Kansas to Wisconsin, will experience very pleasant and calm stretches of fall weather that will be perfect for fairs, festivals, and outdoor events like harvest,” said Long Range Expert Paul Pastelok. 

AccuWeather long-range experts say the transition to autumn will bring cooler air and sweater weather to millions of Americans. Others will be dealing with lingering summer heat, tropical storms, hurricanes, wildfires, or a smoky haze obscuring the sky. “Areas in the middle of the country, including Kansas to Wisconsin, will experience very pleasant and calm stretches of fall weather that will be perfect for fairs, festivals, and outdoor events like harvest,” said Long Range Expert Paul Pastelok.

Some predictions says fall may bring warmth and fuel wildfires

Uncertainty surrounding U.S. biofuel policy and continued trade tensions pushed second-quarter profits to multi-year lows for multiple crop trading companies, including ADM and Bunge. Ag equipment manufacturers also warned customers that increasing trade tensions will cause increased equipment prices in the second half of 2025. Reports show ADM posted its lowest second-quarter profit in five years as trade challenges and uncertain biofuel policies slowed sales and hurt trading and crop processing margins. 

The company said that full-year 2025 adjusted earnings could drop to around $4 a share, the lowest since 2020. ADM, Bunge, and Cargill have reported eroding profits in recent quarters because of ample crop supplies and thinning margins. One report showed adjusted earnings of $1.31 per share for the three months ending in June, the lowest point since 2018. AGCO Corporation and CNH Industrial also say customers will soon feel the impact of tariffs due to higher prices.

Uncertainty surrounding U.S. biofuel policy and continued trade tensions pushed second-quarter profits to multi-year lows for multiple crop trading companies, including ADM and Bunge. Ag equipment manufacturers also warned customers that increasing trade tensions will cause increased equipment prices in the second half of 2025. Reports show ADM posted its lowest second-quarter profit in five years as trade challenges and uncertain biofuel policies slowed sales and hurt trading and crop processing margins. The company said that full-year 2025 adjusted earnings could drop to around $4 a share, the lowest since 2020. ADM, Bunge, and Cargill have reported eroding profits in recent quarters because of ample crop supplies and thinning margins. One report showed adjusted earnings of $1.31 per share for the three months ending in June, the lowest point since 2018. AGCO Corporation and CNH Industrial also say customers will soon feel the impact of tariffs due to higher prices.-NAFB

Uncertainty hits agribusiness profits

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/06143944/web-closing-markets.mp3">HERE</a> to listen to the Wednesday closing markets.

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

The U.S. Dollar Index is down 0.59 at 98.19. The Dow Jones Industrial Average is up 130.0 points at 44,366.0. December gold is down $2.10 at $3,432.60, September silver is up $0.11 at $37.94 and September copper is up $0.0255. September crude oil is down $0.87 at $64.29, September ultra-low sulfur diesel is up $0.0075, September RBOB gasoline is down $0.0025 and September natural gas is up $0.073.

September corn futures dropped another 1 3/4 cents on Wednesday, closing at $3.79 3/4. December futures were also down 3/4 cents to $4.01 1/4. December futures bears appeared to be making easy work of the $4.00 mark early Wednesday, before late-session bargain buyers stepped in to send prices back above the key level at least for now. For reference, the December 2024 board traded to a low price of $3.85 last August before reversing on late-season dryness, which ultimately trimmed the top end off U.S. yields as well. Seasonally speaking, August and September is a period where markets tend to look for a low.

Wednesday's EIA Petroleum Status report showed ethanol production in the U.S. averaged 1.081 million barrels per day last week, a decline of 15,000 barrels per day from the prior week's average. Last Friday, USDA reported the June monthly corn grind for ethanol in the U.S. totaled just under 448 million bushels (mb), lower than I had anticipated. Corn usage for ethanol through the marketing season has steadily lost its lead over 2023-24 after a very hot start last fall and is now just a 0.2% lead over last year, with USDA forecasting a 0.4% year-over-year increase. July and August are always wild cards for ethanol production, but at this rate, it seems unlikely that the U.S. will hit the USDA goal of 5.5 billion bushels in 2024-25. In positive news, ethanol margins remain steady with this week's USDA coproducts report showing that a bushel of corn produces $6.64 worth of products value in the Eastern Corn Belt. Ethanol exports are also strong, with June exports setting a monthly record at 173.7 million gallons. Ethanol exports to date are up 10%.

