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

Commodity markets daily recap

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.

Ethanol production rises, inventories down

Bayer announced it is leaving the seed treatment equipment business in the U.S. to help bolster the company’s finances. Reports say a spokesman confirmed in an email that Bayer was exiting the business, which makes equipment designed to help treat seeds with products like fungicides and insecticides before the seeds are planted to protect crop yields. An email from Bayer says the company decided to shift resources toward primary areas of strength in crop protection products. 

“This is a difficult decision, but necessary to help secure the financial future of this company,” Bayer said. The company will begin closing a $12 million seed treatment equipment manufacturing facility in Minnesota. The Center had sought to improve research links between equipment and seed treatment products. The Seed Growth Equipment Innovation Center opened in 2015. Bayer says it’s still committed to seed treatments even though it will no longer manufacture the treatment equipment.

Bayer announced it is leaving the seed treatment equipment business in the U.S. to help bolster the company’s finances. Reports say a spokesman confirmed in an email that Bayer was exiting the business, which makes equipment designed to help treat seeds with products like fungicides and insecticides before the seeds are planted to protect crop yields. An email from Bayer says the company decided to shift resources toward primary areas of strength in crop protection products. “This is a difficult decision, but necessary to help secure the financial future of this company,” Bayer said. The company will begin closing a $12 million seed treatment equipment manufacturing facility in Minnesota. The Center had sought to improve research links between equipment and seed treatment products. The Seed Growth Equipment Innovation Center opened in 2015. Bayer says it’s still committed to seed treatments even though it will no longer manufacture the treatment equipment.-NAFB

Bayer exits the seed treatment equipment business

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

Row-crop markets continued to chop without much convincing direction as traders are expressing uncertainty on where to place price bets moving forward ahead of the spring data drop from the USDA on May 12. Meanwhile, equity markets continue to press higher, with the S&amp;P500 officially closing the gap left by the April 2 reciprocal tariff announcement. Despite a hazy GDP reading Thursday, a look at the data showed reasons for optimism, particularly the surge in consumer spending. The U.S. dollar is breaking to the upside on Thursday, trading to its highest level since April 11, which weighed negatively on ag markets for Thursday. Crude oil futures featured a strong reversal action for Thursday, which aided soybean oil prices in a recovery day, which in turn lent strength to soybean futures.

For the bulk of the session the live cattle contracts traded mostly lower amid the light cash trade that took place late Wednesday afternoon, where prices traded anywhere from $5.00 to $8.00 higher. If the futures complex was this blind to the cash cattle market's rally at any other point in time, cattlemen would want to stomp around and throw their hands up in the air. But when you look at the futures complex and thoroughly observe the faithful rally that the market has successfully supported since early April, one can have more grace with traders' technical standstill. After rallying to new contract highs earlier this week traders seem to be hitting the pause button letting the futures contracts trade merely sideways. Fundamental support has been ample already this week, and managed to help the nearby contracts finish higher and the back of the board softly lower.

The feeder cattle complex was feeling the same technical pressure the live cattle contracts were -- as all its contracts traded lower as well, save the spot May contract, as the market seems to be showing that it's finding some technical pressure, it's likely feeder cattle prices will still be able to remain strong, despite what the board is doing, given that we are only weeks away from turn out season to grass, and that supplies are so thin.

It was a challenging morning for the lean hog complex as traders have just fully accepted the morning's positive export report and then were comfortable advancing the contracts again. Pork cutout values are slightly higher too, which could lend a little additional support. But more than anything, traders simply could not deny the strong export report the market received this morning. The contracts aren't up against immediate resistance pressure anymore, which allowed for some minor upward trade.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/01150555/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 1 cent. July soybeans closed up 5 3/4 cents and November soybeans were up 5 3/4 cents. July KC wheat closed down 2 cents, July Chicago wheat was up 1/4 cents, July Minneapolis wheat was down 1 1/2 cents.Row-crop markets continued to chop without much convincing direction as traders are expressing uncertainty on where to place price bets moving forward ahead of the spring data drop from the USDA on May 12. Meanwhile, equity markets continue to press higher, with the S&amp;P500 officially closing the gap left by the April 2 reciprocal tariff announcement. Despite a hazy GDP reading Thursday, a look at the data showed reasons for optimism, particularly the surge in consumer spending. The U.S. dollar is breaking to the upside on Thursday, trading to its highest level since April 11, which weighed negatively on ag markets for Thursday. Crude oil futures featured a strong reversal action for Thursday, which aided soybean oil prices in a recovery day, which in turn lent strength to soybean futures.LIVESTOCK:For the bulk of the session the live cattle contracts traded mostly lower amid the light cash trade that took place late Wednesday afternoon, where prices traded anywhere from $5.00 to $8.00 higher. If the futures complex was this blind to the cash cattle market's rally at any other point in time, cattlemen would want to stomp around and throw their hands up in the air. But when you look at the futures complex and thoroughly observe the faithful rally that the market has successfully supported since early April, one can have more grace with traders' technical standstill. After rallying to new contract highs earlier this week traders seem to be hitting the pause button letting the futures contracts trade merely sideways. Fundamental support has been ample already this week, and managed to help the nearby contracts finish higher and the back of the board softly lower.The feeder cattle complex was feeling the same technical pressure the live cattle contracts were -- as all its contracts traded lower as well, save the spot May contract, as the market seems to be showing that it's finding some technical pressure, it's likely feeder cattle prices will still be able to remain strong, despite what the board is doing, given that we are only weeks away from turn out season to grass, and that supplies are so thin.It was a challenging morning for the lean hog complex as traders have just fully accepted the morning's positive export report and then were comfortable advancing the contracts again. Pork cutout values are slightly higher too, which could lend a little additional support. But more than anything, traders simply could not deny the strong export report the market received this morning. The contracts aren't up against immediate resistance pressure anymore, which allowed for some minor upward trade.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/05/01150555/web-closing-markets.mp3">HERE</a> for audio

