Groups representing U.S. farmers have filed a brief encouraging the Supreme Court to hear a case on labeling for glyphosate and other pesticides. The groups, which represent a broad swath of agriculture and cover over 300 million acres, argue that glyphosate is a “once-in-a-century” herbicide given its effectiveness at controlling an array of damaging weeds, affordability, and low toxicity. However, uncertainty created by inaccurate interpretations of pesticide labeling requirements has risked farmers’ access to glyphosate and other indispensable tools. 

The question at the center of the case, Durnell v. Monsanto, is whether manufacturers of glyphosate or other pesticides are liable under state law for failure to warn of alleged cancer or other health risks when federal regulators have thoroughly evaluated the safety of the product and determined their uses are safe. The groups say the Federal Insecticide, Fungicide, and Rodenticide Act prevents states from imposing labeling requirements different from EPA findings.   

Groups representing U.S. farmers have filed a brief encouraging the Supreme Court to hear a case on labeling for glyphosate and other pesticides. The groups, which represent a broad swath of agriculture and cover over 300 million acres, argue that glyphosate is a “once-in-a-century” herbicide given its effectiveness at controlling an array of damaging weeds, affordability, and low toxicity. However, uncertainty created by inaccurate interpretations of pesticide labeling requirements has risked farmers’ access to glyphosate and other indispensable tools. The question at the center of the case, Durnell v. Monsanto, is whether manufacturers of glyphosate or other pesticides are liable under state law for failure to warn of alleged cancer or other health risks when federal regulators have thoroughly evaluated the safety of the product and determined their uses are safe. The groups say the Federal Insecticide, Fungicide, and Rodenticide Act prevents states from imposing labeling requirements different from EPA findings. -NAFB

Supreme Court hearing on glyphosate case

The U.S. Department of Agriculture announced several Conservation Reserve Program enrollment opportunities for agricultural producers and landowners. USDA’s Farm Service Agency is accepting offers for both the General and Continuous CRP now through June 6, 2025. CRP has long been USDA’s flagship conservation program and celebrates its 40th anniversary this year.&nbsp; FSA Administrator Bill Beam says, "With 1.8 million acres available for all CRP enrollment this fiscal year, we are very aware that we are bumping up against the statutory 27-million-acre cap.”&nbsp;&nbsp;

Beam also said that with the limited number of acres available, they’re not necessarily looking for the most acres offered but instead are prioritizing mindful conservation efforts to ensure that FSA maximizes the return on investment from both a conservation and an economic perspective. 

By: NATHAN STUEDLESt. Joseph PostThe U.S. Department of Agriculture announced several Conservation Reserve Program enrollment opportunities for agricultural producers and landowners. USDA’s Farm Service Agency is accepting offers for both the General and Continuous CRP now through June 6, 2025. CRP has long been USDA’s flagship conservation program and celebrates its 40th anniversary this year.&nbsp; FSA Administrator Bill Beam says, "With 1.8 million acres available for all CRP enrollment this fiscal year, we are very aware that we are bumping up against the statutory 27-million-acre cap.”&nbsp;&nbsp;Beam also said that with the limited number of acres available, they’re not necessarily looking for the most acres offered but instead are prioritizing mindful conservation efforts to ensure that FSA maximizes the return on investment from both a conservation and an economic perspective.

USDA announces several CRP signups

July corn closed up 3 cents per bushel at $4.45 1/2 and December corn was down 1/2 cents at $4.40 1/2. July soybeans closed up 5 1/4 cents at $10.77 3/4 and November soybeans were up 1 3/4 cents at $10.61 1/4. July KC wheat closed up 11 1/4 cents at $5.23, July Chicago wheat was up 7 1/2 cents at $5.24 3/4 and July Minneapolis wheat was down 3 3/4 cents at $5.77.

Corn futures ended Wednesday in mixed fashion, with spot July rallying back to close firm, while new-crop December gravitated around unchanged for much of the day. In the weekly petroleum status report from the EIA, ethanol production slipped close to 3% from last week to 993,000 barrels per day. With another four to five days of mostly clear weather ahead for the central U.S., the corn planting pace is already well ahead of the average pace, which should continue to advance quickly. Nearby futures continue to be supported by the higher exports and tightening U.S. and world supply.

Perhaps the biggest story on Wednesday is the continued ascent of July bean oil futures, closing into a new high and finishing higher for the fifth consecutive day. That was instrumental in getting soybeans to close higher as well. Traders are optimistic that a new bill proposed by Congress would possibly extend the 45Z biofuel credit for several more years if it were passed. Another aspect of the same bill would be to restrict the use of foreign feedstocks including used cooking oil (UCO) from China. The net effect of such a bill would be to boost domestic soybean oil usage. Soymeal continues to be the weight on the soy complex as both Brazilian and especially Argentine soymeal are offered far cheaper than U.S. On a positive note, the WASDE report estimated a far lower soybean ending stocks number of 295 mb, with the prospect for that to tighten even further if the record yield of 52.5 bushels per acre (bpa) is not achieved.

The wheat markets finished a mixed day, with both Chicago and Kansas City futures, after an early challenge of the lows each finished with a gain. Minneapolis wheat, on the other hand, set a new contract low and failed to trade higher all day. Both Chicago and KC have been under severe pressure for weeks as fund managers amassed a record large net-short position. Both markets had become oversold, and likely profit-taking led them to a rare higher finish. Wednesday marks the second day of the annual Wheat Quality Council Tour of Kansas with the first day results showing a 50.5 bpa yield. That was the result on the tour from Manhattan to Colby and would compare to 49.9 bpa a year ago and is well above the five-year average of just 45.1 bpa. NASS recently pegged Kansas production to be 12% higher than a year ago at 345 mb. There were drought conditions witnessed and some wheat streak mosaic disease as well. The second day of the tour will cover the southwestern and south-central Kansas areas.

The momentum in the live cattle complex faded in afternoon trade as traders push the nearby contracts $1.00 to $2.00 higher into Wednesday's noon hour, which is a bold move given that boxed beef prices were lower this morning. Although the market has yet to see what the fed cash cattle market will do in terms of prices, and aside from the fact that boxed beef prices were softer this morning, traders continue to seek higher prices in the live cattle sector, but faded to finish moderately lower at the closing bell. Asking prices of $224 to $225 are noted in the South but asking prices have not yet been established in the North. It looks like trade will be delayed until Thursday or Friday.

The feeder cattle complex followed the live cattle market's direction as its contracts also traded fully higher into today's noon hour. But that's not to say that the feeder cattle market didn't have enough support of its own, as just yesterday afternoon the CME feeder cattle index climbed to yet another new all-time high of $302.40, showing just how strong buyer demand is in the countryside. However, that did not hold through to the closing bell as all contracts finished the day $3 to $4 lower at the closing bell.

The lean hog complex was "tucking its tail and running" from the market's technical resistance pressure. The complex posted a significant rally on Tuesday, but without enough fundamental support, the market is back to trading lower as there simply isn't enough support to conquer the resistance. Midday pork cutout values were slightly higher, but traders were left searching for more support.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/14142821/web-closing-markets.mp3">HERE</a> for audio

By: NATHAN STUEDLESt. Joseph PostGRAINS:July corn closed up 3 cents per bushel at $4.45 1/2 and December corn was down 1/2 cents at $4.40 1/2. July soybeans closed up 5 1/4 cents at $10.77 3/4 and November soybeans were up 1 3/4 cents at $10.61 1/4. July KC wheat closed up 11 1/4 cents at $5.23, July Chicago wheat was up 7 1/2 cents at $5.24 3/4 and July Minneapolis wheat was down 3 3/4 cents at $5.77.Corn futures ended Wednesday in mixed fashion, with spot July rallying back to close firm, while new-crop December gravitated around unchanged for much of the day. In the weekly petroleum status report from the EIA, ethanol production slipped close to 3% from last week to 993,000 barrels per day. With another four to five days of mostly clear weather ahead for the central U.S., the corn planting pace is already well ahead of the average pace, which should continue to advance quickly. Nearby futures continue to be supported by the higher exports and tightening U.S. and world supply.Perhaps the biggest story on Wednesday is the continued ascent of July bean oil futures, closing into a new high and finishing higher for the fifth consecutive day. That was instrumental in getting soybeans to close higher as well. Traders are optimistic that a new bill proposed by Congress would possibly extend the 45Z biofuel credit for several more years if it were passed. Another aspect of the same bill would be to restrict the use of foreign feedstocks including used cooking oil (UCO) from China. The net effect of such a bill would be to boost domestic soybean oil usage. Soymeal continues to be the weight on the soy complex as both Brazilian and especially Argentine soymeal are offered far cheaper than U.S. On a positive note, the WASDE report estimated a far lower soybean ending stocks number of 295 mb, with the prospect for that to tighten even further if the record yield of 52.5 bushels per acre (bpa) is not achieved.The wheat markets finished a mixed day, with both Chicago and Kansas City futures, after an early challenge of the lows each finished with a gain. Minneapolis wheat, on the other hand, set a new contract low and failed to trade higher all day. Both Chicago and KC have been under severe pressure for weeks as fund managers amassed a record large net-short position. Both markets had become oversold, and likely profit-taking led them to a rare higher finish. Wednesday marks the second day of the annual Wheat Quality Council Tour of Kansas with the first day results showing a 50.5 bpa yield. That was the result on the tour from Manhattan to Colby and would compare to 49.9 bpa a year ago and is well above the five-year average of just 45.1 bpa. NASS recently pegged Kansas production to be 12% higher than a year ago at 345 mb. There were drought conditions witnessed and some wheat streak mosaic disease as well. The second day of the tour will cover the southwestern and south-central Kansas areas.LIVESTOCK:The momentum in the live cattle complex faded in afternoon trade as traders push the nearby contracts $1.00 to $2.00 higher into Wednesday's noon hour, which is a bold move given that boxed beef prices were lower this morning. Although the market has yet to see what the fed cash cattle market will do in terms of prices, and aside from the fact that boxed beef prices were softer this morning, traders continue to seek higher prices in the live cattle sector, but faded to finish moderately lower at the closing bell. Asking prices of $224 to $225 are noted in the South but asking prices have not yet been established in the North. It looks like trade will be delayed until Thursday or Friday.The feeder cattle complex followed the live cattle market's direction as its contracts also traded fully higher into today's noon hour. But that's not to say that the feeder cattle market didn't have enough support of its own, as just yesterday afternoon the CME feeder cattle index climbed to yet another new all-time high of $302.40, showing just how strong buyer demand is in the countryside. However, that did not hold through to the closing bell as all contracts finished the day $3 to $4 lower at the closing bell.The lean hog complex was "tucking its tail and running" from the market's technical resistance pressure. The complex posted a significant rally on Tuesday, but without enough fundamental support, the market is back to trading lower as there simply isn't enough support to conquer the resistance. Midday pork cutout values were slightly higher, but traders were left searching for more support.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/14142821/web-closing-markets.mp3">HERE</a> for audio

