May corn closed up 2 3/4 cents and December corn was down 3/4 cents. May soybeans closed down 34 1/2 cents and November soybeans were down 32 3/4 cents. May KC wheat closed down 11 1/2 cents, May Chicago wheat was down 7 cents, May Minneapolis wheat was down 4 cents.

May corn closed up 7 cents and July corn was up 7 1/4 cents. May soybeans closed down 46 cents and July soybeans were down 44 1/4 cents. May KC wheat closed up 5 3/4 cents, May Chicago wheat was up 3/4 cents and May Minneapolis wheat was up 3 1/2 cents.

Friday was overall a red day across markets -- both financial and agricultural -- as investors and traders continue to attempt to sort out the consequences from this week's tariffs announced by the Trump administration. The headline news to begin the day was China's announcement of a 34% blanket tariff of its own on all imported goods from the U.S. Soybeans, as one would expect given the significance of China for that commodity, took the news especially hard, dropping over 40 cents at one point on nearby May futures before finding at least some degree of stabilization by the close, albeit still down 3.41% for the session, and down over 5% since the U.S. tariff announcement Wednesday. Corn futures have again proven somewhat insulated from the effects as the trading relationship with China is not a significant one currently for U.S. corn. Wheat markets were caught in the middle, not hit quite as hard as soybeans, but still pressured primarily by an attempted recovery in the U.S. dollar through the session Friday. In outside markets, stock indices posted their worst session since the early days of the COVID-19 pandemic on Thursday and continued that weakness into the weekend with the Dow Jones Industrial Average down another 1,900 points. Meanwhile, interest rates have also moved sharply lower as investors flock to bonds amid the market turmoil.

Live cattle futures traded sharply lower Friday in reaction to additional tariff concerns and announcements that China is implementing corresponding tariffs starting next week. The overall lack of support in all livestock markets is following the pattern of sharp losses in the stock market and financial trade.

Feeder cattle futures were sharply lower Friday with traders continuing to focus on the potential that this week's round of tariffs will have prolonged reactions. The announcement that China is implementing offsetting tariff actions starting next week is another indication of market problems. We could see expanded limits Monday, and if the continued bearishness holds over the weekend, this could continue to wipe out all of the gains seen this year.

Lean hog futures moved sharply lower, also focused on tariff levels and the announcement that China will impose tariffs starting next week. A close at these levels would indicate expanded trading limits Monday, creating potential additional pressure early next week.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/04140706/web-closing-markets.mp3">HERE</a> for audio

By NATHAN STUEDLESt. Joseph PostGRAINS:May corn closed up 2 3/4 cents and December corn was down 3/4 cents. May soybeans closed down 34 1/2 cents and November soybeans were down 32 3/4 cents. May KC wheat closed down 11 1/2 cents, May Chicago wheat was down 7 cents, May Minneapolis wheat was down 4 cents.For the week:May corn closed up 7 cents and July corn was up 7 1/4 cents. May soybeans closed down 46 cents and July soybeans were down 44 1/4 cents. May KC wheat closed up 5 3/4 cents, May Chicago wheat was up 3/4 cents and May Minneapolis wheat was up 3 1/2 cents.Friday was overall a red day across markets -- both financial and agricultural -- as investors and traders continue to attempt to sort out the consequences from this week's tariffs announced by the Trump administration. The headline news to begin the day was China's announcement of a 34% blanket tariff of its own on all imported goods from the U.S. Soybeans, as one would expect given the significance of China for that commodity, took the news especially hard, dropping over 40 cents at one point on nearby May futures before finding at least some degree of stabilization by the close, albeit still down 3.41% for the session, and down over 5% since the U.S. tariff announcement Wednesday. Corn futures have again proven somewhat insulated from the effects as the trading relationship with China is not a significant one currently for U.S. corn. Wheat markets were caught in the middle, not hit quite as hard as soybeans, but still pressured primarily by an attempted recovery in the U.S. dollar through the session Friday. In outside markets, stock indices posted their worst session since the early days of the COVID-19 pandemic on Thursday and continued that weakness into the weekend with the Dow Jones Industrial Average down another 1,900 points. Meanwhile, interest rates have also moved sharply lower as investors flock to bonds amid the market turmoil.LIVESTOCK:Live cattle futures traded sharply lower Friday in reaction to additional tariff concerns and announcements that China is implementing corresponding tariffs starting next week. The overall lack of support in all livestock markets is following the pattern of sharp losses in the stock market and financial trade. Feeder cattle futures were sharply lower Friday with traders continuing to focus on the potential that this week's round of tariffs will have prolonged reactions. The announcement that China is implementing offsetting tariff actions starting next week is another indication of market problems. We could see expanded limits Monday, and if the continued bearishness holds over the weekend, this could continue to wipe out all of the gains seen this year. Lean hog futures moved sharply lower, also focused on tariff levels and the announcement that China will impose tariffs starting next week. A close at these levels would indicate expanded trading limits Monday, creating potential additional pressure early next week. Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/04140706/web-closing-markets.mp3">HERE</a> for audio

Commodity market daily recap

A coalition of U.S. oil and biofuel groups met with the Environmental Protection Agency this week to push for higher federal mandates for biomass diesel blending. Three sources familiar with the plans said that the EPA meeting may signal that the agency is getting closer to releasing fresh biofuel blending quotas for the Renewable Fuel Standard. The forthcoming proposal is predicted to cover two years’ worth of mandates. Two sources familiar with the matter say the EPA could release the proposal as early as this month. 

Big Oil and the Farm Belt’s biofuel makers haven’t worked well together in the past. The two sides are traditionally competitors in the multi-billion-dollar U.S. fuel market. One document shows the coalition pushed for biomass diesel blending mandates of 5.5 billion to 5.75 billion gallons. The current level is 3.35 billion gallons, which the industry says is far below production capacity.

A coalition of U.S. oil and biofuel groups met with the Environmental Protection Agency this week to push for higher federal mandates for biomass diesel blending. Three sources familiar with the plans said that the EPA meeting may signal that the agency is getting closer to releasing fresh biofuel blending quotas for the Renewable Fuel Standard. The forthcoming proposal is predicted to cover two years’ worth of mandates. Two sources familiar with the matter say the EPA could release the proposal as early as this month. Big Oil and the Farm Belt’s biofuel makers haven’t worked well together in the past. The two sides are traditionally competitors in the multi-billion-dollar U.S. fuel market. One document shows the coalition pushed for biomass diesel blending mandates of 5.5 billion to 5.75 billion gallons. The current level is 3.35 billion gallons, which the industry says is far below production capacity.-NAFB

Oil and biofuel coalition meets with EPA

May corn closed down 1/4 cents and December corn was down 1 1/4 cents. May soybeans closed down 18 cents and November soybeans were down 20 1/4 cents. May KC wheat closed up 1/2 cents, May Chicago wheat was down 3 1/4 cents, May Minneapolis wheat was down 1 1/4 cents.

Tariff talk and headlines leaped back into the driver's seat of the market Wednesday evening following President Trump's unveiling of sweeping tariffs across the globe. Traders and investors had been holding out optimism that the trade policies would be much more precise and specific than what was announced, which ultimately included a blanket 10% tariff on all imports to the United States, with more severe duties on countries the Trump administration deemed as the worst offenders. The latter includes a 20% duty on the European Union and an additional 34% tariff on China, in addition to increased action against Vietnam, Thailand, and Japan. The U.S. ag markets reacted as one would have expected, with a gap lower across major U.S. grains and livestock markets Wednesday evening. Since then, corn and wheat markets have stabilized, finding optimism that major trading partners have not yet announced retaliation and in the weakening U.S. dollar's positive effect on U.S. price competitiveness on the world stage. Soybeans, on the other hand, did manage to recover off daily lows but remained under pressure for the session due to the heavy duties against China and China's promise Thursday of a policy response. Stock indices predictably responded to Wednesday's measure with sharp volatility, with the Dow Jones Industrial Average down over 1,500 points at one point on Thursday.

Live cattle futures have given back all midweek gains and even more as trade and tariff concerns rocking financial markets had a significant impact on livestock trade and the cattle market specifically. Cash cattle markets remain generally quiet, although a few more bids are now on the table. In Nebraska, major packers are bidding $335, while a regional packer has bid $345. Asking prices in the North are still not well established. Southern bids are at $208, which is well below current asking prices of around $212. Packer inquiry should continue to improve as the day progresses, but significant trade volume may be delayed until Friday.

Feeder cattle futures led the market lower with the general pressure on all cattle trade starting in the morning trade. The market has additional concerns about these newly instated tariffs will impact not only short-term trade and buying decisions, but also long-term market activity. The focus on overall economic health continues to be weighed heavily on overall cattle trade which may have a longer-term impact on overall beef demand.