Traders will likely begin to look ahead to next week's WASDE report, where an increase in the corn yield estimate seems likely given the growing conditions thus far. That being said, I don't expect as bearish a forecast as compared to some of the private estimates being released in recent days, as USDA tends to slow play these developments, especially ahead of harvest. Perhaps this will serve as an opportunity for traders and algorithms to reset and offer some support to sinking prices. The aspect of next week's report that does keep me somewhat nervous is what USDA will find for old crop stocks, with the old crop price and spread action through summer certainly pointing to more corn relative to demand than has been estimated in this year's WASDE reports thus far.

The DTN National Corn Index finished Tuesday at $3.65. Wednesday's futures close and implied corn basis of 16 cents under the September board would indicate the Index on Wednesday afternoon to be near $3.63.

September soybeans fell 6 cents on Wednesday to $9.65 1/2. November soybeans were down 6 1/4 cents to $9.84 1/2. An early attempt higher in the soybean market was again met with fierce selling, dropping prices closer to the bearish objective of the early April low in the mid $9.70s for the November board.

Early strength in the soybean market can likely be attributed to ongoing rumors that the U.S. and China are closing in on an agreement, although traders may be losing some faith in these assertions as the weeks keep coming and going with no confirmed soybean business with China for the new crop season. Soybean oil futures were also able to trade higher on Wednesday, primarily on wider energy market strength at mid-week. Late session selling can most likely be tied to early yield forecasts from private firms, all of which are coming in above USDA's official record 52.5 bpa forecast.

The next few weeks of weather will be important for the soybean crop. Temperatures are slated to be above average across the majority of key growing regions, while rainfall chances are certainly present but may be scattered in some regions. The good news is that soil moisture levels through the wet July should be adequate to allow crops to sustain through a period of dryness if it comes to that.

The DTN National Soybean Index finished Tuesday at $9.34. Wednesday's futures close and implied soybean basis of 57 cents under the November board would indicate the Index on Wednesday afternoon to be near $9.28.

September Kansas City futures closed up 7 cents to $5.11 1/2 on Wednesday. Chicago futures were quiet, trading 1/4 cents higher on September futures. While MIAX Minneapolis spring wheat futures continued to struggle to find upward momentum, with the September contract down 1 1/2 cents in a quiet, narrow session. September KC futures were able to rebound from ugly price action on Tuesday, which set the lowest close for the most active hard red contract in just under five years. The short-term bullish target would be a pullback towards the 20-day moving average near $5.22 3/4.

In world wheat news, harvest is progressing in Russia with mixed results. The weekly International Grains Council (IGC) write-up noted improved yield prospects as harvest moves to the central regions, but also the potential for quality issues, namely low test weight. Private group SovEcon lowered its production forecast to 83.3 million metric tons (mmt), just a touch below the USDA July estimate of 83.5 mmt. Overall, traders in the marketplace are viewing a steady Russian crop, improved EU crop and good early prospects for both Argentine and Australian crops due later in 2025 as reasons for little concern regarding wheat availability. In good news, U.S. wheat offers remain competitive, with IGC noting hard red Gulf offers last week at $228 per ton, lower than most competing offers in their weekly rundown.

The DTN National HRW Index finished Tuesday at $4.52, while the DTN National HRS Index was at $5.27. Wednesday's futures close an implied basis of 53 cents under the September board for HRW, and 43 cents under the September board for HRS, would indicate the indices for Wednesday afternoon to be near $4.59 and $5.25, respectively.