Commodity markets daily recap

House Republicans are proposing a $290 billion cut from the Supplemental Nutrition Assistance Program over the next decade. The GOP plan uses some of the money saved to increase spending on commodity programs, crop insurance, and other farm bill programs. The draft text released on Monday shows the bill’s agriculture provisions would increase the PLC reference prices by ten percent to 20 percent, in line with the farm bill the committee approved last year. 

Reports say the $230 billion instructed savings target will be reached by forcing states to pay for part of the SNAP program using a sliding scale based on their payment error rates, beginning in fiscal 2028, and would pay between five and 25 percent of the benefits costs. The individual limit for commodity program payments would be increased from $125,000 to $155,000 and indexed for inflation. Funding for EQIP and CSP would rise to $3.26 billion and $1.38 billion, respectively. 

House Republicans are proposing a $290 billion cut from the Supplemental Nutrition Assistance Program over the next decade. The GOP plan uses some of the money saved to increase spending on commodity programs, crop insurance, and other farm bill programs. The draft text released on Monday shows the bill’s agriculture provisions would increase the PLC reference prices by ten percent to 20 percent, in line with the farm bill the committee approved last year. Reports say the $230 billion instructed savings target will be reached by forcing states to pay for part of the SNAP program using a sliding scale based on their payment error rates, beginning in fiscal 2028, and would pay between five and 25 percent of the benefits costs. The individual limit for commodity program payments would be increased from $125,000 to $155,000 and indexed for inflation. Funding for EQIP and CSP would rise to $3.26 billion and $1.38 billion, respectively. -NAFB

House ag plans to tighten SNAP, expand safety net

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

Trade Tuesday was naturally much quieter compared to Monday's WASDE report session. Soybean futures continued to build off Monday's price jump, although gains were muted by strong planting progress made over the past week. The same planting report from Monday afternoon pressured corn prices as well on Tuesday. Wheat markets were mixed among the major varieties, with Kansas City futures finding buying support on technical support despite bearish fundamentals published in Monday's USDA release. Outside markets were mostly of positive influence to ag markets Tuesday with stock indices mostly higher after a cooler-than-expected inflation reading in Tuesday morning Consumer Price Index release. Meanwhile, energy markets continue to mount a comeback from last week's multi-year lows, with NYMEX crude oil futures working toward a fourth straight session higher.

The live cattle complex again traded mostly higher, which is an improvement from the morning's earlier tone, as at first, traders were leery of overly supporting the cattle contracts. And aside from the spot June contract, all of the live cattle contracts traded higher into Tuesday's close. The only news that has developed in the cash cattle complex is that asking prices in the South are now noted at $223 to $225, but remain unestablished in the North. Trade will likely be delayed until later in the week.

The feeder cattle complex traded mostly mixed, with some of the nearby contracts trading slightly lower. More than anything, traders just simply seem to be looking around, wondering: after Monday's sharp advancement, can the complex sustain these levels?

The lean hog complex traded higher once again, as traders are hopeful that trade relations with China will improve soon. Meanwhile, the spot June contract is trading near the market's resistance at $100, but it has not yet surpassed that threshold. It is also supportive that morning pork cutout values were higher, which traders are also hopeful will be a trend for this week.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/13142235/web-closing-markets.mp3">HERE</a> for audio

By: NATHAN STUEDLESt. Joseph PostGRAINS:July corn closed down 5 1/2 cents and December corn was down 4 1/2 cents. July soybeans closed up 1 1/4 cents and November soybeans were up 2 cents. July KC wheat closed up 3 3/4 cents, July Chicago wheat was up 2 cents, July Minneapolis wheat was down 3 1/4 cents.Trade Tuesday was naturally much quieter compared to Monday's WASDE report session. Soybean futures continued to build off Monday's price jump, although gains were muted by strong planting progress made over the past week. The same planting report from Monday afternoon pressured corn prices as well on Tuesday. Wheat markets were mixed among the major varieties, with Kansas City futures finding buying support on technical support despite bearish fundamentals published in Monday's USDA release. Outside markets were mostly of positive influence to ag markets Tuesday with stock indices mostly higher after a cooler-than-expected inflation reading in Tuesday morning Consumer Price Index release. Meanwhile, energy markets continue to mount a comeback from last week's multi-year lows, with NYMEX crude oil futures working toward a fourth straight session higher.LIVESTOCK:The live cattle complex again traded mostly higher, which is an improvement from the morning's earlier tone, as at first, traders were leery of overly supporting the cattle contracts. And aside from the spot June contract, all of the live cattle contracts traded higher into Tuesday's close. The only news that has developed in the cash cattle complex is that asking prices in the South are now noted at $223 to $225, but remain unestablished in the North. Trade will likely be delayed until later in the week.The feeder cattle complex traded mostly mixed, with some of the nearby contracts trading slightly lower. More than anything, traders just simply seem to be looking around, wondering: after Monday's sharp advancement, can the complex sustain these levels? The lean hog complex traded higher once again, as traders are hopeful that trade relations with China will improve soon. Meanwhile, the spot June contract is trading near the market's resistance at $100, but it has not yet surpassed that threshold. It is also supportive that morning pork cutout values were higher, which traders are also hopeful will be a trend for this week.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/13142235/web-closing-markets.mp3">HERE</a> for audio

Ag Secretary Brooke Rollins announced the suspension of live cattle, horse, and bison imports through U.S. ports of entry along the southern border due to the northward expansion of the New World Screwworm. “While we are working with Mexico on responding to the screwworm, it’s my duty to take all steps within my control to protect the U.S. livestock industry from this devastating pest,” Rollins said. “The protection of our animals and the safety of our nation’s food supply is a national security issue of the utmost importance.”

 She also said that once the U.S. sees increased surveillance and eradication efforts and the positive results of those actions, the USDA will remain committed to opening the border to livestock trade. “It’s not about politics or punishing Mexico, but rather it’s about food and animal safety.” The first case of NWS in Mexico was reported to the U.S. back in November 2024. 

Ag Secretary Brooke Rollins announced the suspension of live cattle, horse, and bison imports through U.S. ports of entry along the southern border due to the northward expansion of the New World Screwworm. “While we are working with Mexico on responding to the screwworm, it’s my duty to take all steps within my control to protect the U.S. livestock industry from this devastating pest,” Rollins said. “The protection of our animals and the safety of our nation’s food supply is a national security issue of the utmost importance.” She also said that once the U.S. sees increased surveillance and eradication efforts and the positive results of those actions, the USDA will remain committed to opening the border to livestock trade. “It’s not about politics or punishing Mexico, but rather it’s about food and animal safety.” The first case of NWS in Mexico was reported to the U.S. back in November 2024. -NAFB

Rollins suspends animal imports through the Southern border

Corn futures were down 1 to up 3 cents with flat spread action as light buying returns as the weekend trade news of reduced tariffs for 90 days with China builds into the market pre-report. Outside markets had energies firmer and the dollar sharply higher, but were unable to hold the highs on the session. On the report at 11 a.m. CDT, trade is looking for old-crop carryout at 1.433 billion bushels (bb) and new crop at 2.02 bb. Ethanol margins should show little change with corn and unleaded both firmer. Warmer weather into mid-month should keep planting solidly ahead of the average pace with better rains the second week to boost emergence. Weekly crop progress should keep planting and emergence ahead the 5-year averages. Weekly export inspections remained solid at 1.224 million metric tons (mmt), keeping us at 129% of last year's pace. Basis should remain fairly sideways near term. Double-crop weather in Brazil continues to have few issues as we get deeper into the growing season. On the July chart, the 20-day moving average at $4.75 is resistance with support the fresh low at $4.42 1/4.