Lean hog futures were mostly lower as the general market tone Thursday remained weak. But compared to the rest of the livestock trade, lean hog futures seem to have worked most of the tariff and demand concerns into the complex. With nearby contracts trading in the bottom half of short-term market levels, it is uncertain just how much more active selling pressure will develop given the current fundamental market support.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/03160521/web-closing-markets.mp3">HERE</a> for audio

By NATHAN STUEDLESt. Joseph PostGRAINS:May corn closed down 1/4 cents and December corn was down 1 1/4 cents. May soybeans closed down 18 cents and November soybeans were down 20 1/4 cents. May KC wheat closed up 1/2 cents, May Chicago wheat was down 3 1/4 cents, May Minneapolis wheat was down 1 1/4 cents.Tariff talk and headlines leaped back into the driver's seat of the market Wednesday evening following President Trump's unveiling of sweeping tariffs across the globe. Traders and investors had been holding out optimism that the trade policies would be much more precise and specific than what was announced, which ultimately included a blanket 10% tariff on all imports to the United States, with more severe duties on countries the Trump administration deemed as the worst offenders. The latter includes a 20% duty on the European Union and an additional 34% tariff on China, in addition to increased action against Vietnam, Thailand, and Japan. The U.S. ag markets reacted as one would have expected, with a gap lower across major U.S. grains and livestock markets Wednesday evening. Since then, corn and wheat markets have stabilized, finding optimism that major trading partners have not yet announced retaliation and in the weakening U.S. dollar's positive effect on U.S. price competitiveness on the world stage. Soybeans, on the other hand, did manage to recover off daily lows but remained under pressure for the session due to the heavy duties against China and China's promise Thursday of a policy response. Stock indices predictably responded to Wednesday's measure with sharp volatility, with the Dow Jones Industrial Average down over 1,500 points at one point on Thursday.LIVESTOCK:Live cattle futures have given back all midweek gains and even more as trade and tariff concerns rocking financial markets had a significant impact on livestock trade and the cattle market specifically. Cash cattle markets remain generally quiet, although a few more bids are now on the table. In Nebraska, major packers are bidding $335, while a regional packer has bid $345. Asking prices in the North are still not well established. Southern bids are at $208, which is well below current asking prices of around $212. Packer inquiry should continue to improve as the day progresses, but significant trade volume may be delayed until Friday. Feeder cattle futures led the market lower with the general pressure on all cattle trade starting in the morning trade. The market has additional concerns about these newly instated tariffs will impact not only short-term trade and buying decisions, but also long-term market activity. The focus on overall economic health continues to be weighed heavily on overall cattle trade which may have a longer-term impact on overall beef demand.Lean hog futures were mostly lower as the general market tone Thursday remained weak. But compared to the rest of the livestock trade, lean hog futures seem to have worked most of the tariff and demand concerns into the complex. With nearby contracts trading in the bottom half of short-term market levels, it is uncertain just how much more active selling pressure will develop given the current fundamental market support. Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/03160521/web-closing-markets.mp3">HERE</a> for audio

Commodity markets daily recap

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

The grain markets took a breather Wednesday with decreased volume and volatility behind the trade. It was not all that surprising to see corn and soybeans trade slightly lower ahead of the pending announcement from President Trump due Wednesday afternoon regarding the implementation of reciprocal tariffs on U.S. trading partners. However, the moderate correction from Tuesday's strong session in soybeans displays that traders are likely finding some degree of optimism in that, at the very least, the period of waiting and speculating on policy out of Washington will reach some form of conclusion Wednesday afternoon. Kansas City wheat prices on the other hand continue to recover from last week's lows on continued strength from the bullish acreage estimate on Monday as well as an uncertain weather outlook. Outside markets were understandably choppy ahead of President Trump's comments, but notably the U.S. Dollar Index fell to its lowest point in a week and a half, which also likely served as some bullish fuel for the wheat market.

Live cattle futures have regained additional momentum through midweek with prices moving through last week's highs of $209.55 per cwt in April contracts. This ability to move to additional heights over the past couple of days has helped to rekindle buyer support in both nearby and deferred contracts. Most of the buyer support and aggressive price movement have been contained to April through August contracts with traders focusing on summer demand and the potential for further wholesale and retail beef price support over the coming months. Cash cattle markets remain at a general standstill midweek with activity through the morning and a very slow start to the day with just a few asking prices noted around $212 in the South, but they are still not established in the North.

Feeder cattle futures are held onto light to moderate gains following the support in live cattle trade through the morning. Narrow support is seen in April and May contracts, but further support is seen in fall 2025 contracts. The potential for tighter supplies through the end of the year and continued long-term strength in beef values well past the current run higher is helping to sustain longer-term support through the feeder cattle complex. Given the recent support in the market, nearby and deferred contracts are holding well above both 40-day and 100-day moving averages as contracts continue to reach for new contract highs.

Lean hog futures remain under pressure as traders continue to battle the uncertainty of tariff implications and economic concerns for both short- and longer-term buying decisions. Summer contracts were trading with triple-digit losses as concerns of moving further lower keep buyers on the sidelines. May through July futures have dipped below the 40-day moving average during morning trade.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/02142248/web-closing-markets.mp3">HERE</a> for audio

By NATHAN STUEDLESt. Joseph PostGRAINS:May corn closed down 4 cents and December corn was down 3/4 cents. May soybeans closed down 4 3/4 cents and November soybeans were down 2 cents. May KC wheat closed up 3 1/4 cents, May Chicago wheat was down 1 1/4 cents, May Minneapolis wheat was down 1 1/2 cents.The grain markets took a breather Wednesday with decreased volume and volatility behind the trade. It was not all that surprising to see corn and soybeans trade slightly lower ahead of the pending announcement from President Trump due Wednesday afternoon regarding the implementation of reciprocal tariffs on U.S. trading partners. However, the moderate correction from Tuesday's strong session in soybeans displays that traders are likely finding some degree of optimism in that, at the very least, the period of waiting and speculating on policy out of Washington will reach some form of conclusion Wednesday afternoon. Kansas City wheat prices on the other hand continue to recover from last week's lows on continued strength from the bullish acreage estimate on Monday as well as an uncertain weather outlook. Outside markets were understandably choppy ahead of President Trump's comments, but notably the U.S. Dollar Index fell to its lowest point in a week and a half, which also likely served as some bullish fuel for the wheat market.LIVESTOCK:Live cattle futures have regained additional momentum through midweek with prices moving through last week's highs of $209.55 per cwt in April contracts. This ability to move to additional heights over the past couple of days has helped to rekindle buyer support in both nearby and deferred contracts. Most of the buyer support and aggressive price movement have been contained to April through August contracts with traders focusing on summer demand and the potential for further wholesale and retail beef price support over the coming months. Cash cattle markets remain at a general standstill midweek with activity through the morning and a very slow start to the day with just a few asking prices noted around $212 in the South, but they are still not established in the North. Feeder cattle futures are held onto light to moderate gains following the support in live cattle trade through the morning. Narrow support is seen in April and May contracts, but further support is seen in fall 2025 contracts. The potential for tighter supplies through the end of the year and continued long-term strength in beef values well past the current run higher is helping to sustain longer-term support through the feeder cattle complex. Given the recent support in the market, nearby and deferred contracts are holding well above both 40-day and 100-day moving averages as contracts continue to reach for new contract highs. Lean hog futures remain under pressure as traders continue to battle the uncertainty of tariff implications and economic concerns for both short- and longer-term buying decisions. Summer contracts were trading with triple-digit losses as concerns of moving further lower keep buyers on the sidelines. May through July futures have dipped below the 40-day moving average during morning trade.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/02142248/web-closing-markets.mp3">HERE</a> for audio

The U.S. Trade Representative recently held hearings on a proposal to impose million-dollar port call fees on Chinese vessels. The U.S. Meat Export Federation joined more than 300 other organizations in saying the fees would hurt U.S. exports. USMEF President and CEO Dan Halstrom supports the intent of the proposal to incentivize U.S. shipbuilding. “The reality is it’s not feasible right now,” Halstrom said. “It’s going to take some time to become viable, and we don’t want to have our exporters get penalized by other countries while we wait for this to happen.” 

Shippers have already indicated they would reduce port calls, including a key port for the red meat industry. “The Port of Oakland represents about 40 percent of our waterborne exports on the beef side,” Halstrom added. “We’ve had some companies publicly say that Oakland would be a candidate to stop service to, if this current policy were installed.”