By MATT PIKEClick <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/06143944/web-closing-markets.mp3">HERE</a> to listen to the Wednesday closing markets.GENERAL COMMENTS:September corn closed down 1 3/4 cents and December corn was down 3/4 cents. September soybeans closed down 6 cents and November soybeans were down 6 1/4 cents. September KC wheat closed up 7 cents, September Chicago wheat was up 1/4 cents, September MIAX Minneapolis wheat was down 1 1/2 cents.The U.S. Dollar Index is down 0.59 at 98.19. The Dow Jones Industrial Average is up 130.0 points at 44,366.0. December gold is down $2.10 at $3,432.60, September silver is up $0.11 at $37.94 and September copper is up $0.0255. September crude oil is down $0.87 at $64.29, September ultra-low sulfur diesel is up $0.0075, September RBOB gasoline is down $0.0025 and September natural gas is up $0.073.CORN:September corn futures dropped another 1 3/4 cents on Wednesday, closing at $3.79 3/4. December futures were also down 3/4 cents to $4.01 1/4. December futures bears appeared to be making easy work of the $4.00 mark early Wednesday, before late-session bargain buyers stepped in to send prices back above the key level at least for now. For reference, the December 2024 board traded to a low price of $3.85 last August before reversing on late-season dryness, which ultimately trimmed the top end off U.S. yields as well. Seasonally speaking, August and September is a period where markets tend to look for a low.Wednesday's EIA Petroleum Status report showed ethanol production in the U.S. averaged 1.081 million barrels per day last week, a decline of 15,000 barrels per day from the prior week's average. Last Friday, USDA reported the June monthly corn grind for ethanol in the U.S. totaled just under 448 million bushels (mb), lower than I had anticipated. Corn usage for ethanol through the marketing season has steadily lost its lead over 2023-24 after a very hot start last fall and is now just a 0.2% lead over last year, with USDA forecasting a 0.4% year-over-year increase. July and August are always wild cards for ethanol production, but at this rate, it seems unlikely that the U.S. will hit the USDA goal of 5.5 billion bushels in 2024-25. In positive news, ethanol margins remain steady with this week's USDA coproducts report showing that a bushel of corn produces $6.64 worth of products value in the Eastern Corn Belt. Ethanol exports are also strong, with June exports setting a monthly record at 173.7 million gallons. Ethanol exports to date are up 10%.Traders will likely begin to look ahead to next week's WASDE report, where an increase in the corn yield estimate seems likely given the growing conditions thus far. That being said, I don't expect as bearish a forecast as compared to some of the private estimates being released in recent days, as USDA tends to slow play these developments, especially ahead of harvest. Perhaps this will serve as an opportunity for traders and algorithms to reset and offer some support to sinking prices. The aspect of next week's report that does keep me somewhat nervous is what USDA will find for old crop stocks, with the old crop price and spread action through summer certainly pointing to more corn relative to demand than has been estimated in this year's WASDE reports thus far.The DTN National Corn Index finished Tuesday at $3.65. Wednesday's futures close and implied corn basis of 16 cents under the September board would indicate the Index on Wednesday afternoon to be near $3.63.SOYBEANS:September soybeans fell 6 cents on Wednesday to $9.65 1/2. November soybeans were down 6 1/4 cents to $9.84 1/2. An early attempt higher in the soybean market was again met with fierce selling, dropping prices closer to the bearish objective of the early April low in the mid $9.70s for the November board.Early strength in the soybean market can likely be attributed to ongoing rumors that the U.S. and China are closing in on an agreement, although traders may be losing some faith in these assertions as the weeks keep coming and going with no confirmed soybean business with China for the new crop season. Soybean oil futures were also able to trade higher on Wednesday, primarily on wider energy market strength at mid-week. Late session selling can most likely be tied to early yield forecasts from private firms, all of which are coming in above USDA's official record 52.5 bpa forecast.The next few weeks of weather will be important for the soybean crop. Temperatures are slated to be above average across the majority of key growing regions, while rainfall chances are certainly present but may be scattered in some regions. The good news is that soil moisture levels through the wet July should be adequate to allow crops to sustain through a period of dryness if it comes to that.The DTN National Soybean Index finished Tuesday at $9.34. Wednesday's futures close and implied soybean basis of 57 cents under the November board would indicate the Index on Wednesday afternoon to be near $9.28.WHEAT:September Kansas City futures closed up 7 cents to $5.11 1/2 on Wednesday. Chicago futures were quiet, trading 1/4 cents higher on September futures. While MIAX Minneapolis spring wheat futures continued to struggle to find upward momentum, with the September contract down 1 1/2 cents in a quiet, narrow session. September KC futures were able to rebound from ugly price action on Tuesday, which set the lowest close for the most active hard red contract in just under five years. The short-term bullish target would be a pullback towards the 20-day moving average near $5.22 3/4.In world wheat news, harvest is progressing in Russia with mixed results. The weekly International Grains Council (IGC) write-up noted improved yield prospects as harvest moves to the central regions, but also the potential for quality issues, namely low test weight. Private group SovEcon lowered its production forecast to 83.3 million metric tons (mmt), just a touch below the USDA July estimate of 83.5 mmt. Overall, traders in the marketplace are viewing a steady Russian crop, improved EU crop and good early prospects for both Argentine and Australian crops due later in 2025 as reasons for little concern regarding wheat availability. In good news, U.S. wheat offers remain competitive, with IGC noting hard red Gulf offers last week at $228 per ton, lower than most competing offers in their weekly rundown.The DTN National HRW Index finished Tuesday at $4.52, while the DTN National HRS Index was at $5.27. Wednesday's futures close an implied basis of 53 cents under the September board for HRW, and 43 cents under the September board for HRS, would indicate the indices for Wednesday afternoon to be near $4.59 and $5.25, respectively.