Soybean futures were 19 to 27 cents higher at the close with buying returning on expectations of renewed demand post-trade deal ahead of the report; Meal was 3 to 4 dollars higher. On the report, trade is looking for 368 million bushels (mb) of old-crop carryout and 375 mb on new. South American weather will remain conducive to harvest progress. Warmer weather should boost planting pace and emergence into mid-month, keeping us solidly ahead of average on planting and emergence on the weekly report. Basis will likely find a little better short-term action if crush can recover further. The daily wire saw 120,000 metric tons of old crop sold to Mexico with weekly inspections staying range-bound at 426,077 metric tons (mt) with year-to-date pace at 110%. On the July chart, resistance is the 20-day moving average at $10.50, which we are well above at midday, with the lower Bollinger Band at $10.35 as support.

Wheat futures were 6 to 9 cents lower with trade remaining oversold at the lower end of the range and struggling with the sharply stronger dollar ahead of the WASDE report. The hard red wheat areas are expected to see OK short-term weather, along with near-term improvement in the Black Sea continuing. Weekly crop progress should show steady conditions and development slightly ahead of average, with spring wheat planting likely to remain solidly ahead of average. On the report, trade is looking for old-crop carryout at 847 mb, and new at 857 mb. Weekly export inspections were OK at 405,170 mt with year-to-date pace remaining at 115%. MATIF wheat is solidly higher to start the week. On the KC July chart, resistance is the 20-day moving average at $5.44 with the next level of support the fresh low at $5.11 3/4.

The live cattle complex is thrilled to be trading even higher Monday as the announcement that Mexican cattle imports have again been halted because of the continued spread of New World screwworm (NWS) has sent the contracts notably higher. But what's potentially most interesting to note about the contracts is that it isn't the immediate/nearby contracts that are seeing the biggest gains -- it's the late spring/early summer 2026 contracts that saw the biggest daily push. Which is likely because traders recognize that supplies may be thin now, but they're going to be even tighter next year at this time. New showlists appear to be lower in all major feeding states. Last week, Southern live cattle traded at mostly $219 to $220, which is $1.00 to $2.00 higher than the prior week's weighted average. Northern dressed cattle traded at mostly $355, which is $6.00 higher than the previous week's weighted average.

Upon being given the opportunity to trade the announcement that Mexican cattle imports will be halted for 15 days because of the continued spread of New World screwworm, traders didn't waste any time gapping the feeder cattle contracts higher at Monday's start. Even without the added market buzz surrounding the boarder closure, it's likely that the feeder cattle complex would have traded at least steady following last week's bullish gains. However, this breaking news has obviously grabbed the markets and traders' full attention. Monday's WASDE report shared mixed news for the cattle and beef markets of 2025. Beef production for 2025 was decreased as larger carcass weights are more than offsetting the decrease in production in terms of the number of head processed. Beef production for 2025 was decreased by 277 million pounds compared to a month ago. Compared to last month's estimates, the quarterly price projections were changed drastically upon seeing the recent price uptick in the fed cash cattle market. Steers in the second quarter of 2025 are expected to average $217 (up $13 from last month), steers in the third quarter of 2025 are expected to average $216 (up $10 from last month) and steers in the fourth quarter of 2025 are expected to average $220 (up $13 from last month). Beef imports were increased by 212 million pounds compared to last month's estimates (and yes, this report does take into account the ban on Mexican cattle imports currently), but beef exports were decreased by 22 million pounds.

Although, the cattle complex is seeing the greatest advancement, the lean hog complex traded higher as well. The market still isn't comfortable facing its resistance pressure around the $100 market in the spot June contract -- but even so, the market still is trading higher and has even more room to trade higher before that threshold becomes an issue. Monday's WASDE report shared mixed news for the hog and pork markets of 2025. Pork production for 2025 was decreased by 79 million pounds as processing speeds in the second half of the year aren't expected to be as aggressive. Hog prices also saw an increase from last month's projections as hogs in the second quarter of 2025 are expected to average $68 (up $5.00 from last month), hogs in the third quarter are expected to average $71 (up $6.00 from last month) and hogs in the fourth quarter of 2025 are expected to average $60 (up $4.00 from last month). Pork imports for 2025 were increased by 15 million pounds, and pork exports for 2025 were increased by 103 million pounds.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/12141945/web-closing-markets.mp3">HERE</a> for audio

By: NATHAN STUEDLESt. Joseph PostGRAINS:Corn futures were down 1 to up 3 cents with flat spread action as light buying returns as the weekend trade news of reduced tariffs for 90 days with China builds into the market pre-report. Outside markets had energies firmer and the dollar sharply higher, but were unable to hold the highs on the session. On the report at 11 a.m. CDT, trade is looking for old-crop carryout at 1.433 billion bushels (bb) and new crop at 2.02 bb. Ethanol margins should show little change with corn and unleaded both firmer. Warmer weather into mid-month should keep planting solidly ahead of the average pace with better rains the second week to boost emergence. Weekly crop progress should keep planting and emergence ahead the 5-year averages. Weekly export inspections remained solid at 1.224 million metric tons (mmt), keeping us at 129% of last year's pace. Basis should remain fairly sideways near term. Double-crop weather in Brazil continues to have few issues as we get deeper into the growing season. On the July chart, the 20-day moving average at $4.75 is resistance with support the fresh low at $4.42 1/4.Soybean futures were 19 to 27 cents higher at the close with buying returning on expectations of renewed demand post-trade deal ahead of the report; Meal was 3 to 4 dollars higher. On the report, trade is looking for 368 million bushels (mb) of old-crop carryout and 375 mb on new. South American weather will remain conducive to harvest progress. Warmer weather should boost planting pace and emergence into mid-month, keeping us solidly ahead of average on planting and emergence on the weekly report. Basis will likely find a little better short-term action if crush can recover further. The daily wire saw 120,000 metric tons of old crop sold to Mexico with weekly inspections staying range-bound at 426,077 metric tons (mt) with year-to-date pace at 110%. On the July chart, resistance is the 20-day moving average at $10.50, which we are well above at midday, with the lower Bollinger Band at $10.35 as support.Wheat futures were 6 to 9 cents lower with trade remaining oversold at the lower end of the range and struggling with the sharply stronger dollar ahead of the WASDE report. The hard red wheat areas are expected to see OK short-term weather, along with near-term improvement in the Black Sea continuing. Weekly crop progress should show steady conditions and development slightly ahead of average, with spring wheat planting likely to remain solidly ahead of average. On the report, trade is looking for old-crop carryout at 847 mb, and new at 857 mb. Weekly export inspections were OK at 405,170 mt with year-to-date pace remaining at 115%. MATIF wheat is solidly higher to start the week. On the KC July chart, resistance is the 20-day moving average at $5.44 with the next level of support the fresh low at $5.11 3/4.LIVESTOCK:The live cattle complex is thrilled to be trading even higher Monday as the announcement that Mexican cattle imports have again been halted because of the continued spread of New World screwworm (NWS) has sent the contracts notably higher. But what's potentially most interesting to note about the contracts is that it isn't the immediate/nearby contracts that are seeing the biggest gains -- it's the late spring/early summer 2026 contracts that saw the biggest daily push. Which is likely because traders recognize that supplies may be thin now, but they're going to be even tighter next year at this time. New showlists appear to be lower in all major feeding states. Last week, Southern live cattle traded at mostly $219 to $220, which is $1.00 to $2.00 higher than the prior week's weighted average. Northern dressed cattle traded at mostly $355, which is $6.00 higher than the previous week's weighted average.Upon being given the opportunity to trade the announcement that Mexican cattle imports will be halted for 15 days because of the continued spread of New World screwworm, traders didn't waste any time gapping the feeder cattle contracts higher at Monday's start. Even without the added market buzz surrounding the boarder closure, it's likely that the feeder cattle complex would have traded at least steady following last week's bullish gains. However, this breaking news has obviously grabbed the markets and traders' full attention. Monday's WASDE report shared mixed news for the cattle and beef markets of 2025. Beef production for 2025 was decreased as larger carcass weights are more than offsetting the decrease in production in terms of the number of head processed. Beef production for 2025 was decreased by 277 million pounds compared to a month ago. Compared to last month's estimates, the quarterly price projections were changed drastically upon seeing the recent price uptick in the fed cash cattle market. Steers in the second quarter of 2025 are expected to average $217 (up $13 from last month), steers in the third quarter of 2025 are expected to average $216 (up $10 from last month) and steers in the fourth quarter of 2025 are expected to average $220 (up $13 from last month). Beef imports were increased by 212 million pounds compared to last month's estimates (and yes, this report does take into account the ban on Mexican cattle imports currently), but beef exports were decreased by 22 million pounds.Although, the cattle complex is seeing the greatest advancement, the lean hog complex traded higher as well. The market still isn't comfortable facing its resistance pressure around the $100 market in the spot June contract -- but even so, the market still is trading higher and has even more room to trade higher before that threshold becomes an issue. Monday's WASDE report shared mixed news for the hog and pork markets of 2025. Pork production for 2025 was decreased by 79 million pounds as processing speeds in the second half of the year aren't expected to be as aggressive. Hog prices also saw an increase from last month's projections as hogs in the second quarter of 2025 are expected to average $68 (up $5.00 from last month), hogs in the third quarter are expected to average $71 (up $6.00 from last month) and hogs in the fourth quarter of 2025 are expected to average $60 (up $4.00 from last month). Pork imports for 2025 were increased by 15 million pounds, and pork exports for 2025 were increased by 103 million pounds.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/12141945/web-closing-markets.mp3">HERE</a> for audio

NTCA - The Rural Broadband Association applaud the introduction of the “Lowering Broadband Costs for Consumers Act.” The legislation directs the Federal Communications Commission to require broadband service providers to contribute to the Universal Service Fund. “NCTA applauds the introduction of the Lowering Broadband Costs for Consumers Act, which would promote more predictable and stable funding to preserve and advance the statutory mission of universal service,” says NTCA CEO Shirley Bloomfield. 

