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.

Proposed fees on ocean carriers bad for farmers

The National FFA Organization is proud to announce that its more than one million members, alumni, and supporters raised more than $1.6 million during the tenth annual Give FFA Day. The money raised will directly support FFA and agricultural education for local FFA Chapters, state FFA associations, and the National FFA as a whole. It’s the most money raised for FFA in a single day, following more than $1.4 million donated during last year’s Give FFA Day event.

The National FFA Organization is proud to announce that its more than one million members, alumni, and supporters raised more than $1.6 million during the tenth annual Give FFA Day. The money raised will directly support FFA and agricultural education for local FFA Chapters, state FFA associations, and the National FFA as a whole. It’s the most money raised for FFA in a single day, following more than $1.4 million donated during last year’s Give FFA Day event.

Over $1.6 million raised for FFA

Iowa landowners who oppose the carbon pipeline project from Summit Carbon Solutions rallied with renewed energy this week at the state capitol. The renewed energy comes after South Dakota Governor Larry Rhoden signed a law blocking the company from using eminent domain to build its carbon-capture pipelines. Since the South Dakota governor signed the law, Summit has asked the South Dakota Public Utilities Commission to suspend its pipeline permit application. 

Iowa landowners who oppose the carbon pipeline project from Summit Carbon Solutions rallied with renewed energy this week at the state capitol. The renewed energy comes after South Dakota Governor Larry Rhoden signed a law blocking the company from using eminent domain to build its carbon-capture pipelines. Since the South Dakota governor signed the law, Summit has asked the South Dakota Public Utilities Commission to suspend its pipeline permit application.

Iowa landowners rally against eminent domain 

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

Ag markets for the most part continued Wednesday's trading pattern, as wheat markets again led the way lower after a poor round of export data from the USDA Thursday morning. Wheat markets did, however, find some traction in the later hours of the session as the weather for the most part still remains on the bullish side of the fence for hard red growing areas. Corn and soybeans were able to move higher led mostly by corn which benefitted from another solid round of export sales reported Thursday morning. Outside markets were mostly positive with stock indices up but the U.S. dollar strength following the Fed meeting Wednesday has pressured wheat. The Federal Reserve, as expected, decided to leave its target rate steady in the March meeting. The majority of policymakers still see two cuts later in 2025, but the Fed did offer a more uncertain stance on general economic conditions through 2025, expecting a higher level of inflation and a slower rate of growth for the U.S. economy through the year; tariff policy was cited as the leading unknown variable.

The live cattle complex is again trading higher as the market continues to twiddle its fingers, waiting for the cash cattle market to spring into action. Thankfully, boxed beef prices are higher, which continues to lend fundamental support while the market waits to see what the cash cattle complex does. Slaughter disruptions amid blowing snow and hurricane type winds are expected again today. A note was shared earlier Thursday that at least on Eastern Regional, packers will not slaughter today or Friday, which will impact weekly throughput numbers.

The feeder cattle complex also traded higher after the market successfully closed at new all-time highs on Wednesday afternoon. The market has plenty of fundamental support encouraging it to continue to trade higher. However, without full buy-in and support from the live cattle contracts, traders are slowing pulling up the reins on the market's relentless rally.

With a sorry export report, it's not surprising to see the lean hog complex again trading lower. From a solely fundamental sense, it is supportive to see both cash prices and pork cutout values trading higher. However, pork cutout values have been too unreliable to bank on a higher trend at this point.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/20151312/web-closing-markets.mp3">HERE</a> for audio

GRAINS:May corn closed up 7 cents and July corn was up 6 1/4 cents. May soybeans closed up 4 3/4 cents and July soybeans were up 3 3/4 cents. May KC wheat closed down 8 1/4 cents, May Chicago wheat was down 6 1/4 cents, May Minneapolis wheat was down 7 cents.Ag markets for the most part continued Wednesday's trading pattern, as wheat markets again led the way lower after a poor round of export data from the USDA Thursday morning. Wheat markets did, however, find some traction in the later hours of the session as the weather for the most part still remains on the bullish side of the fence for hard red growing areas. Corn and soybeans were able to move higher led mostly by corn which benefitted from another solid round of export sales reported Thursday morning. Outside markets were mostly positive with stock indices up but the U.S. dollar strength following the Fed meeting Wednesday has pressured wheat. The Federal Reserve, as expected, decided to leave its target rate steady in the March meeting. The majority of policymakers still see two cuts later in 2025, but the Fed did offer a more uncertain stance on general economic conditions through 2025, expecting a higher level of inflation and a slower rate of growth for the U.S. economy through the year; tariff policy was cited as the leading unknown variable.LIVESTOCK:The live cattle complex is again trading higher as the market continues to twiddle its fingers, waiting for the cash cattle market to spring into action. Thankfully, boxed beef prices are higher, which continues to lend fundamental support while the market waits to see what the cash cattle complex does. Slaughter disruptions amid blowing snow and hurricane type winds are expected again today. A note was shared earlier Thursday that at least on Eastern Regional, packers will not slaughter today or Friday, which will impact weekly throughput numbers.The feeder cattle complex also traded higher after the market successfully closed at new all-time highs on Wednesday afternoon. The market has plenty of fundamental support encouraging it to continue to trade higher. However, without full buy-in and support from the live cattle contracts, traders are slowing pulling up the reins on the market's relentless rally. With a sorry export report, it's not surprising to see the lean hog complex again trading lower. From a solely fundamental sense, it is supportive to see both cash prices and pork cutout values trading higher. However, pork cutout values have been too unreliable to bank on a higher trend at this point.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/20151312/web-closing-markets.mp3">HERE</a> for audio