By NATHAN STUEDLESt. Joseph PostThe U.S. Trade Representative recently held hearings on a proposal to impose million-dollar port call fees on Chinese vessels. The U.S. Meat Export Federation joined more than 300 other organizations in saying the fees would hurt U.S. exports. USMEF President and CEO Dan Halstrom supports the intent of the proposal to incentivize U.S. shipbuilding. “The reality is it’s not feasible right now,” Halstrom said. “It’s going to take some time to become viable, and we don’t want to have our exporters get penalized by other countries while we wait for this to happen.” Shippers have already indicated they would reduce port calls, including a key port for the red meat industry. “The Port of Oakland represents about 40 percent of our waterborne exports on the beef side,” Halstrom added. “We’ve had some companies publicly say that Oakland would be a candidate to stop service to, if this current policy were installed.”

USMEF says shipbuilding idea not feasible

Improved economic conditions in many regions, together with ongoing high prices for other proteins, make poultry an attractive option for worldwide consumers. Rabobank says global consumption growth is predicted to reach 2.5 to three percent this year. This marks the second year of above-average market growth, which led to significant improvements in margin performance. However, dealing with avian influenza remains a significant challenge for the U.S. poultry industry and one of its biggest concerns. 

Additionally, the supply of parent stock remains tight, and hatching egg prices are still high, restricting growth. Aside from the ongoing flu risk, rising geopolitical tensions and competition pose the biggest challenges for global trade. The geopolitical tension includes U.S. tariffs on imports and retaliatory tariffs on U.S. poultry from affected regions, which could lead to a trade war and shifting global trade flows. 

Improved economic conditions in many regions, together with ongoing high prices for other proteins, make poultry an attractive option for worldwide consumers. Rabobank says global consumption growth is predicted to reach 2.5 to three percent this year. This marks the second year of above-average market growth, which led to significant improvements in margin performance. However, dealing with avian influenza remains a significant challenge for the U.S. poultry industry and one of its biggest concerns. Additionally, the supply of parent stock remains tight, and hatching egg prices are still high, restricting growth. Aside from the ongoing flu risk, rising geopolitical tensions and competition pose the biggest challenges for global trade. The geopolitical tension includes U.S. tariffs on imports and retaliatory tariffs on U.S. poultry from affected regions, which could lead to a trade war and shifting global trade flows. -NAFB

Poultry markets strong but face headwinds

U.S. farmers will plant nearly 5 million more corn acres in 2025 compared with last year. In its 2025 Prospective Plantings report released Monday, the agency pegged corn acres for the 2025/2026 crop year at 95.3 million. This was up 5% from last year and above the average trade expectation. Soybean acres projected below last year at 83.5 million acres, below both last year and the average trade expectation. 

By NATHAN STUEDLESt. Joseph PostU.S. farmers will plant nearly 5 million more corn acres in 2025 compared with last year. In its 2025 Prospective Plantings report released Monday, the agency pegged corn acres for the 2025/2026 crop year at 95.3 million. This was up 5% from last year and above the average trade expectation. Soybean acres projected below last year at 83.5 million acres, below both last year and the average trade expectation.

USDA says corn acres up 5% in 2025

Extreme weather events, such as drought, jointly impact agricultural production and rural infrastructure, including transportation infrastructure. An important part of this transportation infrastructure is the Mississippi River. It serves as one of the most critical networks for moving agricultural commodities. Soybeans, the leading U.S. agricultural export, rely heavily on barge transportation, with 53 percent of exports moved by barge. 

Despite this reliance on barges for moving U.S. grain, little is known about the link between extreme weather, rural transportation infrastructure, and crop prices. Record-low water levels increased transportation costs and barge freight rates. Higher transportation costs are transmitted to row crop producers through lower cash bids or a weakening of local crop basis. Historic lows in Mississippi River levels during the fall harvest of the last three years have highlighted the need to measure the impact of these low river levels on rural infrastructure and communities. 

By NATHAN STUEDLESt. Joseph PostExtreme weather events, such as drought, jointly impact agricultural production and rural infrastructure, including transportation infrastructure. An important part of this transportation infrastructure is the Mississippi River. It serves as one of the most critical networks for moving agricultural commodities. Soybeans, the leading U.S. agricultural export, rely heavily on barge transportation, with 53 percent of exports moved by barge. Despite this reliance on barges for moving U.S. grain, little is known about the link between extreme weather, rural transportation infrastructure, and crop prices. Record-low water levels increased transportation costs and barge freight rates. Higher transportation costs are transmitted to row crop producers through lower cash bids or a weakening of local crop basis. Historic lows in Mississippi River levels during the fall harvest of the last three years have highlighted the need to measure the impact of these low river levels on rural infrastructure and communities.

Impact of low Mississippi River levels on soybean basis

May corn closed up 4 1/2 cents and July corn was up 5 cents. May soybeans closed up 19 1/2 cents and July soybeans were up 21 cents. May KC wheat closed up 8 1/4 cents, May Chicago wheat was up 3 1/2 cents, May Minneapolis wheat was up 2 cents.

After somewhat head-scratching price action following Monday's onslaught of USDA data, market sentiment was much clearer Tuesday with corn, soybeans, and wheat all trading higher in apparent consensus to focus on the bullish aspects of Monday's reports. The markets will have technical roadblocks to an attempted rally and weather both in the U.S. and abroad will take an increased level of precedence to the markets as planting season has arrived. In outside markets, U.S. stocks continued choppy action on Tuesday ahead of Wednesday's long-awaited announcement from the Trump administration regarding tariff action. The announcement is expected at 3 p.m. CDT on Wednesday. Stock indices noted two-sided trade on Tuesday as some investors are holding out optimism that U.S. trade policy Wednesday will be precise and at least fill in some unknowns that have had the market anxious over the past month plus. In biofuel news, the Trump administration released over half a billion dollars for biofuel blending initiatives on Monday, in the latest optimistic sign that the administration has the biofuel industry in mind despite the uncertainty in the industry through 2025 thus far.

The live cattle complex may have initially been trading lower this morning, but as the market plodded through the day, stronger tones powered the live cattle market. Following the market's lower ascend on both Friday and Monday, traders now again sit in a better technical position as they are no longer up against immediate resistance pressure. From a fundamental standpoint, boxed beef prices are showing ample support, but no cash cattle trade has developed yet and won't likely develop until Friday. And yes, your choice cuts really were up over $7.00 this morning -- that's no April Fool's joke! Asking prices are noted in the South at $212 but are still not established or known for the North.

The feeder cattle complex is "feeling its oats" as the market charged mostly $2.00 higher into Tuesday's noon hour. The spot May contract is still about $2.00 lower than the market's resistance threshold, so traders were able to maintain their stronger tune throughout the afternoon without too much opposition.

Although pork cutout values made a trend lower, the lean hog complex traded higher as the market is rallying on some of the positive energy stemming from the cattle complex's change in direction. The biggest hindrance to the morning's pork cutout value was the $4.75 decline in the belly.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/01143656/web-closing-markets.mp3">HERE</a> for audio

By NATHAN STUEDLESt. Joseph PostGRAINS:May corn closed up 4 1/2 cents and July corn was up 5 cents. May soybeans closed up 19 1/2 cents and July soybeans were up 21 cents. May KC wheat closed up 8 1/4 cents, May Chicago wheat was up 3 1/2 cents, May Minneapolis wheat was up 2 cents.After somewhat head-scratching price action following Monday's onslaught of USDA data, market sentiment was much clearer Tuesday with corn, soybeans, and wheat all trading higher in apparent consensus to focus on the bullish aspects of Monday's reports. The markets will have technical roadblocks to an attempted rally and weather both in the U.S. and abroad will take an increased level of precedence to the markets as planting season has arrived. In outside markets, U.S. stocks continued choppy action on Tuesday ahead of Wednesday's long-awaited announcement from the Trump administration regarding tariff action. The announcement is expected at 3 p.m. CDT on Wednesday. Stock indices noted two-sided trade on Tuesday as some investors are holding out optimism that U.S. trade policy Wednesday will be precise and at least fill in some unknowns that have had the market anxious over the past month plus. In biofuel news, the Trump administration released over half a billion dollars for biofuel blending initiatives on Monday, in the latest optimistic sign that the administration has the biofuel industry in mind despite the uncertainty in the industry through 2025 thus far.LIVESTOCK:The live cattle complex may have initially been trading lower this morning, but as the market plodded through the day, stronger tones powered the live cattle market. Following the market's lower ascend on both Friday and Monday, traders now again sit in a better technical position as they are no longer up against immediate resistance pressure. From a fundamental standpoint, boxed beef prices are showing ample support, but no cash cattle trade has developed yet and won't likely develop until Friday. And yes, your choice cuts really were up over $7.00 this morning -- that's no April Fool's joke! Asking prices are noted in the South at $212 but are still not established or known for the North.The feeder cattle complex is "feeling its oats" as the market charged mostly $2.00 higher into Tuesday's noon hour. The spot May contract is still about $2.00 lower than the market's resistance threshold, so traders were able to maintain their stronger tune throughout the afternoon without too much opposition. Although pork cutout values made a trend lower, the lean hog complex traded higher as the market is rallying on some of the positive energy stemming from the cattle complex's change in direction. The biggest hindrance to the morning's pork cutout value was the $4.75 decline in the belly.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/01143656/web-closing-markets.mp3">HERE</a> for audio

Agricultural producers who have not yet enrolled in the Agriculture Risk Coverage (ARC) or Price Loss Coverage (PLC) programs for the 2025 crop year have until April 15th to revise elections and sign contracts. Both safety net programs, delivered by USDA’s Farm Service Agency (FSA), provide vital income support to eligible farmers who experience substantial declines  in crop prices or revenues for the 2025 crop year.  