 “As traditional telecommunications revenues decline, the assessment on the remaining consumers of such services increases, resulting in a disproportionate burden on those consumers even though they are not the most significant users of services or beneficiaries of underlying networks.” She also says common-sense reforms like those directed by this legislation will shore up the foundation of universal service funding and will ultimately help low-income and rural consumers, schools, and other rural facilities that depend on critical universal service programs. 

NTCA - The Rural Broadband Association applaud the introduction of the “Lowering Broadband Costs for Consumers Act.” The legislation directs the Federal Communications Commission to require broadband service providers to contribute to the Universal Service Fund. “NCTA applauds the introduction of the Lowering Broadband Costs for Consumers Act, which would promote more predictable and stable funding to preserve and advance the statutory mission of universal service,” says NTCA CEO Shirley Bloomfield. “As traditional telecommunications revenues decline, the assessment on the remaining consumers of such services increases, resulting in a disproportionate burden on those consumers even though they are not the most significant users of services or beneficiaries of underlying networks.” She also says common-sense reforms like those directed by this legislation will shore up the foundation of universal service funding and will ultimately help low-income and rural consumers, schools, and other rural facilities that depend on critical universal service programs. -NAFB

NTCA applauds bill to lower broadband costs

July corn closed up 2 1/4 cents and December corn was up 3 1/4 cents. July soybeans closed up 6 3/4 cents and November soybeans were up 5 1/2 cents. July KC wheat closed down 7 1/4 cents, July Chicago wheat was down 7 1/2 cents, July Minneapolis wheat was down 7 1/4 cents.

July corn closed down 22 1/2 cents and December corn was down 5 1/4 cents. July soybeans closed up 1 1/2 cents and November soybeans were up 6 1/2 cents. July KC wheat closed down 10 cents, July Chicago wheat was down 9 1/4 cents and July Minneapolis wheat was down 2 cents.

U.S. ag markets were mostly higher Friday with the exception of wheat futures which continue to be under heavy selling pressure ahead of Monday's updated look into world fundamentals for the next marketing year. Corn and soybean markets traded higher, with the latter putting in double-digit gains early before strength faded by afternoon. The soybean move higher was driven primarily by trade optimism after President Trump floated the idea of an 80% tariff on China on Thursday, ahead of the meeting between officials from the United States and China on Saturday. Outside markets were mostly supportive to ag futures on Friday, with the U.S. dollar correcting slightly following a strong day Thursday and crude oil futures working toward a third positive session in the past four and trading at the highest price for the month of May thus far.

The live cattle complex traded mixed throughout the day, but upon seeing midday boxed beef prices lower, traders eased their support of the complex even more. A few new cash cattle bids have surfaced in the North at $225 to $228 live, but at this point, no new sales have been reported. So far this week, Northern dressed deals have been marked at mostly $355, $6 higher than last week's weighted average, basis Nebraska, a Regional, paid as much as $360 for some cattle set for delayed delivery. The South had live sales marked at $218 to $221, mostly $219 to $220, $1 to $2 higher than last week's weighted averages. Some more clean-up trade could develop, but by and large, it's looking like this week's trade is mostly done with.

The feeder cattle complex also ran out of steam ahead of the weekend as its contracts traded mostly lower into Friday's closing bell. And while the market's support was grandiose throughout the earlier part of the week, traders simply seem exhausted and seem to be welcoming the idea of pausing and catching their breath.

With the help of strong midday pork cutout values, the nearby lean hog contracts traded higher into Friday's close. The gains seen this morning in pork cutout values were wild as the butt jumped $7.30, and the loin jumped $7.06. It also seems to be true that the spot June contract is finding some technical support around $97.00, which is helping find some balance in the contracts as well.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/09135529/web-closing-markets.mp3">HERE </a>for audio

By: NATHAN STUEDLESt. Joseph PostGRAINS:July corn closed up 2 1/4 cents and December corn was up 3 1/4 cents. July soybeans closed up 6 3/4 cents and November soybeans were up 5 1/2 cents. July KC wheat closed down 7 1/4 cents, July Chicago wheat was down 7 1/2 cents, July Minneapolis wheat was down 7 1/4 cents.For the week:July corn closed down 22 1/2 cents and December corn was down 5 1/4 cents. July soybeans closed up 1 1/2 cents and November soybeans were up 6 1/2 cents. July KC wheat closed down 10 cents, July Chicago wheat was down 9 1/4 cents and July Minneapolis wheat was down 2 cents.U.S. ag markets were mostly higher Friday with the exception of wheat futures which continue to be under heavy selling pressure ahead of Monday's updated look into world fundamentals for the next marketing year. Corn and soybean markets traded higher, with the latter putting in double-digit gains early before strength faded by afternoon. The soybean move higher was driven primarily by trade optimism after President Trump floated the idea of an 80% tariff on China on Thursday, ahead of the meeting between officials from the United States and China on Saturday. Outside markets were mostly supportive to ag futures on Friday, with the U.S. dollar correcting slightly following a strong day Thursday and crude oil futures working toward a third positive session in the past four and trading at the highest price for the month of May thus far.LIVESTOCK:The live cattle complex traded mixed throughout the day, but upon seeing midday boxed beef prices lower, traders eased their support of the complex even more. A few new cash cattle bids have surfaced in the North at $225 to $228 live, but at this point, no new sales have been reported. So far this week, Northern dressed deals have been marked at mostly $355, $6 higher than last week's weighted average, basis Nebraska, a Regional, paid as much as $360 for some cattle set for delayed delivery. The South had live sales marked at $218 to $221, mostly $219 to $220, $1 to $2 higher than last week's weighted averages. Some more clean-up trade could develop, but by and large, it's looking like this week's trade is mostly done with. The feeder cattle complex also ran out of steam ahead of the weekend as its contracts traded mostly lower into Friday's closing bell. And while the market's support was grandiose throughout the earlier part of the week, traders simply seem exhausted and seem to be welcoming the idea of pausing and catching their breath. With the help of strong midday pork cutout values, the nearby lean hog contracts traded higher into Friday's close. The gains seen this morning in pork cutout values were wild as the butt jumped $7.30, and the loin jumped $7.06. It also seems to be true that the spot June contract is finding some technical support around $97.00, which is helping find some balance in the contracts as well.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/09135529/web-closing-markets.mp3">HERE </a>for audio

The United States and the United Kingdom announced a historic trade deal. The White House says the agreement provides American companies with unprecedented access to U.K. markets while bolstering national security. President Donald Trump said, “The deal includes billions of dollars of increased market access for American exports, especially in agriculture, dramatically increasing access for American beef, ethanol, and virtually all the products produced by our great farmers.” 

The U.K. also agrees to reduce or eliminate non-tariff trade barriers that unfairly discriminate against U.S. goods. The deal creates a $5 billion opportunity for new exports for U.S. farmers, ranchers, and producers, including over $700 million in ethanol exports and $250 million in other agricultural products like beef. It also commits the countries to work together to enhance industrial and agricultural market access. Customs procedures for U.S. exports will be streamlined to ensure smooth entry into the U.K. marketplace. 

The United States and the United Kingdom announced a historic trade deal. The White House says the agreement provides American companies with unprecedented access to U.K. markets while bolstering national security. President Donald Trump said, “The deal includes billions of dollars of increased market access for American exports, especially in agriculture, dramatically increasing access for American beef, ethanol, and virtually all the products produced by our great farmers.” The U.K. also agrees to reduce or eliminate non-tariff trade barriers that unfairly discriminate against U.S. goods. The deal creates a $5 billion opportunity for new exports for U.S. farmers, ranchers, and producers, including over $700 million in ethanol exports and $250 million in other agricultural products like beef. It also commits the countries to work together to enhance industrial and agricultural market access. Customs procedures for U.S. exports will be streamlined to ensure smooth entry into the U.K. marketplace. -NAFB

U.S. and U.K. reach historic trade deal 

The updated 2025 calendar year runoff forecast for the Missouri River Basin above Sioux City, Iowa, continues to be below average. April runoff in the Missouri River Basin above Sioux City was 1.4 million acre-feet, which is 48 percent of the average. “Runoff into the reservoir system was below average for the month of April, and runoff was below average in all reaches,” says John Remus of the U.S. Army Corps of Engineers. 