The Environmental Protection Agency released its final Insecticide Strategy that identifies practical protections for federally endangered and threatened species from the use of insecticides. At the same time, it also provides flexibility for pesticide users and growers. The Strategy identifies mitigations aimed at protecting more than 900 species listed by the Fish and Wildlife Service that the EPA considers when it registers a new insecticide or reevaluates an existing one. “

We have found common-sense ways to keep endangered species safe that won’t place unneeded burdens on the growers who rely on these tools for their livelihood, and which are necessary to ensure a safe and plentiful food supply,” said Administrator Lee Zeldin. “We are committed to ensuring the agriculture community has the tools they need to protect our country, especially the food supply, from pests and diseases.” EPA will continue to work with stakeholders to update this as additional information becomes available. 

The Environmental Protection Agency released its final Insecticide Strategy that identifies practical protections for federally endangered and threatened species from the use of insecticides. At the same time, it also provides flexibility for pesticide users and growers. The Strategy identifies mitigations aimed at protecting more than 900 species listed by the Fish and Wildlife Service that the EPA considers when it registers a new insecticide or reevaluates an existing one. “We have found common-sense ways to keep endangered species safe that won’t place unneeded burdens on the growers who rely on these tools for their livelihood, and which are necessary to ensure a safe and plentiful food supply,” said Administrator Lee Zeldin. “We are committed to ensuring the agriculture community has the tools they need to protect our country, especially the food supply, from pests and diseases.” EPA will continue to work with stakeholders to update this as additional information becomes available. -NAFB

EPA releases new strategy to protect endangered species

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

In an overall mixed session across ag markets Wednesday, corn and wheat managed to recover some of the early week losses, with the latter finally finding some buying interest as KC and Chicago contracts again set new contract lows early in the session. Soybean futures were under pressure for most of the day, as weak energy markets induced more profit-taking in soybean oil futures. Crude oil prices, in particular, are down for the third straight session, with NYMEX futures working toward the lowest close for the front-month contract in over four years Wednesday. Equity markets were lower but recovered off daily lows. Early pressure can be attributed to U.S. GDP through the first quarter of 2025 reporting the first quarterly decline since 2022, driven primarily by a surge in imports as consumers and businesses attempt to work ahead of planned tariff policy. Losses were trimmed throughout the session, however, after Personal Consumption Expenditure data (a Fed policy favorite), indicated inflation was slightly cooler in March than initially expected.

It will be interesting to see what takes shape this week in the live cattle complex as earlier in the week trader support was plentiful, but upon Wednesday's arrival traders have shown some caution and packers have already begun to offer bids in the North. On the bullish side of the spectrum, feedlot managers are likely going to try to hold out and pressure packers into paying steady/higher prices later this week. On the opposite side of the spectrum, however, packers are desperate to get ahead of the cash cattle market and they're throwing every trick in the book at the marketplace to dramatically reduce throughput, including offering bids early in the week in hopes that some feedlot managers will get antsy and let some cattle go early. But as always, it's too early in the week to say what's going to exactly happen which is why we need to track the market all the more closely.

Just like the live cattle complex, the feeder cattle contracts were also lower as traders are skeptical of getting too far ahead of themselves, and overbuying/over supporting the market much more. It's unlikely the day's lower tone in the futures complex will gravely affect sales in the countryside as buyers know that the availability of feeders/calves is quite thin.

The lean hog complex traded lower as the market is under pressure technically. Without better support from its fundamentals, it's unlikely the contracts will be able to gain any sort of momentum. It's interesting to note that packers were fairly aggressive in the day's cash market, but pork cutout values continued to drift lower.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/30193548/web-closing-markets-1.mp3">HERE</a> for audio