ARC or PLC programs provide excellent risk protection, for market declines, at no cost to the producer, said Brenda Archuleta, deputy state executive director for FSA. Producers who have not made program elections or signed a contract are urged to contact their local FSA county office as soon as possible to set an appointment so you don’t miss the April 15th deadline.

By NATHAN STUEDLESt. Joseph PostAgricultural producers who have not yet enrolled in the Agriculture Risk Coverage (ARC) or Price Loss Coverage (PLC) programs for the 2025 crop year have until April 15th to revise elections and sign contracts. Both safety net programs, delivered by USDA’s Farm Service Agency (FSA), provide vital income support to eligible farmers who experience substantial declines  in crop prices or revenues for the 2025 crop year.  ARC or PLC programs provide excellent risk protection, for market declines, at no cost to the producer, said Brenda Archuleta, deputy state executive director for FSA. Producers who have not made program elections or signed a contract are urged to contact their local FSA county office as soon as possible to set an appointment so you don’t miss the April 15th deadline.

April 15th deadline to enroll in key commodity safety net programs

May corn closed up 4 cents and July corn was up 3 1/4 cents. May soybeans closed down 8 1/4 cents and July soybeans were down 9 cents. May KC wheat closed up 5 1/4 cents, May Chicago wheat was up 8 3/4 cents, May Minneapolis wheat was up 11 cents.

As alluded to in prior recaps, often the most difficult aspect of USDA releases to gauge is how prices will react to a given estimate. Meaning a bearish number on paper can often translate to a bullish price action given how the figure stacks up against trader expectations as well as price action in the weeks leading up to the report. Monday's Prospective Plantings and Grain Stocks reports from the USDA were a perfect example of this phenomenon. On paper, one would have thought that the higher-than-expected corn acreage and slightly lower-than-expected soybean acreage reported Monday would have translated into corn being down and soybeans being up. In fact, the opposite was true on Monday as corn futures moved higher while soybeans dropped. This price action certainly implies that the Grain Stocks report garnered more attention from corn and soybean traders as compared to the Plantings estimates, which is the opposite of what some expected. Meanwhile, wheat futures gained a spark from a bit of a bullish surprise in the acreage report, ignoring on the other hand what was a sluggish Stocks report.

As the live cattle complex tip-toes into the new week, traders were again cautious not to be overly supportive of the contracts ahead of seeing what's going to develop fundamentally this week. Just last week the futures complex reached yet another new contract high in the spot June contract, so it's natural for traders to be cautious amid reaching new technical highs. All contracts finished in the red by the closing bell. It's likely that the cash cattle market won't trade until Friday again this week. New showlists appear to be mixed, higher in Kansas, somewhat smaller in Texas and lower in Nebraska/Colorado.

The feeder cattle complex is again trapped and feeling unable to take on the resistance pressure of its market, while the live cattle contracts traded lower. The market has seemed to somewhat plateau and unless something riveting happens in the live cattle complex, it's unlikely that the market will move boldly enough on its own to push through this barrier. A few of the far deferred contracts finished the day unchanged, the front months all slightly in the red at the closing bell.

The lean hog complex was trading lower at the day's start, but throughout the morning the market has grew stronger and the contracts traded fully higher into Monday's noon hour. It likely helped that the market had stronger pork cutout values this morning, which is largely stemming from the ham's $4.39 uptick. The strength faded in afternoon trade with only the April contract finishing in the green.

By NATHAN STUEDLESt. Joseph PostGRAINS:May corn closed up 4 cents and July corn was up 3 1/4 cents. May soybeans closed down 8 1/4 cents and July soybeans were down 9 cents. May KC wheat closed up 5 1/4 cents, May Chicago wheat was up 8 3/4 cents, May Minneapolis wheat was up 11 cents.As alluded to in prior recaps, often the most difficult aspect of USDA releases to gauge is how prices will react to a given estimate. Meaning a bearish number on paper can often translate to a bullish price action given how the figure stacks up against trader expectations as well as price action in the weeks leading up to the report. Monday's Prospective Plantings and Grain Stocks reports from the USDA were a perfect example of this phenomenon. On paper, one would have thought that the higher-than-expected corn acreage and slightly lower-than-expected soybean acreage reported Monday would have translated into corn being down and soybeans being up. In fact, the opposite was true on Monday as corn futures moved higher while soybeans dropped. This price action certainly implies that the Grain Stocks report garnered more attention from corn and soybean traders as compared to the Plantings estimates, which is the opposite of what some expected. Meanwhile, wheat futures gained a spark from a bit of a bullish surprise in the acreage report, ignoring on the other hand what was a sluggish Stocks report.LIVESTOCK:As the live cattle complex tip-toes into the new week, traders were again cautious not to be overly supportive of the contracts ahead of seeing what's going to develop fundamentally this week. Just last week the futures complex reached yet another new contract high in the spot June contract, so it's natural for traders to be cautious amid reaching new technical highs. All contracts finished in the red by the closing bell. It's likely that the cash cattle market won't trade until Friday again this week. New showlists appear to be mixed, higher in Kansas, somewhat smaller in Texas and lower in Nebraska/Colorado.The feeder cattle complex is again trapped and feeling unable to take on the resistance pressure of its market, while the live cattle contracts traded lower. The market has seemed to somewhat plateau and unless something riveting happens in the live cattle complex, it's unlikely that the market will move boldly enough on its own to push through this barrier. A few of the far deferred contracts finished the day unchanged, the front months all slightly in the red at the closing bell.The lean hog complex was trading lower at the day's start, but throughout the morning the market has grew stronger and the contracts traded fully higher into Monday's noon hour. It likely helped that the market had stronger pork cutout values this morning, which is largely stemming from the ham's $4.39 uptick. The strength faded in afternoon trade with only the April contract finishing in the green.

Deere and Co. filed an answer to the Federal Trade Commission’s lawsuit alleging the tractor manufacturer holds a monopoly over its repair services. The FTC says that hold unfairly drives up costs and restricts farmers from fixing their equipment in a timely manner. Attorneys defended John Deere in federal court by repeatedly denying allegations that its “business practices are unlawful.” Manufacturing Dive says the issue over equipment repair practices has been building for years, with technological advancements that companies say are designed to make consumers’ lives easier create headaches for those looking to fix their tractors. 

While Deere offers a different repair tool to customers and independent repair shops, the FTC claims that version is inferior to the one available to authorized dealers, saying the tool is allegedly incapable of doing all repairs on Deere equipment. The company acknowledged the existence of two tools but denied that one was inferior.

Deere and Co. filed an answer to the Federal Trade Commission’s lawsuit alleging the tractor manufacturer holds a monopoly over its repair services. The FTC says that hold unfairly drives up costs and restricts farmers from fixing their equipment in a timely manner. Attorneys defended John Deere in federal court by repeatedly denying allegations that its “business practices are unlawful.” Manufacturing Dive says the issue over equipment repair practices has been building for years, with technological advancements that companies say are designed to make consumers’ lives easier create headaches for those looking to fix their tractors. While Deere offers a different repair tool to customers and independent repair shops, the FTC claims that version is inferior to the one available to authorized dealers, saying the tool is allegedly incapable of doing all repairs on Deere equipment. The company acknowledged the existence of two tools but denied that one was inferior.NAFB

Deere responds to right-to-repair lawsuit

May corn closed up 3 1/4 cents and July corn was up 2 cents. May soybeans closed up 6 1/4 cents and July soybeans were up 6 3/4 cents. May KC wheat closed down 14 1/2 cents, May Chicago wheat was down 3 3/4 cents, May Minneapolis wheat was down 7 1/2 cents.

May corn closed down 11 cents and July corn was down 11 1/2 cents. May soybeans closed up 13 1/4 cents and July soybeans were up 15 3/4 cents. May KC wheat closed down 37 cents, May Chicago wheat was down 30 cents and May Minneapolis wheat was down 24 cents.