“Drought or abnormally dry conditions are currently present in 75 percent of the basin, and conditions have worsened in the Fort Peck reach and Garrison reach in the last month, which resulted in a forecast lowered by 1.9 million acre-feet from last month.” The 2025 calendar year forecast above Sioux City is 20 million acre-feet, 78 percent of the average. The runoff forecast is based on current soil moisture conditions, mountain snowpack, and long-term precipitation and temperature outlooks. 

The updated 2025 calendar year runoff forecast for the Missouri River Basin above Sioux City, Iowa, continues to be below average. April runoff in the Missouri River Basin above Sioux City was 1.4 million acre-feet, which is 48 percent of the average. “Runoff into the reservoir system was below average for the month of April, and runoff was below average in all reaches,” says John Remus of the U.S. Army Corps of Engineers. “Drought or abnormally dry conditions are currently present in 75 percent of the basin, and conditions have worsened in the Fort Peck reach and Garrison reach in the last month, which resulted in a forecast lowered by 1.9 million acre-feet from last month.” The 2025 calendar year forecast above Sioux City is 20 million acre-feet, 78 percent of the average. The runoff forecast is based on current soil moisture conditions, mountain snowpack, and long-term precipitation and temperature outlooks. -NAFB

Missouri River runoff forecast lowered by drought

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

Traders kept their fingers on the sell button for corn and wheat Thursday, driving prices further into multi-month lows for corn, and multi-year lows for wheat prices. Soybean futures were able to find some strength, trading higher on optimism regarding international trade and this weekend's upcoming meeting between the U.S. and China. The big news for Thursday was the announcement of a trade agreement between the U.S. and United Kingdom, of which many finer details are unknown but the early terms appear to be a win for U.S. agricultural interests, with Commerce Secretary Lutnick singling out ethanol and beef exports as examples of U.S. commodities which will enjoy larger market access as a result of the agreement. The agreement comes as the first following the April 2 tariff rollout and subsequent 90-day pause and certainly worked to further ease investors' minds as stocks pressed higher following the news, with the Dow Jones Industrial Average working towards a seventh higher session over the past ten days.

The live cattle complex traded higher upon recognizing the light movement in the North yesterday afternoon and higher for fed cash cattle prices. It's also helpful that boxed beef prices have seemed to find another wind of support as boxes have seen better demand this week than they have in recent weeks. There's been no more trade in the cash cattle market today, but some more trade is likely to develop ahead of the week's end, especially in the North, as movement there has been thin. So far this week, the bulk of transactions have been in Kansas and Texas, with a range of $218 to $221, mostly $219 to $220, $1 to $2 higher than last week's weighted averages. Very light scattered sales in Nebraska and Iowa have been marked at $353 to $360, mostly $353 to $355, $4 to $6 higher than last week's weighted averages.

The feeder cattle complex also traded higher as the market is pleased to see ample support stemming from the live cattle/fed cash cattle market this week. With the live cattle contracts trading higher, boxed beef prices seeing better demand, the fed cash cattle market trading higher, and prices still extremely high in the countryside for feeder cattle, the market honestly has all the support it could wish for.

With a less-than-supportive export sales report and lukewarm market fundamentals, it comes as no surprise that the lean hog market traded mixed again today. The losses currently seen in the pork cutout sector are mainly affecting the carcass prices because of the $5.31 decline in the rib and the $3.00 drop in the belly.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/08144851/web-closing-markets.mp3">HERE</a> for audio

By: NATHAN STUEDLESt. Joseph PostGRAINS:July corn closed down 1 3/4 cents and December corn was down 2 cents. July soybeans closed up 5 3/4 cents and November soybeans were up 3 cents. July KC wheat closed down 4 3/4 cents, July Chicago wheat was down 5 cents, July Minneapolis wheat was down 2 1/4 cents.Traders kept their fingers on the sell button for corn and wheat Thursday, driving prices further into multi-month lows for corn, and multi-year lows for wheat prices. Soybean futures were able to find some strength, trading higher on optimism regarding international trade and this weekend's upcoming meeting between the U.S. and China. The big news for Thursday was the announcement of a trade agreement between the U.S. and United Kingdom, of which many finer details are unknown but the early terms appear to be a win for U.S. agricultural interests, with Commerce Secretary Lutnick singling out ethanol and beef exports as examples of U.S. commodities which will enjoy larger market access as a result of the agreement. The agreement comes as the first following the April 2 tariff rollout and subsequent 90-day pause and certainly worked to further ease investors' minds as stocks pressed higher following the news, with the Dow Jones Industrial Average working towards a seventh higher session over the past ten days.LIVESTOCK:The live cattle complex traded higher upon recognizing the light movement in the North yesterday afternoon and higher for fed cash cattle prices. It's also helpful that boxed beef prices have seemed to find another wind of support as boxes have seen better demand this week than they have in recent weeks. There's been no more trade in the cash cattle market today, but some more trade is likely to develop ahead of the week's end, especially in the North, as movement there has been thin. So far this week, the bulk of transactions have been in Kansas and Texas, with a range of $218 to $221, mostly $219 to $220, $1 to $2 higher than last week's weighted averages. Very light scattered sales in Nebraska and Iowa have been marked at $353 to $360, mostly $353 to $355, $4 to $6 higher than last week's weighted averages.The feeder cattle complex also traded higher as the market is pleased to see ample support stemming from the live cattle/fed cash cattle market this week. With the live cattle contracts trading higher, boxed beef prices seeing better demand, the fed cash cattle market trading higher, and prices still extremely high in the countryside for feeder cattle, the market honestly has all the support it could wish for.With a less-than-supportive export sales report and lukewarm market fundamentals, it comes as no surprise that the lean hog market traded mixed again today. The losses currently seen in the pork cutout sector are mainly affecting the carcass prices because of the $5.31 decline in the rib and the $3.00 drop in the belly.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/08144851/web-closing-markets.mp3">HERE</a> for audio

Investors who profit from selling stocks, real estate and other assets soon could reap an even larger benefit in Missouri, which is poised to become the first U.S. state to exempt capital gains from its income tax. Legislation that won final approval Wednesday would halt the capital gains tax this year for individuals and could eventually eliminate it for corporations, if state revenues keep growing. 

By: NATHAN STUEDLESt. Joseph PostInvestors who profit from selling stocks, real estate and other assets soon could reap an even larger benefit in Missouri, which is poised to become the first U.S. state to exempt capital gains from its income tax. Legislation that won final approval Wednesday would halt the capital gains tax this year for individuals and could eventually eliminate it for corporations, if state revenues keep growing.

Missouri poised to become first U.S. state to exempt stock sale profits from income taxes

EPA Administrator Lee Zeldin says the Office of Pesticide Programs will benefit from the dissolution of the Office of Research and Development, the agency’s scientific research arm. The agency said last week the Office of Chemical Safety and Pollution Prevention, which includes OPP, will get more than 130 employees, some of whom will work on pesticide reviews. On Tuesday, Zeldin told farm broadcasters EPA chemicals staff had urged him to bolster chemical reviews and pesticide registrations. 

“They said that if they were able to get scientists sent to them from the Office of Research and Development, that can help them in getting through this backlog that we inherited,” Zeldin said. Zeldin also urged growers to reach out with suggestions for the recently released insecticide strategy. “My message would be for any individual growers that are out there and they read the insecticide strategy, and they have an idea for us on how to do anything better, let us know, and we'll update. This isn't a final document,” according to Zeldin.

EPA Administrator Lee Zeldin says the Office of Pesticide Programs will benefit from the dissolution of the Office of Research and Development, the agency’s scientific research arm. The agency said last week the Office of Chemical Safety and Pollution Prevention, which includes OPP, will get more than 130 employees, some of whom will work on pesticide reviews. On Tuesday, Zeldin told farm broadcasters EPA chemicals staff had urged him to bolster chemical reviews and pesticide registrations. “They said that if they were able to get scientists sent to them from the Office of Research and Development, that can help them in getting through this backlog that we inherited,” Zeldin said. Zeldin also urged growers to reach out with suggestions for the recently released insecticide strategy. “My message would be for any individual growers that are out there and they read the insecticide strategy, and they have an idea for us on how to do anything better, let us know, and we'll update. This isn't a final document,” according to Zeldin.-NAFB

EPA working to clear pesticide registration backlog 

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

The market received an early shot of adrenaline Wednesday when it was reported that the U.S. and China will officially kick off trade negotiations later this week when parties from both nations will meet in Geneva, Switzerland. Agricultural and financial markets alike will be keeping close tabs on the talks for clues on the next stage of the 2025 trade war. Strength in U.S. grains and oilseed markets faded through the morning as traders remain in favor of liquidation with the May USDA data drop just days away. By the close, most U.S. markets had slipped lower with the exception of new-crop November soybeans, which managed to hold on to small gains amid the China related headlines. In outside markets, all eyes were again on the Federal Reserve, which again decided to hold rates steady amid ongoing inflation concerns in what was a widely predicted outcome. Fed Chair Powell's comments Wednesday afternoon will undoubtedly have the market's attention.