By: NATHAN STUEDLESt. Joseph PostGRAINS:July corn closed up 5 1/4 cents and December corn was up 1 3/4 cents. July soybeans closed down 8 1/4 cents and November soybeans were down 7 cents. July KC wheat closed down 1 1/2 cents, July Chicago wheat was up 5 1/4 cents, July Minneapolis wheat was up 4 1/4 cents.In an overall mixed session across ag markets Wednesday, corn and wheat managed to recover some of the early week losses, with the latter finally finding some buying interest as KC and Chicago contracts again set new contract lows early in the session. Soybean futures were under pressure for most of the day, as weak energy markets induced more profit-taking in soybean oil futures. Crude oil prices, in particular, are down for the third straight session, with NYMEX futures working toward the lowest close for the front-month contract in over four years Wednesday. Equity markets were lower but recovered off daily lows. Early pressure can be attributed to U.S. GDP through the first quarter of 2025 reporting the first quarterly decline since 2022, driven primarily by a surge in imports as consumers and businesses attempt to work ahead of planned tariff policy. Losses were trimmed throughout the session, however, after Personal Consumption Expenditure data (a Fed policy favorite), indicated inflation was slightly cooler in March than initially expected.LIVESTOCK:It will be interesting to see what takes shape this week in the live cattle complex as earlier in the week trader support was plentiful, but upon Wednesday's arrival traders have shown some caution and packers have already begun to offer bids in the North. On the bullish side of the spectrum, feedlot managers are likely going to try to hold out and pressure packers into paying steady/higher prices later this week. On the opposite side of the spectrum, however, packers are desperate to get ahead of the cash cattle market and they're throwing every trick in the book at the marketplace to dramatically reduce throughput, including offering bids early in the week in hopes that some feedlot managers will get antsy and let some cattle go early. But as always, it's too early in the week to say what's going to exactly happen which is why we need to track the market all the more closely. Just like the live cattle complex, the feeder cattle contracts were also lower as traders are skeptical of getting too far ahead of themselves, and overbuying/over supporting the market much more. It's unlikely the day's lower tone in the futures complex will gravely affect sales in the countryside as buyers know that the availability of feeders/calves is quite thin.The lean hog complex traded lower as the market is under pressure technically. Without better support from its fundamentals, it's unlikely the contracts will be able to gain any sort of momentum. It's interesting to note that packers were fairly aggressive in the day's cash market, but pork cutout values continued to drift lower.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/30193548/web-closing-markets-1.mp3">HERE</a> for audio

The Environmental Protection Agency issued an emergency fuel waiver allowing sales of E15 gasoline nationwide during the summer driving season. By doing this, the EPA keeps E15 on the market, giving consumers more choices at pumps across the nation. Several U.S. agriculture and biofuel supporters reacted positively. “EPA’s decision is a step toward greater American energy dominance,” said Growth Energy CEO Emily Skor. “More fuel in the marketplace allows Americans to spend less of their hard-earned money at the pump this summer.” 

The National Corn Growers Association says this waiver helps corn growers and rural communities.&nbsp; NCGA President Kenneth Hartman Jr. says, “We deeply appreciate the administration and the EPA for making year-round access to E15 a priority.”&nbsp; &nbsp;Rob Larew, president of the National Farmers Union, says nationwide E15 is a huge win for American farmers and consumers. “This creates new markets for farmers and keeps more energy dollars here,” Larew said. 

By: NATHAN STUEDLESt. Joseph PostThe Environmental Protection Agency issued an emergency fuel waiver allowing sales of E15 gasoline nationwide during the summer driving season. By doing this, the EPA keeps E15 on the market, giving consumers more choices at pumps across the nation. Several U.S. agriculture and biofuel supporters reacted positively. “EPA’s decision is a step toward greater American energy dominance,” said Growth Energy CEO Emily Skor. “More fuel in the marketplace allows Americans to spend less of their hard-earned money at the pump this summer.” The National Corn Growers Association says this waiver helps corn growers and rural communities.&nbsp; NCGA President Kenneth Hartman Jr. says, “We deeply appreciate the administration and the EPA for making year-round access to E15 a priority.”&nbsp; &nbsp;Rob Larew, president of the National Farmers Union, says nationwide E15 is a huge win for American farmers and consumers. “This creates new markets for farmers and keeps more energy dollars here,” Larew said.

EPA allows nationwide E15 sales for Summer

July corn closed down 13 cents and December corn was down 5 3/4 cents. July soybeans closed down 9 3/4 cents and November soybeans were down 9 1/2 cents. July KC wheat closed down 8 3/4 cents, July Chicago wheat was down 5 1/2 cents, July Minneapolis wheat was down 4 cents.

Active sellers were denied on Monday when buyers stepped in by late morning to reject the attempted move lower in soybean and corn futures. No such buying spree arrived for Tuesday, however, as sellers remained in firm control of the market for the majority of the session. Corn and soybean planting pace remained above average for the time of year in Monday afternoon's Crop Progress report from USDA. Meanwhile, winter wheat conditions were improved as well, benefiting from recent rainfall across growing regions. Outside markets leaned bearish to grain prices as well with the U.S. dollar inching higher, as well as weaker energy markets leading the vegetable oil market lower, which offered negative influence on soybean futures.

The live cattle complex continues to diligently trade higher and higher seeming to shock even the most bullish-minded folks. Etching out new contract highs is currently the market's norm, and with ample fundamental support, it's anyone's guess at this point where the top could be. Nothing has surfaced yet for this week's cash cattle trade, and it's not likely that anything will before Thursday or Friday. Feedlot managers are again going to aim for higher prices, but with packers cutting throughput drastically, steady prices may be the best feedlot managers get this week unless packers are still short-bought.