It was a turbulent session for U.S. ag markets to close the week as heavy pressure in the wheat complex drove both Chicago and Minneapolis contracts to new lows, while KC contracts came dangerously close as well. The plunge in wheat pulled corn and soybean markets down with the former trading to its lowest price of 2025 thus far on May futures. However, the bearish early price action attracted buyers to the corn and soy markets to erase early losses and close higher for the day. Strength in vegetable oil markets stemming from Thursday's report that President Trump had asked oil and biofuel groups to take the lead on determining policy for biofuel processing and potential tax credits also provided bullish influence on corn and soybean prices by late-morning Friday. Outside markets on Friday were mostly bearish, led by Personal Consumption Expenditure data (the Federal Reserve's preferred inflation reading), which came in hotter than expected notably on the core basis, which excludes energy and food prices due to volatility in those sectors. This combined with the latest University of Michigan consumer sentiment reading which fell for the third straight month, had stagflation concerns rampant again among investors and contributed to the Dow Jones Industrial Average's heavy loss on Friday.

After carving out yet another new contract high just yesterday afternoon in the spot June contract, the live cattle complex was twiddling its fingers, holding the market steady as traders wait to see what's going to amount in this week's cash market. The contracts all faded lower at the closing bell.

Once again following in the same suit as the live cattle complex, the feeder cattle contracts traded lower as traders anxiously wait to see what's going to develop in this week's fed cash cattle market. Demand in the countryside remains incredible in terms of buyers' willingness to bid calves and feeders higher and higher, so today's hesitancy was solely technical. All feeder contracts waned at the closing bell to finish lower.

After being able to fully absorb Thursday's supportive Quarterly Hogs and Pigs Report, the lean hog complex is traded higher early on in the session, thanks to the USDA's supportive report and thanks to the uptick in pork cutout prices this morning as well. The market was not able to keep this bullish tone through the day's end, with the near by contracts in the red and the far deferred contracts barely in the black at the closing bell.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/28152733/web-closing-markets.mp3">HERE</a> for audio

By NATHAN STUEDLESt. Joseph PostGRAINS:May corn closed up 3 1/4 cents and July corn was up 2 cents. May soybeans closed up 6 1/4 cents and July soybeans were up 6 3/4 cents. May KC wheat closed down 14 1/2 cents, May Chicago wheat was down 3 3/4 cents, May Minneapolis wheat was down 7 1/2 cents.For the week:May corn closed down 11 cents and July corn was down 11 1/2 cents. May soybeans closed up 13 1/4 cents and July soybeans were up 15 3/4 cents. May KC wheat closed down 37 cents, May Chicago wheat was down 30 cents and May Minneapolis wheat was down 24 cents.It was a turbulent session for U.S. ag markets to close the week as heavy pressure in the wheat complex drove both Chicago and Minneapolis contracts to new lows, while KC contracts came dangerously close as well. The plunge in wheat pulled corn and soybean markets down with the former trading to its lowest price of 2025 thus far on May futures. However, the bearish early price action attracted buyers to the corn and soy markets to erase early losses and close higher for the day. Strength in vegetable oil markets stemming from Thursday's report that President Trump had asked oil and biofuel groups to take the lead on determining policy for biofuel processing and potential tax credits also provided bullish influence on corn and soybean prices by late-morning Friday. Outside markets on Friday were mostly bearish, led by Personal Consumption Expenditure data (the Federal Reserve's preferred inflation reading), which came in hotter than expected notably on the core basis, which excludes energy and food prices due to volatility in those sectors. This combined with the latest University of Michigan consumer sentiment reading which fell for the third straight month, had stagflation concerns rampant again among investors and contributed to the Dow Jones Industrial Average's heavy loss on Friday.LIVESTOCK:After carving out yet another new contract high just yesterday afternoon in the spot June contract, the live cattle complex was twiddling its fingers, holding the market steady as traders wait to see what's going to amount in this week's cash market. The contracts all faded lower at the closing bell. Once again following in the same suit as the live cattle complex, the feeder cattle contracts traded lower as traders anxiously wait to see what's going to develop in this week's fed cash cattle market. Demand in the countryside remains incredible in terms of buyers' willingness to bid calves and feeders higher and higher, so today's hesitancy was solely technical. All feeder contracts waned at the closing bell to finish lower.After being able to fully absorb Thursday's supportive Quarterly Hogs and Pigs Report, the lean hog complex is traded higher early on in the session, thanks to the USDA's supportive report and thanks to the uptick in pork cutout prices this morning as well. The market was not able to keep this bullish tone through the day's end, with the near by contracts in the red and the far deferred contracts barely in the black at the closing bell.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/28152733/web-closing-markets.mp3">HERE</a> for audio

Ag Secretary Brooke Rollins announced the agency would release previously obligated funding under the Rural Energy for America Program, Empowering Rural America, and Powering Affordable Clean Energy programs. Recipients will have 30 days to review and voluntarily revise their project plans to align with the “Unleashing American Energy Executive Order.” This process gives rural electric providers and small businesses the opportunity to refocus their projects on expanding American energy production while eliminating DEI and climate mandates embedded in previous proposals. 

Respondents will be asked to answer several questions and provide a short narrative description of any proposed changes. “This allows us to tackle America’s energy emergence and allows energy providers and small businesses to realign their projects with that mission,” Rollins said. The broader guidance reflects a shift away from the Green New Deal and the Inflation Reduction Act and toward investments that prioritize the needs of rural communities.

Ag Secretary Brooke Rollins announced the agency would release previously obligated funding under the Rural Energy for America Program, Empowering Rural America, and Powering Affordable Clean Energy programs. Recipients will have 30 days to review and voluntarily revise their project plans to align with the “Unleashing American Energy Executive Order.” This process gives rural electric providers and small businesses the opportunity to refocus their projects on expanding American energy production while eliminating DEI and climate mandates embedded in previous proposals. Respondents will be asked to answer several questions and provide a short narrative description of any proposed changes. “This allows us to tackle America’s energy emergence and allows energy providers and small businesses to realign their projects with that mission,” Rollins said. The broader guidance reflects a shift away from the Green New Deal and the Inflation Reduction Act and toward investments that prioritize the needs of rural communities.NAFB

USDA delivers on rural energy commitments

&nbsp;USDA announced the agency would release previously obligated funding under the Rural Energy for America Program, Empowering Rural America, and Powering Affordable Clean Energy programs. Recipients will have 30 days to review and voluntarily revise their project plans to align with the “Unleashing American Energy Executive Order.” This process gives rural electric providers and small businesses the opportunity to refocus their projects on expanding American energy production while eliminating DEI and climate mandates embedded in previous proposals. 

Respondents will be asked to answer several questions and provide a short narrative description of any proposed changes. Ag Secretary Brooke Rollins said, “This allows us to tackle America’s energy emergence and allows energy providers and small businesses to realign their projects with that mission.”&nbsp; The broader guidance reflects a shift away from the Green New Deal and the Inflation Reduction Act and toward investments that prioritize the needs of rural communities.

By NATHAN STUEDLESt. Joseph Post&nbsp;USDA announced the agency would release previously obligated funding under the Rural Energy for America Program, Empowering Rural America, and Powering Affordable Clean Energy programs. Recipients will have 30 days to review and voluntarily revise their project plans to align with the “Unleashing American Energy Executive Order.” This process gives rural electric providers and small businesses the opportunity to refocus their projects on expanding American energy production while eliminating DEI and climate mandates embedded in previous proposals. Respondents will be asked to answer several questions and provide a short narrative description of any proposed changes. Ag Secretary Brooke Rollins said, “This allows us to tackle America’s energy emergence and allows energy providers and small businesses to realign their projects with that mission.”&nbsp; The broader guidance reflects a shift away from the Green New Deal and the Inflation Reduction Act and toward investments that prioritize the needs of rural communities.

National Cattlemen’s Beef Association member Robby Kirkland testified before the House Ways and Means Committee about the association’s trade priorities. He spoke at a hearing titled “American Trade Negotiation Priorities” and highlighted the benefits of past trade agreements for U.S. cattle producers and the need for greater access to foreign markets. 

“Unfortunately, the previous administration stepped back from market access negotiations while our competitors negotiated robust trade agreements and gained advantages in overseas markets,” he said. “It’s past time to re-engage in trade talks to secure preferential and expanded access with our allies in the United Kingdom and key markets in Asia, Africa, Latin America, and the Middle East.” He also told the committee that any country granted access to the U.S. doesn’t put America’s consumers and cattle herds at risk. “There’s a major concern with countries like Brazil and Paraguay, who have a history of Foot-and-Mouth Infection.” 