After reaching new contract highs yet again just Tuesday, and following the light business that took place in the South at $218 to $220 which is steady to $2.00 higher than last week's weighted average, traders have grown cold to the live cattle complex as all its contracts traded lower into Wednesday's close. More than anything it seems as though traders are cautious about overly supporting the complex more than they already have; traders could also be waiting to see what happens in the North for fed cash cattle trade. At this point only a few more cattle have sold in Texas for $219 which is steady with Tuesday's business, but otherwise no more cattle have sold. Asking prices in the South are noted at $220-plus but are still not fully established in the North.

Following in the same direction as the live cattle contracts, the feeder cattle market was trending lower into Wednesday's close. And just like the live cattle complex, this lower move doesn't seem to be because of any rationale other than because traders are worried the market is overbought.

Without any rip-roaring, wild support stemming from the market's fundamentals, it's no surprise to see the lean hog complex trading lower again, just the July contract managed to finish slightly higher. And while pork cutout values may be up slightly, it currently isn't enough to help boost the morale of traders as their tone and sentiment was set on trading lower.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/07142036/web-closing-markets.mp3">HERE</a> for audio

By: NAHAN STUEDLESt. Joseph PostGRAINS:July corn closed down 6 1/4 cents and December corn was down 1/2 cents. July soybeans closed down 2 cents and November soybeans were up 2 3/4 cents. July KC wheat closed down 8 1/2 cents, July Chicago wheat was down 1 3/4 cents, July Minneapolis wheat was down 7 3/4 cents.The market received an early shot of adrenaline Wednesday when it was reported that the U.S. and China will officially kick off trade negotiations later this week when parties from both nations will meet in Geneva, Switzerland. Agricultural and financial markets alike will be keeping close tabs on the talks for clues on the next stage of the 2025 trade war. Strength in U.S. grains and oilseed markets faded through the morning as traders remain in favor of liquidation with the May USDA data drop just days away. By the close, most U.S. markets had slipped lower with the exception of new-crop November soybeans, which managed to hold on to small gains amid the China related headlines. In outside markets, all eyes were again on the Federal Reserve, which again decided to hold rates steady amid ongoing inflation concerns in what was a widely predicted outcome. Fed Chair Powell's comments Wednesday afternoon will undoubtedly have the market's attention.LIVESTOCK:After reaching new contract highs yet again just Tuesday, and following the light business that took place in the South at $218 to $220 which is steady to $2.00 higher than last week's weighted average, traders have grown cold to the live cattle complex as all its contracts traded lower into Wednesday's close. More than anything it seems as though traders are cautious about overly supporting the complex more than they already have; traders could also be waiting to see what happens in the North for fed cash cattle trade. At this point only a few more cattle have sold in Texas for $219 which is steady with Tuesday's business, but otherwise no more cattle have sold. Asking prices in the South are noted at $220-plus but are still not fully established in the North.Following in the same direction as the live cattle contracts, the feeder cattle market was trending lower into Wednesday's close. And just like the live cattle complex, this lower move doesn't seem to be because of any rationale other than because traders are worried the market is overbought.Without any rip-roaring, wild support stemming from the market's fundamentals, it's no surprise to see the lean hog complex trading lower again, just the July contract managed to finish slightly higher. And while pork cutout values may be up slightly, it currently isn't enough to help boost the morale of traders as their tone and sentiment was set on trading lower.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/07142036/web-closing-markets.mp3">HERE</a> for audio

A new study commissioned by Clean Fuels Alliance America shows the U.S. biomass-based diesel industry generated $42.4 billion in economic activity in 2024, supported 107,400 jobs and paid $6 billion in annual wages. According to the report, nearly half of the total economic impact at $19.9 billion and 41,500 jobs—came from fuel production, while oilseed production supported 30,600 jobs and generated $15.3 billion in economic activity, delivering major benefits to soybean-growing states. 

Significant employment was also reported in oilseed processing and rendering with more than 21,000 jobs.  “The numbers don’t lie; 2024 was a record-setting year for clean fuels, and the benefits reached deep into rural America,” said Donnell Rehagen, CEO of Clean Fuels. “This study proves that biodiesel and renewable diesel not only lower carbon emissions but deliver real income and jobs, especially for soybean producers and the broader agricultural economy.” The study also analyzes a near-future capacity scenario of 7.4 billion gallons, based on publicly announced investments in new or expanded facilities. 

By: NATHAN STUEDLESt. Joseph PostA new study commissioned by Clean Fuels Alliance America shows the U.S. biomass-based diesel industry generated $42.4 billion in economic activity in 2024, supported 107,400 jobs and paid $6 billion in annual wages. According to the report, nearly half of the total economic impact at $19.9 billion and 41,500 jobs—came from fuel production, while oilseed production supported 30,600 jobs and generated $15.3 billion in economic activity, delivering major benefits to soybean-growing states. Significant employment was also reported in oilseed processing and rendering with more than 21,000 jobs. “The numbers don’t lie; 2024 was a record-setting year for clean fuels, and the benefits reached deep into rural America,” said Donnell Rehagen, CEO of Clean Fuels. “This study proves that biodiesel and renewable diesel not only lower carbon emissions but deliver real income and jobs, especially for soybean producers and the broader agricultural economy.” The study also analyzes a near-future capacity scenario of 7.4 billion gallons, based on publicly announced investments in new or expanded facilities.

Clean fuels industry contributes $42.4 Billion to U.S. economy

Farmer sentiment improved in April as producers expressed more optimism about current and future conditions on their farms. The Purdue University/CME Group Ag Economy Barometer rose 8 points to a reading of 148, up from 140 in March. The Index of Current Conditions climbed 9 points to 141, while the Index of Future Expectations increased 8 points to 152. The improvement in sentiment came amidst ongoing tensions with many of U.S. agriculture’s largest trading partners, including Mexico, Canada and China. 

Notably, a majority of producers said they believe the increased use of tariffs will ultimately benefit the U.S. agricultural economy; a view reflected in the stronger future expectations reading. Producers seem to be gaining confidence in the ag economy’s longer-term outlook in spite of concerns they have about the impact of tariffs. This month’s results suggest some producers are starting to look beyond near-term uncertainty and focus more on positioning their farms for the future. The April barometer survey took place between April 14-21. 

Farmer sentiment improved in April as producers expressed more optimism about current and future conditions on their farms. The Purdue University/CME Group Ag Economy Barometer rose 8 points to a reading of 148, up from 140 in March. The Index of Current Conditions climbed 9 points to 141, while the Index of Future Expectations increased 8 points to 152. The improvement in sentiment came amidst ongoing tensions with many of U.S. agriculture’s largest trading partners, including Mexico, Canada and China. Notably, a majority of producers said they believe the increased use of tariffs will ultimately benefit the U.S. agricultural economy; a view reflected in the stronger future expectations reading. Producers seem to be gaining confidence in the ag economy’s longer-term outlook in spite of concerns they have about the impact of tariffs. This month’s results suggest some producers are starting to look beyond near-term uncertainty and focus more on positioning their farms for the future. The April barometer survey took place between April 14-21. -NAFB

Producer sentiment slips on rising policy uncertainty 

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

Row crop and associated products markets were mixed for Tuesday, with wheat futures posting marginal gains after finding support amid multi-year lows. Monday's planting data from the USDA was the main source of bearish sentiment to the corn and soybean markets for Tuesday, as both crops remain ahead of schedule through the season thus far, with good planting weather still observed in the 6-10-day forecast. Outside markets were mixed, with a weaker U.S. dollar for the third straight session, and crude oil posting strong reversal action to trade almost $4 per barrel above Monday's low price. U.S. crop markets did not reflect the influence of energy markets on Tuesday that was seen on Monday, as traders for the moment are finding U.S. planting storylines as enough reason to keep the pressure on prices, although the stronger crude market may have offered some support to corn futures.

It was another prosperous day for the live cattle complex as the market again showed its fundamental strength as some light sales were reported in the Southern Plains at $218 to $220, which is steady to $2.00 higher than last week's weighted average. Given the market's norm here lately it's unusual to see cattle trading this early in the week; but packers continue to be short bought and to their advantage some feedlot managers were willing to let some cattle go to ensure they got their business done. At this point, no trade has developed in the North, but given the fact that sales have been reported in the South at steady/higher money, it's fully assumed that Northern cattle will trade in the same manner.

All the feeder cattle contracts aside from the May contract were able to close mildly higher Tuesday afternoon. And more than anything it seemed as although traders are more concerned about how the August feeder cattle contract is trading as opposed to the May feeder cattle contract as there's more cumulative volume in the August contract. But aside from the slight dip in the May contract, traders continue to seem focused on strong buyer demand in the countryside, along with the helpful support of strong market fundamentals (boxed beef prices and fed cash cattle trade) already developing in this week's market.