The feeder cattle complex is hungry for more and it's not being bashful about how it is aggressively trading higher. And thankfully, the feeder cattle complex has been robustly supported in terms of fundamental support as buyers are actively seeking out calves/feeders to sure up their orders as turn out season is quickly approaching.

Although pork cutout values were slightly higher, the lean hog contracts traded mostly lower as traders simply need more fundamental encouragement. The market has posted a considerable rally since the first week of April, but now that traders are feeling some resistance pressure, it seems as though traders are scratching their heads and looking around for more support.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/29142509/web-closing-markets.mp3">HERE</a> for audio

By: NATHAN STUEDLESt. Joseph PostGRAINS:July corn closed down 13 cents and December corn was down 5 3/4 cents. July soybeans closed down 9 3/4 cents and November soybeans were down 9 1/2 cents. July KC wheat closed down 8 3/4 cents, July Chicago wheat was down 5 1/2 cents, July Minneapolis wheat was down 4 cents.Active sellers were denied on Monday when buyers stepped in by late morning to reject the attempted move lower in soybean and corn futures. No such buying spree arrived for Tuesday, however, as sellers remained in firm control of the market for the majority of the session. Corn and soybean planting pace remained above average for the time of year in Monday afternoon's Crop Progress report from USDA. Meanwhile, winter wheat conditions were improved as well, benefiting from recent rainfall across growing regions. Outside markets leaned bearish to grain prices as well with the U.S. dollar inching higher, as well as weaker energy markets leading the vegetable oil market lower, which offered negative influence on soybean futures.LIVESTOCK:The live cattle complex continues to diligently trade higher and higher seeming to shock even the most bullish-minded folks. Etching out new contract highs is currently the market's norm, and with ample fundamental support, it's anyone's guess at this point where the top could be. Nothing has surfaced yet for this week's cash cattle trade, and it's not likely that anything will before Thursday or Friday. Feedlot managers are again going to aim for higher prices, but with packers cutting throughput drastically, steady prices may be the best feedlot managers get this week unless packers are still short-bought.The feeder cattle complex is hungry for more and it's not being bashful about how it is aggressively trading higher. And thankfully, the feeder cattle complex has been robustly supported in terms of fundamental support as buyers are actively seeking out calves/feeders to sure up their orders as turn out season is quickly approaching.Although pork cutout values were slightly higher, the lean hog contracts traded mostly lower as traders simply need more fundamental encouragement. The market has posted a considerable rally since the first week of April, but now that traders are feeling some resistance pressure, it seems as though traders are scratching their heads and looking around for more support. Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/29142509/web-closing-markets.mp3">HERE</a> for audio

Family farm bankruptcies increased by 55% last year compared to 2023 and are trending even higher this year as farmers continue to grapple with depressed agricultural commodity prices and high input costs. While much of the industry-wide distress predates his second stint in the White House, President Donald Trump has quickly nudged more farmers closer to the brink of going under and created turbulence for producers trying to make ends meet.  

Unpredictable tariffs, immigration overhauls, federal program cuts, and frozen Agriculture Department funding are now part of the discussions farmers are having as they seek financial help. “'What’s going on in Washington?' is the subject of almost every conversation that I have,” said farm bankruptcy attorney David Mills. Farm bankruptcy filings soared in 2019 during the height of Trump’s trade war with China, which targeted U.S. agriculture with a sweeping retaliatory tariff regime mirroring the response China is pursuing today. Trump’s administration sent farmers an estimated $23 billion covering export losses to try to stop more farms from going under.

Family farm bankruptcies increased by 55% last year compared to 2023 and are trending even higher this year as farmers continue to grapple with depressed agricultural commodity prices and high input costs. While much of the industry-wide distress predates his second stint in the White House, President Donald Trump has quickly nudged more farmers closer to the brink of going under and created turbulence for producers trying to make ends meet. Unpredictable tariffs, immigration overhauls, federal program cuts, and frozen Agriculture Department funding are now part of the discussions farmers are having as they seek financial help. “'What’s going on in Washington?' is the subject of almost every conversation that I have,” said farm bankruptcy attorney David Mills. Farm bankruptcy filings soared in 2019 during the height of Trump’s trade war with China, which targeted U.S. agriculture with a sweeping retaliatory tariff regime mirroring the response China is pursuing today. Trump’s administration sent farmers an estimated $23 billion covering export losses to try to stop more farms from going under.-NAFB

Farm bankruptcies on the rise again in 2025 

In Missouri there were just 2.9 days suitable for fieldwork state-wide in the week ending April 27th. The average temperature was 62.5 degrees, 4.0 degrees above normal. Precipitation averaged 1.4 inches, 0.4 inches above normal. Topsoil moisture supply was rated at 3 percent short, 74 percent adequate, and 23 percent surplus. Subsoil moisture supply was rated 7 percent short to very short, 82 percent adequate, and 11 percent surplus.

By: NATHAN STUEDLESt. Joseph PostIn Missouri there were just 2.9 days suitable for fieldwork state-wide in the week ending April 27th. The average temperature was 62.5 degrees, 4.0 degrees above normal. Precipitation averaged 1.4 inches, 0.4 inches above normal. Topsoil moisture supply was rated at 3 percent short, 74 percent adequate, and 23 percent surplus. Subsoil moisture supply was rated 7 percent short to very short, 82 percent adequate, and 11 percent surplus.