National Cattlemen’s Beef Association member Robby Kirkland testified before the House Ways and Means Committee about the association’s trade priorities. He spoke at a hearing titled “American Trade Negotiation Priorities” and highlighted the benefits of past trade agreements for U.S. cattle producers and the need for greater access to foreign markets. “Unfortunately, the previous administration stepped back from market access negotiations while our competitors negotiated robust trade agreements and gained advantages in overseas markets,” he said. “It’s past time to re-engage in trade talks to secure preferential and expanded access with our allies in the United Kingdom and key markets in Asia, Africa, Latin America, and the Middle East.” He also told the committee that any country granted access to the U.S. doesn’t put America’s consumers and cattle herds at risk. “There’s a major concern with countries like Brazil and Paraguay, who have a history of Foot-and-Mouth Infection.” NAFB

NCBA outlines trade priorities in hearing

May corn closed down 1 1/4 cents and July corn was down 1 cent. May soybeans closed up 15 3/4 cents and July soybeans were up 15 1/2 cents. May KC wheat closed up 1 1/4 cents, May Chicago wheat was down 3 1/4 cents, May Minneapolis wheat was up 3 1/4 cents.

Soybean futures were able to post a strong double-digit move higher and cover technical ground on bullish optimism ahead of Monday's acreage report. Along those lines, Monday's report is expected to show an increase in both corn and wheat acreage, year-over-year, which is the main source of pressure to those markets, although Kansas City wheat futures were able to showcase an impressive late=session rally to close higher for the day, snapping a streak of three down sessions. In outside markets, a fresh round of tariff headlines centered around the auto-industry has stock indices nervous Thursday, as the Dow Jones posted a two-way trade in the morning before sellers gained the edge. The U.S. Dollar Index is also working lower as a result of added uncertainty on Thursday but overall is firmer for the week.

The live cattle complex got back to trading higher as the contracts are no longer up against immediate pressure of hitting resistance points, and given the fact that traders remain hopeful that cash cattle prices will trade steady to somewhat higher again this week. There's a bid currently on the table in Nebraska at $213, but no trade has developed quite yet. Asking prices are firm in the South from $211 to $212 but are not yet established in the North. Given the strong prices boxed beef prices have seen again this week, it's likely that feedlot managers will be willing to hold out until the week's bitter end for at steady prices, but ideally, they'd like to see higher prices.

Even though the live cattle complex was trading higher, the feeder cattle contracts continued to trade slightly lower much of the session, but as traders witnessed more confidence from the live cattle contracts, they eventually pushed the feeder cattle contracts higher. Nevertheless, the countryside continues to see phenomenal demand from buyers as they know that summertime pastures will be ready in no time.

Even though this morning's export sales report was supportive, the lean hog complex braced ahead of this afternoon's Quarterly Hogs and Pigs Report. It's not helping matters either that pork cutout values were lower, which is adding even more doggishness to the market's tone.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/27142431/web-closing-markets.mp3">HERE</a> for audio

By NATHAN STUEDLESt. Joseph PostGRAINS:May corn closed down 1 1/4 cents and July corn was down 1 cent. May soybeans closed up 15 3/4 cents and July soybeans were up 15 1/2 cents. May KC wheat closed up 1 1/4 cents, May Chicago wheat was down 3 1/4 cents, May Minneapolis wheat was up 3 1/4 cents.Soybean futures were able to post a strong double-digit move higher and cover technical ground on bullish optimism ahead of Monday's acreage report. Along those lines, Monday's report is expected to show an increase in both corn and wheat acreage, year-over-year, which is the main source of pressure to those markets, although Kansas City wheat futures were able to showcase an impressive late=session rally to close higher for the day, snapping a streak of three down sessions. In outside markets, a fresh round of tariff headlines centered around the auto-industry has stock indices nervous Thursday, as the Dow Jones posted a two-way trade in the morning before sellers gained the edge. The U.S. Dollar Index is also working lower as a result of added uncertainty on Thursday but overall is firmer for the week.LIVESTOCK:The live cattle complex got back to trading higher as the contracts are no longer up against immediate pressure of hitting resistance points, and given the fact that traders remain hopeful that cash cattle prices will trade steady to somewhat higher again this week. There's a bid currently on the table in Nebraska at $213, but no trade has developed quite yet. Asking prices are firm in the South from $211 to $212 but are not yet established in the North. Given the strong prices boxed beef prices have seen again this week, it's likely that feedlot managers will be willing to hold out until the week's bitter end for at steady prices, but ideally, they'd like to see higher prices.Even though the live cattle complex was trading higher, the feeder cattle contracts continued to trade slightly lower much of the session, but as traders witnessed more confidence from the live cattle contracts, they eventually pushed the feeder cattle contracts higher. Nevertheless, the countryside continues to see phenomenal demand from buyers as they know that summertime pastures will be ready in no time.Even though this morning's export sales report was supportive, the lean hog complex braced ahead of this afternoon's Quarterly Hogs and Pigs Report. It's not helping matters either that pork cutout values were lower, which is adding even more doggishness to the market's tone. Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/27142431/web-closing-markets.mp3">HERE</a> for audio

May corn closed down 6 1/2 cents and July corn was down 6 1/4 cents. May soybeans closed down 3/4 cents and July soybeans were down 1/2 a cent. May KC wheat closed down 4 1/4 cents, May Chicago wheat was down 8 cents, May Minneapolis wheat was down 3 1/4 cents.

Wednesday was a noticeably reserved session across U.S. markets compared to Tuesday's trade. Corn and wheat markets continued to retreat, but with less downward momentum, at least as wheat futures are concerned. Meanwhile, despite finishing the session fractionally lower, soybean futures found buying support as prices retest $10.00 on front-month May futures, a support level which again held. Outside markets on Wednesday were also quiet as stock indices are correcting slightly after a strong last week-and-a-half of trade. The U.S. dollar is bouncing back from Tuesday's down session, attempting to post a fifth positive day out of the past six, which likely caused some pressure in ag markets for Wednesday, particularly for wheat futures.

After a couple of days of downward pressure, the live cattle complex was again trading higher as the market is no longer up against immediate resistance pressure. Trades are lower noting the continued support of stronger boxed beef prices but are patiently waiting for the cash cattle market to show its hand this week. If prices are again higher, then there's an argument to be made that the contracts could potentially trade higher. But if boxed beef prices and cash prices aren't both higher this week. It's then most likely the contracts won't pressure the high made just last week.

Seeming to mirror the same behavior as the live cattle market, the feeder cattle contracts were back to trading higher. Demand has been incredible this week again for both feeder cattle and calves, with undeniable demand being noted for cattle that are suitable for grass. Buyers know that the closer time gets to turn out season, the more expensive these types of cattle are going to become.

The lean hog complex also traded higher as traders are pleased to see pork cutout values higher again. The spot April contract isn't confident enough to take on the market's resistance at $88.00, but it's still trading higher nonetheless. There's a chance that packers may not be very aggressive in the cash market the rest of the week as they've already bought a number of hogs.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/26145522/web-closing-markets.mp3">HERE</a> for audio

By: NATHAN STUEDLESt. Joseph PostGRAINS:May corn closed down 6 1/2 cents and July corn was down 6 1/4 cents. May soybeans closed down 3/4 cents and July soybeans were down 1/2 a cent. May KC wheat closed down 4 1/4 cents, May Chicago wheat was down 8 cents, May Minneapolis wheat was down 3 1/4 cents.Wednesday was a noticeably reserved session across U.S. markets compared to Tuesday's trade. Corn and wheat markets continued to retreat, but with less downward momentum, at least as wheat futures are concerned. Meanwhile, despite finishing the session fractionally lower, soybean futures found buying support as prices retest $10.00 on front-month May futures, a support level which again held. Outside markets on Wednesday were also quiet as stock indices are correcting slightly after a strong last week-and-a-half of trade. The U.S. dollar is bouncing back from Tuesday's down session, attempting to post a fifth positive day out of the past six, which likely caused some pressure in ag markets for Wednesday, particularly for wheat futures.LIVESTOCK:After a couple of days of downward pressure, the live cattle complex was again trading higher as the market is no longer up against immediate resistance pressure. Trades are lower noting the continued support of stronger boxed beef prices but are patiently waiting for the cash cattle market to show its hand this week. If prices are again higher, then there's an argument to be made that the contracts could potentially trade higher. But if boxed beef prices and cash prices aren't both higher this week. It's then most likely the contracts won't pressure the high made just last week.Seeming to mirror the same behavior as the live cattle market, the feeder cattle contracts were back to trading higher. Demand has been incredible this week again for both feeder cattle and calves, with undeniable demand being noted for cattle that are suitable for grass. Buyers know that the closer time gets to turn out season, the more expensive these types of cattle are going to become.The lean hog complex also traded higher as traders are pleased to see pork cutout values higher again. The spot April contract isn't confident enough to take on the market's resistance at $88.00, but it's still trading higher nonetheless. There's a chance that packers may not be very aggressive in the cash market the rest of the week as they've already bought a number of hogs.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/26145522/web-closing-markets.mp3">HERE</a> for audio

Corn futures were 3 to 6 cents lower at the closing bell with trade fading back to the lower end of the range with softer spread trade. Ethanol margins are expected to continue tracking sideways as well with unleaded firming a bit seasonally to boost blenders. Basis is expected to firm a bit more into early April as fieldwork expands. Double-crop planting in Brazil will wrap up soon with weather looking good for early development.