The lean hog complex merely drifted lower throughout the day as the market wasn't able to gain any footing throughout Tuesday. The cash hog complex may have seen a sizeable volume trade and prices may have been higher -- but that wasn't enough to offset some of the pressure endured technically and pork cutout values closed lower too. June lean hogs closed $1.42 lower at $97.57, July lean hogs closed $1.00 lower at $99.40 and August lean hogs closed $0.80 lower at $98.12. The biggest deterrent in the carcass price's ability to close higher was the $3.29 decline in the loin, although minor losses were seen throughout most of the cuts.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/06154156/web-closing-markets.mp3">HERE</a> for audio

By: NATHAN STUEDLESt. Joseph PostGRAINS:July corn closed up 1 1/4 cents and December corn was down 1 3/4 cents. July soybeans closed down 4 1/4 cents and November soybeans were down 3 cents. July KC wheat closed up 5 1/4 cents, July Chicago wheat was up 4 3/4 cents, July Minneapolis wheat was up 1 cent.Row crop and associated products markets were mixed for Tuesday, with wheat futures posting marginal gains after finding support amid multi-year lows. Monday's planting data from the USDA was the main source of bearish sentiment to the corn and soybean markets for Tuesday, as both crops remain ahead of schedule through the season thus far, with good planting weather still observed in the 6-10-day forecast. Outside markets were mixed, with a weaker U.S. dollar for the third straight session, and crude oil posting strong reversal action to trade almost $4 per barrel above Monday's low price. U.S. crop markets did not reflect the influence of energy markets on Tuesday that was seen on Monday, as traders for the moment are finding U.S. planting storylines as enough reason to keep the pressure on prices, although the stronger crude market may have offered some support to corn futures.LIVESTOCK:It was another prosperous day for the live cattle complex as the market again showed its fundamental strength as some light sales were reported in the Southern Plains at $218 to $220, which is steady to $2.00 higher than last week's weighted average. Given the market's norm here lately it's unusual to see cattle trading this early in the week; but packers continue to be short bought and to their advantage some feedlot managers were willing to let some cattle go to ensure they got their business done. At this point, no trade has developed in the North, but given the fact that sales have been reported in the South at steady/higher money, it's fully assumed that Northern cattle will trade in the same manner. All the feeder cattle contracts aside from the May contract were able to close mildly higher Tuesday afternoon. And more than anything it seemed as although traders are more concerned about how the August feeder cattle contract is trading as opposed to the May feeder cattle contract as there's more cumulative volume in the August contract. But aside from the slight dip in the May contract, traders continue to seem focused on strong buyer demand in the countryside, along with the helpful support of strong market fundamentals (boxed beef prices and fed cash cattle trade) already developing in this week's market. The lean hog complex merely drifted lower throughout the day as the market wasn't able to gain any footing throughout Tuesday. The cash hog complex may have seen a sizeable volume trade and prices may have been higher -- but that wasn't enough to offset some of the pressure endured technically and pork cutout values closed lower too. June lean hogs closed $1.42 lower at $97.57, July lean hogs closed $1.00 lower at $99.40 and August lean hogs closed $0.80 lower at $98.12. The biggest deterrent in the carcass price's ability to close higher was the $3.29 decline in the loin, although minor losses were seen throughout most of the cuts.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/06154156/web-closing-markets.mp3">HERE</a> for audio

House leaders are delaying a planned Agriculture Committee markup that was tentatively set for this week as big issues remain for the GOP’s massive domestic policy bill, according to two Republicans granted anonymity to relay the decision ahead of an official announcement. Politico reports the meeting had been expected on May 7 or 8, but it is now likely to push into next week. It’s the second megabill markup that Republican leaders have delayed in the past few days. 

The Energy and Commerce Committee also pushed back its own planned meeting alongside the tax-writing Ways and Means panel. Republicans are counting on Agriculture and Energy and Commerce to find the bulk of the spending cuts they are relying on to finance the GOP’s planned tax cuts. The Agriculture panel is still dealing with several serious issues from members raising concerns over deep cuts across the Supplemental Nutrition Assistance Program, formerly known as food stamps.  

House leaders are delaying a planned Agriculture Committee markup that was tentatively set for this week as big issues remain for the GOP’s massive domestic policy bill, according to two Republicans granted anonymity to relay the decision ahead of an official announcement. Politico reports the meeting had been expected on May 7 or 8, but it is now likely to push into next week. It’s the second megabill markup that Republican leaders have delayed in the past few days. The Energy and Commerce Committee also pushed back its own planned meeting alongside the tax-writing Ways and Means panel. Republicans are counting on Agriculture and Energy and Commerce to find the bulk of the spending cuts they are relying on to finance the GOP’s planned tax cuts. The Agriculture panel is still dealing with several serious issues from members raising concerns over deep cuts across the Supplemental Nutrition Assistance Program, formerly known as food stamps. -NAFB

Farm Bill markup delayed again 

More than 15,000 USDA employees have taken one of the Trump administration's two financial incentive offers to leave the agency, according to a readout from a USDA briefing with congressional staff seen by Reuters. The sum represents about 15% of the USDA's total workforce. President Donald Trump's administration has offered federal employees several months of pay and benefits if they opt to leave their jobs as part of his effort to shrink the federal workforce. 

By: NATHAN STUEDLESt. Joseph PostMore than 15,000 USDA employees have taken one of the Trump administration's two financial incentive offers to leave the agency, according to a readout from a USDA briefing with congressional staff seen by Reuters. The sum represents about 15% of the USDA's total workforce. President Donald Trump's administration has offered federal employees several months of pay and benefits if they opt to leave their jobs as part of his effort to shrink the federal workforce.

15,000+ USDA employees accept buyouts

July corn closed down 14 3/4 cents and December corn was down 7 1/4 cents. July soybeans closed down 12 1/2 cents and November soybeans were down 8 1/4 cents. July KC wheat closed down 8 1/2 cents, July Chicago wheat was down 11 3/4 cents, July Minneapolis wheat was down 1 1/2 cents.

Markets were weaker in general to kick off the new week as U.S. crop markets are pressured by the upcoming dry stretch of weather which is being seen as minimizing any planting delay risks that may have been emerging after rainfall through the latter part of April, particularly in the Eastern Corn Belt. Outside markets were mixed with equities inching higher in a very muted session, while the big story as it pertains directly to agricultural interests is the continued plunge in crude oil prices, with NYMEX futures hitting a fresh low for the move Monday morning following the OPEC+ decision to increase production by 411,000 barrels per day in June.

The live cattle complex has aggressively stepped into the new week as the market is traded upwards at $1.00 to $2.00 higher in all contracts. Just when you think the futures complex has found a top -- traders seem to catch a second wind and run the contracts higher. Of course, at these levels, risk is always looming, but the name of the game Monday was bold bullishness. Last week Southern live cattle traded at mostly $218, which is $5.00 to $6.00 higher than the previous week's weighted average, and Northern dressed cattle traded at mostly $350, which is $8.00 higher than the previous week's weighted average.

With the added encouragement from the live cattle complex, the feeder cattle contracts leapt back into action as they traded mostly $2.00 higher into Monday's closing bell. So long as fundamental support remains plentiful again this week, there's a chance the feeder cattle complex will be able to at least maintain its position, if not trade a little higher as buyers will likely stay engaged in the feeder cattle market as turn-out season to grass is just a month away.

The lean hog complex&nbsp; traded mixed to kick the week off as traders want to see more fundamental support before they do any more advancing on the futures front. But if pork cutout values find some stability in terms of consistent price and daily support, then there's a chance traders may be willing to trade the contracts higher.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/05141500/web-closing-markets.mp3">HERE</a> for audio

By: NATHAN STUEDLESt. Joseph PostGRAINS:July corn closed down 14 3/4 cents and December corn was down 7 1/4 cents. July soybeans closed down 12 1/2 cents and November soybeans were down 8 1/4 cents. July KC wheat closed down 8 1/2 cents, July Chicago wheat was down 11 3/4 cents, July Minneapolis wheat was down 1 1/2 cents.Markets were weaker in general to kick off the new week as U.S. crop markets are pressured by the upcoming dry stretch of weather which is being seen as minimizing any planting delay risks that may have been emerging after rainfall through the latter part of April, particularly in the Eastern Corn Belt. Outside markets were mixed with equities inching higher in a very muted session, while the big story as it pertains directly to agricultural interests is the continued plunge in crude oil prices, with NYMEX futures hitting a fresh low for the move Monday morning following the OPEC+ decision to increase production by 411,000 barrels per day in June.LIVESTOCK:The live cattle complex has aggressively stepped into the new week as the market is traded upwards at $1.00 to $2.00 higher in all contracts. Just when you think the futures complex has found a top -- traders seem to catch a second wind and run the contracts higher. Of course, at these levels, risk is always looming, but the name of the game Monday was bold bullishness. Last week Southern live cattle traded at mostly $218, which is $5.00 to $6.00 higher than the previous week's weighted average, and Northern dressed cattle traded at mostly $350, which is $8.00 higher than the previous week's weighted average. With the added encouragement from the live cattle complex, the feeder cattle contracts leapt back into action as they traded mostly $2.00 higher into Monday's closing bell. So long as fundamental support remains plentiful again this week, there's a chance the feeder cattle complex will be able to at least maintain its position, if not trade a little higher as buyers will likely stay engaged in the feeder cattle market as turn-out season to grass is just a month away.The lean hog complex&nbsp; traded mixed to kick the week off as traders want to see more fundamental support before they do any more advancing on the futures front. But if pork cutout values find some stability in terms of consistent price and daily support, then there's a chance traders may be willing to trade the contracts higher.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/05141500/web-closing-markets.mp3">HERE</a> for audio

The National Farmers Union is holding a full week of events, programming, and meetings in Washington, D.C., and across the country to urge Congress to pass a comprehensive five-year farm bill and ease the burden on family farms and ranches. The events take place from Monday, May 5, to Friday, May 9. During the week, Farmers Union members will meet with members of Congress to share how volatile markets, rising input costs, shrinking federal support, mounting trade tensions, and the lack of a new farm bill are causing stress and uncertainty across farm country. 