Missouri planting progress, crop conditions

July corn closed down 2 1/4 cents and December corn was down 5 1/2 cents. July soybeans closed up 3 1/4 cents and November soybeans were down 1/4 cents. July KC wheat closed down 11 1/4 cents, July Chicago wheat was down 14 cents, July Minneapolis wheat was down 9 1/2 cents.

Row-crop prices were lower to start the new week, although corn and soybean futures found support by midmorning and were able to recover most of their losses. Wheat futures continue to be a popular short among traders, as Kansas City and Chicago July contracts sank to new contract lows Monday. The early weakness in corn and soybean futures can likely at least be partially attributed to conflicting reports regarding the state of trade negotiations between the U.S. and China. Outside markets were quiet and mixed for Monday as stock indices are very close to a complete recovery of losses stemming from the April 2 through April 7 tariff rout. This week is a big tech sector earnings week, which may give investors some distraction from trade-related headlines but will also undoubtedly offer insight into the effects of tariffs thus far through 2025. The U.S. dollar also edged lower Monday, perhaps offering some midday support to corn and soybean markets, although wheat futures have largely ignored any outside market signals through their two-week selloff.

The live cattle complex continued to lean into Monday trade, fully taking advantage of all the support traders were willing to lend. Later this week, the spot April contract will expire, and the June live cattle contract will take front and center stage. Currently, the market's bullish push has already put the June contract at yet another new contract high. New showlists appear to be mixed, higher in Kansas, but lower in Texas and Nebraska/Colorado. Last week's cash cattle trade was delayed until Friday, and feedlot managers' patient marketing strategy paid dividends as prices were sharply higher. Live cattle in Kansas traded for mostly $213, which is $3 higher than the previous week's weighted average. Live cattle in Texas traded for mostly $212, which is $2 higher than the previous week's weighted average. Northern dressed cattle traded at mostly $342 to $343, which is $5 to $6 higher than the previous week's weighed average.

It's was intriguing to watch the feeder cattle complex trade through the morning as at the market's start, the spot August contract gapped higher, then shortly thereafter, traders filled in the gap but have since again pushed the contract back higher. The live cattle complex was thankful to see fed cash cattle prices trade higher last week, but the feeder cattle complex hasn't been short of support either as demand in the countryside has been red hot, with buyers knowing that the turn out season is rapidly approaching.

The lean hog complex is continuing to rally, for the most part, on the momentum which the market possessed last week. If traders are going to break through the resistance created last Friday in the spot June contract, they're going to need to see tremendous fundamental support again this week. And while midday pork cutout values were mildly higher, steady and stable demand is more of what they're looking for.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/28154046/web-closing-markets.mp3">HERE</a> for audio

By: NATHAN STUEDLESt. Joseph PostGRAINS:July corn closed down 2 1/4 cents and December corn was down 5 1/2 cents. July soybeans closed up 3 1/4 cents and November soybeans were down 1/4 cents. July KC wheat closed down 11 1/4 cents, July Chicago wheat was down 14 cents, July Minneapolis wheat was down 9 1/2 cents.Row-crop prices were lower to start the new week, although corn and soybean futures found support by midmorning and were able to recover most of their losses. Wheat futures continue to be a popular short among traders, as Kansas City and Chicago July contracts sank to new contract lows Monday. The early weakness in corn and soybean futures can likely at least be partially attributed to conflicting reports regarding the state of trade negotiations between the U.S. and China. Outside markets were quiet and mixed for Monday as stock indices are very close to a complete recovery of losses stemming from the April 2 through April 7 tariff rout. This week is a big tech sector earnings week, which may give investors some distraction from trade-related headlines but will also undoubtedly offer insight into the effects of tariffs thus far through 2025. The U.S. dollar also edged lower Monday, perhaps offering some midday support to corn and soybean markets, although wheat futures have largely ignored any outside market signals through their two-week selloff.LIVESTOCK:The live cattle complex continued to lean into Monday trade, fully taking advantage of all the support traders were willing to lend. Later this week, the spot April contract will expire, and the June live cattle contract will take front and center stage. Currently, the market's bullish push has already put the June contract at yet another new contract high. New showlists appear to be mixed, higher in Kansas, but lower in Texas and Nebraska/Colorado. Last week's cash cattle trade was delayed until Friday, and feedlot managers' patient marketing strategy paid dividends as prices were sharply higher. Live cattle in Kansas traded for mostly $213, which is $3 higher than the previous week's weighted average. Live cattle in Texas traded for mostly $212, which is $2 higher than the previous week's weighted average. Northern dressed cattle traded at mostly $342 to $343, which is $5 to $6 higher than the previous week's weighed average. It's was intriguing to watch the feeder cattle complex trade through the morning as at the market's start, the spot August contract gapped higher, then shortly thereafter, traders filled in the gap but have since again pushed the contract back higher. The live cattle complex was thankful to see fed cash cattle prices trade higher last week, but the feeder cattle complex hasn't been short of support either as demand in the countryside has been red hot, with buyers knowing that the turn out season is rapidly approaching. The lean hog complex is continuing to rally, for the most part, on the momentum which the market possessed last week. If traders are going to break through the resistance created last Friday in the spot June contract, they're going to need to see tremendous fundamental support again this week. And while midday pork cutout values were mildly higher, steady and stable demand is more of what they're looking for. Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/28154046/web-closing-markets.mp3">HERE</a> for audio