Soybean futures were 2 to 5 cents lower at the close with oil trying to lead the product complex as we fade back to the lower end of the range as upside remains limited as South American harvest continues to roll forward. South America weather looks to remain cooperative for the finish to the growing season. The daily export wire was quiet as export offers converge for the U.S. and Brazil. Basis is expected to remain flat into the end of the month.

Wheat futures were 5 to 9 cents lower. With trade fading further through nearby support with choppy action continuing with KC the downside leader again Tuesday. Normal to slightly above-normal temps for the Plains this week with better moisture potential for the second week is helping to limit upside as well.

It's been a disgruntling day for the live cattle complex. Even though we knew the market would likely face some technical pressure this week, seeing the contracts trade anywhere close to $2.00 lower at any point is aggravating following the wild success the market had last week. Until traders see what this week's fed cash cattle trade is going to amount to -- they'll likely remain on edge and leery of being too supportive. Asking prices are noted in the South at $212-plus, but are still not established in the North. Trade will likely be delayed until Thursday or Friday.

The feeder cattle complex is also trading lower as it continues to mirror the mannerisms of the live cattle market until some support develops technically. The market's current weakness is largely stemming from trader worry that the complex is overbought.

The lean hog complex traded higher as the market is pleased to see pork cutout values higher. The day's higher note in the carcass price, however, largely is thanks to the whopping $19.39 rally in the belly, while most of the other cuts are trading lower. Nevertheless, traders are electing to view the note of this morning's higher carcass price as positive support.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/25134842/web-closing-markets.mp3">HERE</a> for audio

By: NATHAN STUEDLESt. Joseph PostGRAINS:Corn futures were 3 to 6 cents lower at the closing bell with trade fading back to the lower end of the range with softer spread trade. Ethanol margins are expected to continue tracking sideways as well with unleaded firming a bit seasonally to boost blenders. Basis is expected to firm a bit more into early April as fieldwork expands. Double-crop planting in Brazil will wrap up soon with weather looking good for early development. Soybean futures were 2 to 5 cents lower at the close with oil trying to lead the product complex as we fade back to the lower end of the range as upside remains limited as South American harvest continues to roll forward. South America weather looks to remain cooperative for the finish to the growing season. The daily export wire was quiet as export offers converge for the U.S. and Brazil. Basis is expected to remain flat into the end of the month.Wheat futures were 5 to 9 cents lower. With trade fading further through nearby support with choppy action continuing with KC the downside leader again Tuesday. Normal to slightly above-normal temps for the Plains this week with better moisture potential for the second week is helping to limit upside as well. LIVESTOCK:It's been a disgruntling day for the live cattle complex. Even though we knew the market would likely face some technical pressure this week, seeing the contracts trade anywhere close to $2.00 lower at any point is aggravating following the wild success the market had last week. Until traders see what this week's fed cash cattle trade is going to amount to -- they'll likely remain on edge and leery of being too supportive. Asking prices are noted in the South at $212-plus, but are still not established in the North. Trade will likely be delayed until Thursday or Friday.The feeder cattle complex is also trading lower as it continues to mirror the mannerisms of the live cattle market until some support develops technically. The market's current weakness is largely stemming from trader worry that the complex is overbought.The lean hog complex traded higher as the market is pleased to see pork cutout values higher. The day's higher note in the carcass price, however, largely is thanks to the whopping $19.39 rally in the belly, while most of the other cuts are trading lower. Nevertheless, traders are electing to view the note of this morning's higher carcass price as positive support.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/25134842/web-closing-markets.mp3">HERE</a> for audio

The U.S. has almost doubled egg imports from Brazil and is considering relaxing regulations for eggs laid by chickens raised for meat. The moves come as the Trump Administration is trying to lower record-high egg prices caused by avian influenza. Reports say the administration is also pushing for more imports from countries like Turkey and South Korea, which usually send few eggs to the U.S., and has asked the EU to send more eggs. 

None of the Brazilian or broiler chicken eggs will make it to the grocery store, but they could be used in more processed foods like cake mixes, ice cream, or salad dressing, freeing up more fresh eggs for American shoppers. Ag Secretary Brook Rollins has said they’re talking about importing hundreds of millions of eggs in the short term. It’s significant enough that it will help continue to bring the prices down in the short term.

The U.S. has almost doubled egg imports from Brazil and is considering relaxing regulations for eggs laid by chickens raised for meat. The moves come as the Trump Administration is trying to lower record-high egg prices caused by avian influenza. Reports say the administration is also pushing for more imports from countries like Turkey and South Korea, which usually send few eggs to the U.S., and has asked the EU to send more eggs. None of the Brazilian or broiler chicken eggs will make it to the grocery store, but they could be used in more processed foods like cake mixes, ice cream, or salad dressing, freeing up more fresh eggs for American shoppers. Ag Secretary Brook Rollins has said they’re talking about importing hundreds of millions of eggs in the short term. It’s significant enough that it will help continue to bring the prices down in the short term.- NAFB

U.S. increasing egg imports to combat high prices

May corn closed up 1/4 cents and July corn was up 1/2 cents. May soybeans closed down 2 1/2 cents and July soybeans were down 2 cents. May KC wheat closed down 10 3/4 cents, May Chicago wheat was down 10 cents, May Minneapolis wheat was down 12 3/4 cents.

Monday's trade in agricultural markets picked up more or less where last week left off, as corn and soybean markets traded both sides of even but within a fairly narrow range. Wheat markets continued their decline, with Kansas City futures posting a third down session out of the past four, despite growing concerns regarding dryness in the Southern Plains and already poor crop conditions in the Northern Plains. The weakness in wheat is likely stemming in part from the rallying U.S. dollar, which is working toward a fourth consecutive day higher. Stock indices were also higher to begin the week after it was announced Monday morning that the Trump administration is expected to take much more precise approach to tariff action on April 2, specifically foregoing industry specific tariffs and focusing instead on a specific group of countries for reciprocal measures.

Following Friday's lower close, the live cattle complex was back to rallying, but the market lost its confidence in breaking through the market's high, which was established last week in the June contract at $205. Today's weaker tone in afternoon trade likely stems from the fact that Friday's Cattle on Feed report was indeed bullish, but traders are now seeming to look to the market's fundamentals to dictate whether or not higher prices are in store for the market this week. Last week Southern live cattle traded at mostly $210, which is $7.00 higher than the previous week's weighted average, and Northern dressed cattle traded at mostly $335, which is $10.00 higher than the previous week's weighted average.

Following in line with the live cattle market's direction, the feeder cattle complex also traded higher most of the day until the final hour. The market is fearing some resistance pressure, but if fundamental support proves to be ample again this week, there's always the chance that traders could push the market higher again this week.

Even though the lean hog complex closed higher Friday afternoon, the market is back to trading lower as it waits to see what demand is going to amount to this week. And yes, Pork cutout values are higher this morning, but traders are going to need to see more followed-through support than one day's trade before they'll put much credence in the demand situation. Do note that the Quarterly Hogs and Pigs Report will be released this upcoming Thursday.

GRAINS:May corn closed up 1/4 cents and July corn was up 1/2 cents. May soybeans closed down 2 1/2 cents and July soybeans were down 2 cents. May KC wheat closed down 10 3/4 cents, May Chicago wheat was down 10 cents, May Minneapolis wheat was down 12 3/4 cents.Monday's trade in agricultural markets picked up more or less where last week left off, as corn and soybean markets traded both sides of even but within a fairly narrow range. Wheat markets continued their decline, with Kansas City futures posting a third down session out of the past four, despite growing concerns regarding dryness in the Southern Plains and already poor crop conditions in the Northern Plains. The weakness in wheat is likely stemming in part from the rallying U.S. dollar, which is working toward a fourth consecutive day higher. Stock indices were also higher to begin the week after it was announced Monday morning that the Trump administration is expected to take much more precise approach to tariff action on April 2, specifically foregoing industry specific tariffs and focusing instead on a specific group of countries for reciprocal measures.LIVESTOCK:Following Friday's lower close, the live cattle complex was back to rallying, but the market lost its confidence in breaking through the market's high, which was established last week in the June contract at $205. Today's weaker tone in afternoon trade likely stems from the fact that Friday's Cattle on Feed report was indeed bullish, but traders are now seeming to look to the market's fundamentals to dictate whether or not higher prices are in store for the market this week. Last week Southern live cattle traded at mostly $210, which is $7.00 higher than the previous week's weighted average, and Northern dressed cattle traded at mostly $335, which is $10.00 higher than the previous week's weighted average.Following in line with the live cattle market's direction, the feeder cattle complex also traded higher most of the day until the final hour. The market is fearing some resistance pressure, but if fundamental support proves to be ample again this week, there's always the chance that traders could push the market higher again this week.Even though the lean hog complex closed higher Friday afternoon, the market is back to trading lower as it waits to see what demand is going to amount to this week. And yes, Pork cutout values are higher this morning, but traders are going to need to see more followed-through support than one day's trade before they'll put much credence in the demand situation. Do note that the Quarterly Hogs and Pigs Report will be released this upcoming Thursday.