More than 1,600 Hormel workers have filed a class action lawsuit alleging that the meat processor violated Minnesota’s earned sick and safe time law for 14 months by forcing workers to use vacation time if they called in sick. Tim Louris, the attorney representing the workers at the Austin, Minnesota, plant, said Hormel refused to give most of the production, maintenance, and quality control employees additional paid leave when the sick and safe time law took effect last year. 

The sick and safe time law requires employers to provide one hour of paid leave for every 30 hours worked – up to six days a year for a full-time employee. The workers’ union, challenged Hormel, and a labor arbitrator ruled earlier this year that the company couldn’t use paid vacation to comply with the state’s law. Hormel said in a statement that it will not comment on pending litigation. 

More than 1,600 Hormel workers have filed a class action lawsuit alleging that the meat processor violated Minnesota’s earned sick and safe time law for 14 months by forcing workers to use vacation time if they called in sick. Tim Louris, the attorney representing the workers at the Austin, Minnesota, plant, said Hormel refused to give most of the production, maintenance, and quality control employees additional paid leave when the sick and safe time law took effect last year. The sick and safe time law requires employers to provide one hour of paid leave for every 30 hours worked – up to six days a year for a full-time employee. The workers’ union, challenged Hormel, and a labor arbitrator ruled earlier this year that the company couldn’t use paid vacation to comply with the state’s law. Hormel said in a statement that it will not comment on pending litigation. -NAFB

Workers sue Hormel Foods over sick leave

The Purdue University/CME Group Ag Economy Barometer declined in July as farmer sentiment continued to weaken. The barometer fell 11 points from June to register at 135 in July, a reading that came from U.S. farmers’ weaker perceptions of both current conditions and future expectations. The July Current Conditions Index dropped 17 points from the previous month to 127.  The Future Expectations Index posted a smaller drop of seven points to 139. 

Driving the weaker income prospects for 2025 were farmers’ assessments of current conditions. Despite lower scores on the three principal farmer sentiment indexes, sentiment still remains notably higher than at the same time a year ago. Almost three-fourths of the July survey respondents reported that U.S. policy is headed in the right direction. The Farm Financial Performance Index reflected concerns about weak income prospects for 2025, falling 14 points from June to 90. The Farmland Value Expectations Index was also lower. 

The Purdue University/CME Group Ag Economy Barometer declined in July as farmer sentiment continued to weaken. The barometer fell 11 points from June to register at 135 in July, a reading that came from U.S. farmers’ weaker perceptions of both current conditions and future expectations. The July Current Conditions Index dropped 17 points from the previous month to 127. The Future Expectations Index posted a smaller drop of seven points to 139. Driving the weaker income prospects for 2025 were farmers’ assessments of current conditions. Despite lower scores on the three principal farmer sentiment indexes, sentiment still remains notably higher than at the same time a year ago. Almost three-fourths of the July survey respondents reported that U.S. policy is headed in the right direction. The Farm Financial Performance Index reflected concerns about weak income prospects for 2025, falling 14 points from June to 90. The Farmland Value Expectations Index was also lower. -NAFB

Farmer sentiment grows weaker

September corn closed down 5 1/2 cents and December corn was down 5 cents. September soybeans closed down 3 3/4 cents and November soybeans were down 3 3/4 cents. September KC wheat closed down 12 1/2 cents, September Chicago wheat was down 8 1/2 cents, September Minneapolis wheat was down 2 3/4 cents.