Starting on Monday, May 5, the NFU will bring nearly 100 family farmers and ranchers to Washington, D.C., to meet directly with their elected officials and share what’s happening on farms across the country. Hundreds more will participate virtually throughout the week, using social media and digital advocacy tools to elevate their voices and urge congressional action. 

The National Farmers Union is holding a full week of events, programming, and meetings in Washington, D.C., and across the country to urge Congress to pass a comprehensive five-year farm bill and ease the burden on family farms and ranches. The events take place from Monday, May 5, to Friday, May 9. During the week, Farmers Union members will meet with members of Congress to share how volatile markets, rising input costs, shrinking federal support, mounting trade tensions, and the lack of a new farm bill are causing stress and uncertainty across farm country. Starting on Monday, May 5, the NFU will bring nearly 100 family farmers and ranchers to Washington, D.C., to meet directly with their elected officials and share what’s happening on farms across the country. Hundreds more will participate virtually throughout the week, using social media and digital advocacy tools to elevate their voices and urge congressional action. -NAFB

NFU to host a week of action

The Fertilizer Institute released its list of public policy priorities for working with the Trump administration, regulatory agencies, and Congress. “We are already advocating strongly for policies that not only ensure the fertilizer industry can continue feeding the world sustainably but also support the farmers who grow our nation’s crops,” says TFI President and CEO Corey Rosenbush. “We’ve had tremendous success in having the critical role fertilizers play in our nation’s security recognized, and we look forward to continuing our engagement in Washington, D.C.” 

TFI’s priorities fall under eight umbrellas, including Tax and Trade, Energy and Economic Growth Environment, Transportation, Permitting Registration and Designations, Safety and Security, Innovation, and Farm Bill Reauthorization. Strengthening the domestic fertilizer industry and pushing for policies that promote grower adoption of nutrient stewardship practices are a heavy focus but just one of many important to TFI. 

The Fertilizer Institute released its list of public policy priorities for working with the Trump administration, regulatory agencies, and Congress. “We are already advocating strongly for policies that not only ensure the fertilizer industry can continue feeding the world sustainably but also support the farmers who grow our nation’s crops,” says TFI President and CEO Corey Rosenbush. “We’ve had tremendous success in having the critical role fertilizers play in our nation’s security recognized, and we look forward to continuing our engagement in Washington, D.C.” TFI’s priorities fall under eight umbrellas, including Tax and Trade, Energy and Economic Growth Environment, Transportation, Permitting Registration and Designations, Safety and Security, Innovation, and Farm Bill Reauthorization. Strengthening the domestic fertilizer industry and pushing for policies that promote grower adoption of nutrient stewardship practices are a heavy focus but just one of many important to TFI. -NAFB

Fertilizer Institute releases policy priorities

July corn closed down 3 1/4 cents and December corn was up 3 cents. July soybeans closed up 7 3/4 cents and November soybeans were up 6 1/2 cents. July KC wheat closed up 13 3/4 cents, July Chicago wheat was up 12 cents, July Minneapolis wheat was up 15 1/2 cents.

July corn closed down 15 cents and December corn was down 6 1/4 cents. July soybeans closed down 4 cents and November soybeans were down 5 cents. July KC wheat closed down 9 1/2 cents, July Chicago wheat was down 1 1/2 cents and July Minneapolis wheat was up 3 1/4 cents.

U.S. crop markets were again quiet, but mostly higher, with soybeans leading the way after reports Friday morning that Chinese officials were open to trade discussions with the U.S. but would first like to see a "softening" of the tariffs implemented last month. Meanwhile corn futures continue to struggle with chart resistance, while also appearing to be subject to some spread trading between corn and wheat markets, with the latter finally showing some life to avoid a 5-day losing streak on KC futures for the week. Outside market influence for Friday was mixed with stock indices higher after a strong reading on the U.S. labor market for April, in what was really the first significant macro report with data following the April 2 tariff spike. Meanwhile, crude oil futures shrugged off reversal action on Thursday to trade lower again Friday, which provided pressure to soybean oil futures.

After seeming like the market may have received all the technical support it was going to for the week, on Friday, traders decided to give the cash cattle market the support it undeniably deserves and to again push the contracts higher. Currently the spot August contract is trading at yet another new contract high, which will be something to watch for into next week. No new cash cattle trade has developed today and it's likely that aside from a few clean up deals here and there, that the bulk of this week's trade is done with.

The feeder cattle complex saw the same support in which the live cattle contracts achieved, as most of its contracts at least threatened a $3.00 higher move into Friday's close. Support has poured into the feeder cattle complex from nearly all directions -- higher fed cash cattle prices, stronger support in the futures complex and nearly unfathomable demand in the countryside for feeder cattle. The only major factor to monitor, will be whether or not traders continue to maintain these high price point on the futures complex or not.

With a little extra help from stronger morning pork cutout values, the lean hog complex also traded higher into the closing bell. The gains were wild this morning in terms of the individual pork cuts as the butt was up $10.67, and the loin was up $5.34.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/02153900/web-closing-markets.mp3">HERE</a> for audio

By: NATHAN STUEDLESt. Joseph PostGRAINS:July corn closed down 3 1/4 cents and December corn was up 3 cents. July soybeans closed up 7 3/4 cents and November soybeans were up 6 1/2 cents. July KC wheat closed up 13 3/4 cents, July Chicago wheat was up 12 cents, July Minneapolis wheat was up 15 1/2 cents.For the week:July corn closed down 15 cents and December corn was down 6 1/4 cents. July soybeans closed down 4 cents and November soybeans were down 5 cents. July KC wheat closed down 9 1/2 cents, July Chicago wheat was down 1 1/2 cents and July Minneapolis wheat was up 3 1/4 cents.U.S. crop markets were again quiet, but mostly higher, with soybeans leading the way after reports Friday morning that Chinese officials were open to trade discussions with the U.S. but would first like to see a "softening" of the tariffs implemented last month. Meanwhile corn futures continue to struggle with chart resistance, while also appearing to be subject to some spread trading between corn and wheat markets, with the latter finally showing some life to avoid a 5-day losing streak on KC futures for the week. Outside market influence for Friday was mixed with stock indices higher after a strong reading on the U.S. labor market for April, in what was really the first significant macro report with data following the April 2 tariff spike. Meanwhile, crude oil futures shrugged off reversal action on Thursday to trade lower again Friday, which provided pressure to soybean oil futures.LIVESTOCK:After seeming like the market may have received all the technical support it was going to for the week, on Friday, traders decided to give the cash cattle market the support it undeniably deserves and to again push the contracts higher. Currently the spot August contract is trading at yet another new contract high, which will be something to watch for into next week. No new cash cattle trade has developed today and it's likely that aside from a few clean up deals here and there, that the bulk of this week's trade is done with.The feeder cattle complex saw the same support in which the live cattle contracts achieved, as most of its contracts at least threatened a $3.00 higher move into Friday's close. Support has poured into the feeder cattle complex from nearly all directions -- higher fed cash cattle prices, stronger support in the futures complex and nearly unfathomable demand in the countryside for feeder cattle. The only major factor to monitor, will be whether or not traders continue to maintain these high price point on the futures complex or not.With a little extra help from stronger morning pork cutout values, the lean hog complex also traded higher into the closing bell. The gains were wild this morning in terms of the individual pork cuts as the butt was up $10.67, and the loin was up $5.34.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/02153900/web-closing-markets.mp3">HERE</a> for audio

New data from the Energy Information Administration says U.S. ethanol output rose to its highest level in a month while inventories declined. Production jumped to an average of 1.04 million barrels a day during the week ending on April 25th. That’s up from 1.03 million barrels during the previous week and marks the highest point since March 28th. 

The Midwest, which produces most of the country’s ethanol, saw its output average 980,000 barrels per day, up from 976,000 the week prior and was also the most since the end of March. Gulf Coast production increased to 28,000 barrels per day, and Rocky Mountain output rose to an average of 11,000 barrels per day. East Coast production was unchanged at 12,000 barrels a day, and the West Coast was steady at 9,000 barrels. Weekly ethanol inventories fell to just under 25.4 million barrels, the lowest since early January.

By: NATHAN STUEDLESt. Joseph PostNew data from the Energy Information Administration says U.S. ethanol output rose to its highest level in a month while inventories declined. Production jumped to an average of 1.04 million barrels a day during the week ending on April 25th. That’s up from 1.03 million barrels during the previous week and marks the highest point since March 28th. The Midwest, which produces most of the country’s ethanol, saw its output average 980,000 barrels per day, up from 976,000 the week prior and was also the most since the end of March. Gulf Coast production increased to 28,000 barrels per day, and Rocky Mountain output rose to an average of 11,000 barrels per day. East Coast production was unchanged at 12,000 barrels a day, and the West Coast was steady at 9,000 barrels. Weekly ethanol inventories fell to just under 25.4 million barrels, the lowest since early January.