U.S. industrial hemp production rose sharply in 2024, with total crop value reaching $445 million, a 40 percent increase over the previous year, according to the latest National Hemp Report. Planted acreage expanded to nearly 45,300 acres, up 64 percent from 2023. Harvested acreage climbed 60 percent to just under 32,700 acres. The growth reflects both increased planting and higher yields, which rose from 669 to 1,757 pounds per acre. 

Floral hemp led the surge, with production more than doubling to 20.8 million pounds, a 159 percent jump year over year. It accounted for 87 percent of the total value of hemp grown in the open, cementing its position as the industry’s economic driver. Seed hemp also posted notable gains. Its value rose nearly 500 percent to $16.9 million, the largest percentage increase among hemp categories. The report signals renewed momentum in the hemp sector, following several years of market fluctuation after legalization under the 2018 Farm Bill.

U.S. industrial hemp production rose sharply in 2024, with total crop value reaching $445 million, a 40 percent increase over the previous year, according to the latest National Hemp Report. Planted acreage expanded to nearly 45,300 acres, up 64 percent from 2023. Harvested acreage climbed 60 percent to just under 32,700 acres. The growth reflects both increased planting and higher yields, which rose from 669 to 1,757 pounds per acre. Floral hemp led the surge, with production more than doubling to 20.8 million pounds, a 159 percent jump year over year. It accounted for 87 percent of the total value of hemp grown in the open, cementing its position as the industry’s economic driver. Seed hemp also posted notable gains. Its value rose nearly 500 percent to $16.9 million, the largest percentage increase among hemp categories. The report signals renewed momentum in the hemp sector, following several years of market fluctuation after legalization under the 2018 Farm Bill.-NAFB

Hemp acreage on the rise

America urgently needs immigration reform to support US farmers, Land O’ Lakes CEO, Beth Ford, said late last week. Farmers want to support US President Donald Trump’s economic agenda, but there is “real concern” over possible labor shortages and lost profits. “What needs to be recognized is the necessity, that farmers have labor available,” Ford said. “Immigration reform, broadly, is critical.” Farmers “invest in this country,” adding that the industry is over represented in the military. 

“At the same time, there’s real concern. The first thing they talk to me about is labor, immigration, and the lack of available labor for their farms.” Immigrants make up roughly half of America’s farm laborers, said Ford, who chairs the Business Roundtable’s immigration committee. Commodity prices have slid in recent years and many farmers don’t turn a profit. With Trump’s tariffs now threatening exports, Ford said she is most worried about 2026, and how duties will reshape the trade landscape.

America urgently needs immigration reform to support US farmers, Land O’ Lakes CEO, Beth Ford, said late last week. Farmers want to support US President Donald Trump’s economic agenda, but there is “real concern” over possible labor shortages and lost profits. “What needs to be recognized is the necessity, that farmers have labor available,” Ford said. “Immigration reform, broadly, is critical.” Farmers “invest in this country,” adding that the industry is over represented in the military. “At the same time, there’s real concern. The first thing they talk to me about is labor, immigration, and the lack of available labor for their farms.” Immigrants make up roughly half of America’s farm laborers, said Ford, who chairs the Business Roundtable’s immigration committee. Commodity prices have slid in recent years and many farmers don’t turn a profit. With Trump’s tariffs now threatening exports, Ford said she is most worried about 2026, and how duties will reshape the trade landscape.-NAFB

Land O’ Lakes CEO says Trump policies are "Real Concern" in rural America

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

July corn closed down 4 3/4 cents and December corn was down 10 1/4 cents. July soybeans closed up 11 1/2 cents and November soybeans were up 2 1/2 cents. July KC wheat closed down 19 cents, July Chicago wheat was down 17 1/4 cents and July Minneapolis wheat was down 13 cents.

Agricultural markets were mixed across the board on Friday with no sizeable price shifts to speak of as trading volumes relaxed into the weekend. Corn futures inched higher following Thursday's technical rally, while soybeans and soybean oil prices eased back following strong sessions on Thursday. Wheat markets appear to have found support for the time being near contract lows, but wheat traders are keeping their fingers close to the sell button, so far not seeing any convincing developments to break out of their bearish bias. Outside markets were also quiet for Friday, with stock indices mixed, with the Dow Jones Industrial Average down but rallying off daily lows which were set following a low Consumer Confidence reading from the University of Michigan Friday morning. There remains an undertone of optimism behind the markets to finish the week, following positive trade-related reports, including rumors that the U.S. and Japan are close to a deal, which -- given Japan's importance to the U.S. as an agricultural customer -- has great potential to include purchases of U.S. grains as a part of any agreement.