The USDA announced Bill Beam as the next administrator of the Farm Service Agency. Beam is a Pennsylvania farmer and president of Rural Investment to Protect our Environment, or RIPE. The new administrator will work with the USDA to provide leadership and manage conservation, commodity, disaster, and farm marketing programs. Beam is the Owner and Operator of Beam Farms, Inc., a fourth-generation farmer raising corn, soy, wheat, hay, specialty crops, and beef in Elverson, Pennsylvania.

The USDA announced Bill Beam as the next administrator of the Farm Service Agency. Beam is a Pennsylvania farmer and president of Rural Investment to Protect our Environment, or RIPE. The new administrator will work with the USDA to provide leadership and manage conservation, commodity, disaster, and farm marketing programs. Beam is the Owner and Operator of Beam Farms, Inc., a fourth-generation farmer raising corn, soy, wheat, hay, specialty crops, and beef in Elverson, Pennsylvania.

FSA gets new administrator

Ag Secretary Brooke Rollins hosted a stakeholder update to provide a progress report on USDA’s five-pronged strategy to combat Highly Pathogenic Avian Influenza and lower egg prices. Less than a month after the plan’s rollout, USDA reports significant advancements across all five areas. “Egg prices are falling, farmers are getting some relief, and we are seeing meaningful progress in the fight against avian flu,” Rollins said. “USDA is making targeted investments and driving innovation to keep our food supply strong and affordable.”

Ag Secretary Brooke Rollins hosted a stakeholder update to provide a progress report on USDA’s five-pronged strategy to combat Highly Pathogenic Avian Influenza and lower egg prices. Less than a month after the plan’s rollout, USDA reports significant advancements across all five areas. “Egg prices are falling, farmers are getting some relief, and we are seeing meaningful progress in the fight against avian flu,” Rollins said. “USDA is making targeted investments and driving innovation to keep our food supply strong and affordable.”

USDA updates public on avian flu strategy 

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

May corn closed up 5 3/4 cents and July corn was up 4 cents. May soybeans closed down 6 1/4 cents and July soybeans were down 8 1/2 cents. May KC wheat closed up 2 3/4 cents, May Chicago wheat was up 1 1/4 cents and May Minneapolis wheat was up 3 1/4 cents.

If I could only choose one word to describe this week's grain trade, "uninspired" may be the choice, as markets were unable to move convincingly in either direction as traders await more fundamental clues from the government. Corn and soybean markets finished the week on a sour note as neither were able to build off Thursday's upward momentum and instead erased those gains to close the week. Meanwhile wheat futures found some stability to close the week, with KC contracts managing to hold to meager gains following a two-day selloff which put wheat prices more or less back to where they finished last week. Outside markets Friday leaned negative as stock indices are lower as growth concerns which echoed through the markets in the aftermath of Wednesday's Fed announcement have worn on investors' minds to close the week. On the other hand, the U.S. Dollar Index has found a three-day rally to close the week, as the steady downtrend for the currency since mid-January has seemingly stabilized for now ahead of the next tariff deadline on April 2.

After an incredible week of near non-stop upward momentum, the live cattle complex seems to be holding its breath or pausing its nearly unfathomable rally and is patiently waiting to see what the Cattle on Feed (COF) Report yields. Regardless of what the COF report shows, one could argue that the rally in this week's fed cash cattle market will overpower whatever the COF report details. The fed cash cattle market's movement has been thin, but prices have been hot. So far, Southern live cattle are trading at mostly $210, which is $7 higher than last week's weighted average. Northern dressed cattle are trading at $212 to $214, which is $3 to $5 higher than last week's weighted average. It's rather incredible that on a week when throughput has been reduced because of weather conditions, that packers are still willing to advance the cash market $3 to $7 higher to ensure they have enough supply moving forward. Well done feedlot managers, well done!

Even though fed cash cattle prices are trading higher, traders are reluctant to advance the feeder cattle complex without the support of the live cattle contracts. Friday's weaker technical performance isn't due to any fundamental rhyme or reason, but rather because traders are questioning how much higher the market can actually trade, and as they wait to see what this afternoon's Cattle on Feed report unveils.

After a challenging week, the lean hog complex has finally found some support as its contracts traded higher into Friday's closing bell. It is helpful that again Friday, pork cutout values are higher, which is stemming from a healthy blend of higher prices across nearly all the cuts.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/21135748/web-closing-markets.mp3">HERE</a> for audio

GRAINS:May corn closed down 4 3/4 cents and July corn was down 4 cents. May soybeans closed down 3 1/4 cents and July soybeans were down 3 3/4 cents. May KC wheat closed up 2 1/4 cents, May Chicago wheat was up 1 cent, May Minneapolis wheat was up 1/4 cents.For the week:May corn closed up 5 3/4 cents and July corn was up 4 cents. May soybeans closed down 6 1/4 cents and July soybeans were down 8 1/2 cents. May KC wheat closed up 2 3/4 cents, May Chicago wheat was up 1 1/4 cents and May Minneapolis wheat was up 3 1/4 cents.If I could only choose one word to describe this week's grain trade, "uninspired" may be the choice, as markets were unable to move convincingly in either direction as traders await more fundamental clues from the government. Corn and soybean markets finished the week on a sour note as neither were able to build off Thursday's upward momentum and instead erased those gains to close the week. Meanwhile wheat futures found some stability to close the week, with KC contracts managing to hold to meager gains following a two-day selloff which put wheat prices more or less back to where they finished last week. Outside markets Friday leaned negative as stock indices are lower as growth concerns which echoed through the markets in the aftermath of Wednesday's Fed announcement have worn on investors' minds to close the week. On the other hand, the U.S. Dollar Index has found a three-day rally to close the week, as the steady downtrend for the currency since mid-January has seemingly stabilized for now ahead of the next tariff deadline on April 2.LIVESTOCK:After an incredible week of near non-stop upward momentum, the live cattle complex seems to be holding its breath or pausing its nearly unfathomable rally and is patiently waiting to see what the Cattle on Feed (COF) Report yields. Regardless of what the COF report shows, one could argue that the rally in this week's fed cash cattle market will overpower whatever the COF report details. The fed cash cattle market's movement has been thin, but prices have been hot. So far, Southern live cattle are trading at mostly $210, which is $7 higher than last week's weighted average. Northern dressed cattle are trading at $212 to $214, which is $3 to $5 higher than last week's weighted average. It's rather incredible that on a week when throughput has been reduced because of weather conditions, that packers are still willing to advance the cash market $3 to $7 higher to ensure they have enough supply moving forward. Well done feedlot managers, well done!Even though fed cash cattle prices are trading higher, traders are reluctant to advance the feeder cattle complex without the support of the live cattle contracts. Friday's weaker technical performance isn't due to any fundamental rhyme or reason, but rather because traders are questioning how much higher the market can actually trade, and as they wait to see what this afternoon's Cattle on Feed report unveils.After a challenging week, the lean hog complex has finally found some support as its contracts traded higher into Friday's closing bell. It is helpful that again Friday, pork cutout values are higher, which is stemming from a healthy blend of higher prices across nearly all the cuts.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/21135748/web-closing-markets.mp3">HERE</a> for audio

A proposal from the U.S. Trade Representative to impose new fees on ocean carriers with ties to China could take a major toll on U.S. farmers and ranchers. Two-thirds of all agriculture exports by volume are shipped overseas, and the cost of transporting exports to international trading partners could increase dramatically. In an effort to address China’s dominance in global shipbuilding and logistics, the Trump administration has proposed a series of fees as high as $1.5 million targeting Chinese-operated vessels and Chinese-built vessels that access American ports. 

A proposal from the U.S. Trade Representative to impose new fees on ocean carriers with ties to China could take a major toll on U.S. farmers and ranchers. Two-thirds of all agriculture exports by volume are shipped overseas, and the cost of transporting exports to international trading partners could increase dramatically. In an effort to address China’s dominance in global shipbuilding and logistics, the Trump administration has proposed a series of fees as high as $1.5 million targeting Chinese-operated vessels and Chinese-built vessels that access American ports.