What bullish spark there was in the soybean market early Tuesday was quick to fade by midmorning as prices turned lower amid bearish influence from surrounding ag markets. Corn futures fell once again to new lows as there is just little bullish news to be found to break traders' focus on recent unveiling of a number of private yield estimates which are all coming in well above the USDA trendline forecast. For wheat markets, a fresh burst of harvest pressure sank winter wheat varieties Tuesday, as traders see little reason for concern regarding available wheat supplies in the immediate future. Outside markets for Tuesday also leaned negatively on ag interests, with crude oil markets still feeling the weight of heightened production from OPEC+. Meanwhile equities turned lower as well by midmorning, caught between growth prospects from an assumed impending interest rate cut in the next FOMC meeting in September and lingering uncertainty regarding the next step in the tariff/trade war.

The live cattle complex was off to a sporty rally throughout the day, as traders seem to be more confident in the market's fundamental footing than they were on Monday. There are a few asking prices now noted in the South at $238 to $240, but the North continues to remain quiet. It's unlikely that any cash cattle trade will develop until Thursday or Friday. The market still has some upward room to trade as the resistance plane sits at $230.

The feeder cattle complex had an aggressive rally for the day as all of the contracts traded $5.00 and more higher for the bulk of the session. More than anything, it seems as though traders have shaken the jitters they possessed on Monday and are now back to believing in the market's robust fundamental position. Feeder cattle demand in the countryside hasn't wavered whatsoever, and doesn't seem to care what the board is doing, as buyers know that supplies are thin and that that isn't going to change any time soon.

The lean hog complex continued to trade higher into Tuesday's closing bell as traders have found enough support in the marketplace to blow past the market's previous resistance at $91.00. It's difficult to say where traders are getting this extra momentum from, as we can't see what pork demand is doing because of packers' failure to submit data this morning, but the slight improvement in the cash market is surely helping.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/05142825/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:September corn closed down 5 1/2 cents and December corn was down 5 cents. September soybeans closed down 3 3/4 cents and November soybeans were down 3 3/4 cents. September KC wheat closed down 12 1/2 cents, September Chicago wheat was down 8 1/2 cents, September Minneapolis wheat was down 2 3/4 cents.What bullish spark there was in the soybean market early Tuesday was quick to fade by midmorning as prices turned lower amid bearish influence from surrounding ag markets. Corn futures fell once again to new lows as there is just little bullish news to be found to break traders' focus on recent unveiling of a number of private yield estimates which are all coming in well above the USDA trendline forecast. For wheat markets, a fresh burst of harvest pressure sank winter wheat varieties Tuesday, as traders see little reason for concern regarding available wheat supplies in the immediate future. Outside markets for Tuesday also leaned negatively on ag interests, with crude oil markets still feeling the weight of heightened production from OPEC+. Meanwhile equities turned lower as well by midmorning, caught between growth prospects from an assumed impending interest rate cut in the next FOMC meeting in September and lingering uncertainty regarding the next step in the tariff/trade war.LIVESTOCK:The live cattle complex was off to a sporty rally throughout the day, as traders seem to be more confident in the market's fundamental footing than they were on Monday. There are a few asking prices now noted in the South at $238 to $240, but the North continues to remain quiet. It's unlikely that any cash cattle trade will develop until Thursday or Friday. The market still has some upward room to trade as the resistance plane sits at $230.The feeder cattle complex had an aggressive rally for the day as all of the contracts traded $5.00 and more higher for the bulk of the session. More than anything, it seems as though traders have shaken the jitters they possessed on Monday and are now back to believing in the market's robust fundamental position. Feeder cattle demand in the countryside hasn't wavered whatsoever, and doesn't seem to care what the board is doing, as buyers know that supplies are thin and that that isn't going to change any time soon.The lean hog complex continued to trade higher into Tuesday's closing bell as traders have found enough support in the marketplace to blow past the market's previous resistance at $91.00. It's difficult to say where traders are getting this extra momentum from, as we can't see what pork demand is doing because of packers' failure to submit data this morning, but the slight improvement in the cash market is surely helping.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/05142825/web-closing-markets.mp3">Click HERE for audio</a>