The live cattle complex has been rocked back on its heels as traders tried to patiently wait for this week's cash cattle trade to develop -- but their patience is ran thin. It's assumed cash cattle prices would trade higher this week -- which traders loved the idea of as stronger cash prices will complement their push of the contracts this past week; but they also don't want to put the cart before the horse anymore and anticipate in good faith too much. More than anything traders seemed to be holding the contracts just shy of steady until developments in the cash market surface. Bids of $210 to $212 were reported in Kansas -- but feedlot managers in the South are firm in their asking prices of $214 to $215.

The spot August feeder cattle contract is inching, slowly but surely, up to the market's resistance as the August contract has a resistance threshold at $293.70. Given the grandiose support the market has seen this past week in the countryside for both feeder cattle and calves -- it's tough to say the market doesn't possess enough support to challenge resistance, it did challenge and passed that resistance mark by the closing bell.

Following the last couple days where the lean hog complex endured some pressure, traders treated the market to a sporty rally Friday which is being well complemented as both cash prices and pork cutout values are higher. Traders have already broken through the market's resistance, so it's likely they'll maintain this rally at least in the short term.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/25143754/web-closing-markets.mp3">HERE</a> for audio

By: NATHAN STUEDLESt. Joseph PostGRAINS:July corn closed up 1 1/2 cents and December corn was down 3/4 cents. July soybeans closed down 2 3/4 cents and November soybeans were down 1/2 cents. July KC wheat closed up 1/4 cents, July Chicago wheat was up 1/2 cents, July Minneapolis wheat was down 1 1/2 cents.For the week:July corn closed down 4 3/4 cents and December corn was down 10 1/4 cents. July soybeans closed up 11 1/2 cents and November soybeans were up 2 1/2 cents. July KC wheat closed down 19 cents, July Chicago wheat was down 17 1/4 cents and July Minneapolis wheat was down 13 cents.Agricultural markets were mixed across the board on Friday with no sizeable price shifts to speak of as trading volumes relaxed into the weekend. Corn futures inched higher following Thursday's technical rally, while soybeans and soybean oil prices eased back following strong sessions on Thursday. Wheat markets appear to have found support for the time being near contract lows, but wheat traders are keeping their fingers close to the sell button, so far not seeing any convincing developments to break out of their bearish bias. Outside markets were also quiet for Friday, with stock indices mixed, with the Dow Jones Industrial Average down but rallying off daily lows which were set following a low Consumer Confidence reading from the University of Michigan Friday morning. There remains an undertone of optimism behind the markets to finish the week, following positive trade-related reports, including rumors that the U.S. and Japan are close to a deal, which -- given Japan's importance to the U.S. as an agricultural customer -- has great potential to include purchases of U.S. grains as a part of any agreement.LIVESTOCK:The live cattle complex has been rocked back on its heels as traders tried to patiently wait for this week's cash cattle trade to develop -- but their patience is ran thin. It's assumed cash cattle prices would trade higher this week -- which traders loved the idea of as stronger cash prices will complement their push of the contracts this past week; but they also don't want to put the cart before the horse anymore and anticipate in good faith too much. More than anything traders seemed to be holding the contracts just shy of steady until developments in the cash market surface. Bids of $210 to $212 were reported in Kansas -- but feedlot managers in the South are firm in their asking prices of $214 to $215. The spot August feeder cattle contract is inching, slowly but surely, up to the market's resistance as the August contract has a resistance threshold at $293.70. Given the grandiose support the market has seen this past week in the countryside for both feeder cattle and calves -- it's tough to say the market doesn't possess enough support to challenge resistance, it did challenge and passed that resistance mark by the closing bell.Following the last couple days where the lean hog complex endured some pressure, traders treated the market to a sporty rally Friday which is being well complemented as both cash prices and pork cutout values are higher. Traders have already broken through the market's resistance, so it's likely they'll maintain this rally at least in the short term.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/25143754/web-closing-markets.mp3">HERE</a> for audio

Ethanol output jumped to the highest level in three weeks, and inventories dropped during the seven days ending on April 18. Data from the Energy Information Administration says production rose to an average of 1.033 million barrels a day. That’s up from 1.012 million barrels the week prior and the highest since March 28. 

The Midwest produces the most ethanol in the country, and output rose to 976,000 barrels a day up from 955,000 the previous week, also the highest in three weeks. Gulf Coast production increased to 25,000 barrels a day, up from 24,000 barrels a week earlier. That was all the gains, as East Coast output was unchanged for the third straight week at 12,000 barrels a day. Rocky Mountain production fell by 1,000 barrels a day to 10,000 barrels on average, and West Coast output dropped by the same amount to 9,000 barrels a day. 

By: NATHAN STUEDLESt. Joseph PostEthanol output jumped to the highest level in three weeks, and inventories dropped during the seven days ending on April 18. Data from the Energy Information Administration says production rose to an average of 1.033 million barrels a day. That’s up from 1.012 million barrels the week prior and the highest since March 28. The Midwest produces the most ethanol in the country, and output rose to 976,000 barrels a day up from 955,000 the previous week, also the highest in three weeks. Gulf Coast production increased to 25,000 barrels a day, up from 24,000 barrels a week earlier. That was all the gains, as East Coast output was unchanged for the third straight week at 12,000 barrels a day. Rocky Mountain production fell by 1,000 barrels a day to 10,000 barrels on average, and West Coast output dropped by the same amount to 9,000 barrels a day.

Highest ethanol production in three weeks

For most U.S. farm households, income from off-farm jobs like teaching, driving a bus, or managing a bank branch helps keep an operation running. In 2023, an AFBF Market Intel Report says 23 percent of farm household income for farm families comes from farming itself, which means 77 percent of the income comes from other sources. In 2023, 96 percent of farm operators earned money from off-farm sources. 

About 72 percent of the off-farm income in recent years has come from earned sources like wages and salaries (61 percent) and non-farm business income (11 percent). The other 28 percent came from unearned sources like Social Security, veteran’s benefits, pensions, dividends, and interest. The smaller the farm, the more dependent on off-farm employment. Among farms with less than $100,000 in gross sales, over 60 percent of those operators worked at least one day off the farm. 

For most U.S. farm households, income from off-farm jobs like teaching, driving a bus, or managing a bank branch helps keep an operation running. In 2023, an AFBF Market Intel Report says 23 percent of farm household income for farm families comes from farming itself, which means 77 percent of the income comes from other sources. In 2023, 96 percent of farm operators earned money from off-farm sources. About 72 percent of the off-farm income in recent years has come from earned sources like wages and salaries (61 percent) and non-farm business income (11 percent). The other 28 percent came from unearned sources like Social Security, veteran’s benefits, pensions, dividends, and interest. The smaller the farm, the more dependent on off-farm employment. Among farms with less than $100,000 in gross sales, over 60 percent of those operators worked at least one day off the farm. -NAFB

Off-farm income keeping some operations afloat

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

It was overall a strong day for U.S. row-crop markets as corn and wheat futures reversed from recent down spells in price, attracting buyers at support points on their respective charts. For wheat, prices spent much of the session lower before buyers stepped in by the early afternoon to spark a reversal. Soybean futures accelerated gains throughout the session, turning what was initially a respectable 5- to 6-cent move into a double-digit push higher, making technical headway in the process. Outside markets were mostly of a positive influence on the ag complex Thursday, with stock indices higher, a weaker U.S. dollar, and steady energy prices.

The live cattle complex yet again traded mostly higher as traders continue to believe in the market's long-term bullishness. The nearby June contract the lone exception only slightly lower, but that seems to be a mere pause in the market's rally until traders are given green-light fundamentally, which hopefully will come in the form of stronger cash cattle sales. It's fully anticipated that fed cash cattle prices will be higher again this week, but no trade has developed just yet.

The feeder cattle complex finished the session strong in the last hour of trade, eliminating red from the board. Traders are hoping more fundamental support will develop but have nothing tangible to ease their jitters. Demand still remains utterly incredible in the countryside, and that seems to be helping traders in this exact scenario.

The only real win throughout the day for the lean hog complex was the fact that midday pork cutout values were higher. But in the wake of sharply lower exports, lower cash prices and some technical hesitancy, the contracts were trading softly lower. At this point it's likely that packers have fulfilled their bulk needs in the cash market and will only vaguely participate through the remainder of the week.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/24145520/web-closing-markets.mp3">HERE</a> for audio

By: NATHAN STUEDLESt. Joseph PostGRAINS:May corn closed up 5 1/4 cents and December corn was up 2 cents. May soybeans closed up 12 3/4 cents and November soybeans were up 8 cents. July KC wheat closed up 1/2 cents, July Chicago wheat was up 1 cents, July Minneapolis wheat was up 3/4 cents.It was overall a strong day for U.S. row-crop markets as corn and wheat futures reversed from recent down spells in price, attracting buyers at support points on their respective charts. For wheat, prices spent much of the session lower before buyers stepped in by the early afternoon to spark a reversal. Soybean futures accelerated gains throughout the session, turning what was initially a respectable 5- to 6-cent move into a double-digit push higher, making technical headway in the process. Outside markets were mostly of a positive influence on the ag complex Thursday, with stock indices higher, a weaker U.S. dollar, and steady energy prices.LIVESTOCK:The live cattle complex yet again traded mostly higher as traders continue to believe in the market's long-term bullishness. The nearby June contract the lone exception only slightly lower, but that seems to be a mere pause in the market's rally until traders are given green-light fundamentally, which hopefully will come in the form of stronger cash cattle sales. It's fully anticipated that fed cash cattle prices will be higher again this week, but no trade has developed just yet. The feeder cattle complex finished the session strong in the last hour of trade, eliminating red from the board. Traders are hoping more fundamental support will develop but have nothing tangible to ease their jitters. Demand still remains utterly incredible in the countryside, and that seems to be helping traders in this exact scenario.The only real win throughout the day for the lean hog complex was the fact that midday pork cutout values were higher. But in the wake of sharply lower exports, lower cash prices and some technical hesitancy, the contracts were trading softly lower. At this point it's likely that packers have fulfilled their bulk needs in the cash market and will only vaguely participate through the remainder of the week.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/04/24145520/web-closing-markets.mp3">HERE</a> for audio