Commodity markets daily recap

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

It was yet another quiet session for corn and soybean markets as the latter drifted lower, but held above key long-term support for now. Corn futures were marginally higher on May futures while deferred prices relaxed ahead of new crop data from USDA at the end of the month, which is expected to show an increase in corn acreage for 2025. Meanwhile, wheat futures corrected Wednesday after prices appeared very top heavy late in Tuesday's trade. The move lower was led by hard red Kansas City futures as the spread between HRW and SRW prices relaxed Wednesday after surging higher for eight out of the past 10 sessions. U.S. stocks were higher as investors look forward to the conclusion of the Fed's March meeting Wednesday. The Federal Reserve again held its target rate steady in Wednesday's decision, but it is really Fed Chair Jerome Powell's comments Wednesday afternoon that will be of interest to the market, especially in light of recent growth concerns and semi-cool February inflationary data. The current CME FedWatch tool is calling for June to be the next rate adjustment, signaling a 53% chance currently of a quarter point cut during that month's FOMC meeting.

The live cattle complex was lively as the market is excited to note the $6.02 jump in choice cuts, which has helped traders feel confident about their decision to push the spot June contract above the market's resistance at $201. There still hasn't been any cash cattle trade to speak of, but it's assumed that prices will trade steady if not higher later this week. Asking prices are noted at $205 in the South, but are still not known in the North.

Seeing the live cattle contracts trade higher has sparked even more enthusiasm throughout the feeder cattle complex as its contracts were comfortably trading higher into the closing bell. And with the spring season set to officially begin Thursday, buyer demand in the countryside has been even more aggressive this week than last week, as buyers know that supplies will run thin the closer time gets to turn out season.

The lean hog complex is traded noticeably lower as the market's resistance at $88.00 simply seems to be too much for traders to bear at this point. And yes, pork cutout values were slightly higher this morning, but before traders put much confidence in the market's higher cutout price, they're going to need to see a steady trend in higher cutout prices.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/19135344/web-closing-markets.mp3">HERE</a> for audio

GRAINS:May corn closed up 3 1/4 cents and July corn was up 1 1/4 cents. May soybeans closed down 4 1/2 cents and July soybeans were down 5 cents. May KC wheat closed down 11 1/2 cents, May Chicago wheat was down 1 1/2 cents, May Minneapolis wheat was down 1 3/4 cents.It was yet another quiet session for corn and soybean markets as the latter drifted lower, but held above key long-term support for now. Corn futures were marginally higher on May futures while deferred prices relaxed ahead of new crop data from USDA at the end of the month, which is expected to show an increase in corn acreage for 2025. Meanwhile, wheat futures corrected Wednesday after prices appeared very top heavy late in Tuesday's trade. The move lower was led by hard red Kansas City futures as the spread between HRW and SRW prices relaxed Wednesday after surging higher for eight out of the past 10 sessions. U.S. stocks were higher as investors look forward to the conclusion of the Fed's March meeting Wednesday. The Federal Reserve again held its target rate steady in Wednesday's decision, but it is really Fed Chair Jerome Powell's comments Wednesday afternoon that will be of interest to the market, especially in light of recent growth concerns and semi-cool February inflationary data. The current CME FedWatch tool is calling for June to be the next rate adjustment, signaling a 53% chance currently of a quarter point cut during that month's FOMC meeting.LIVESTOCK:The live cattle complex was lively as the market is excited to note the $6.02 jump in choice cuts, which has helped traders feel confident about their decision to push the spot June contract above the market's resistance at $201. There still hasn't been any cash cattle trade to speak of, but it's assumed that prices will trade steady if not higher later this week. Asking prices are noted at $205 in the South, but are still not known in the North.Seeing the live cattle contracts trade higher has sparked even more enthusiasm throughout the feeder cattle complex as its contracts were comfortably trading higher into the closing bell. And with the spring season set to officially begin Thursday, buyer demand in the countryside has been even more aggressive this week than last week, as buyers know that supplies will run thin the closer time gets to turn out season.The lean hog complex is traded noticeably lower as the market's resistance at $88.00 simply seems to be too much for traders to bear at this point. And yes, pork cutout values were slightly higher this morning, but before traders put much confidence in the market's higher cutout price, they're going to need to see a steady trend in higher cutout prices.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/19135344/web-closing-markets.mp3">HERE</a> for audio

Commodity closing markets recap

Several groups and individual stakeholders celebrated National Agriculture Day this week. It’s set aside to celebrate the farmers, ranchers, and producers who dedicate their lives to feeding, fueling, and clothing the world. “Agriculture isn’t just an industry, but a way of life,” says USDA Ag Secretary Brooke Rollins. “I know that firsthand from growing up in agriculture and being a part of 4H and FFA shaped who I am today.” National Agriculture Day celebrates the fact that, through challenges and triumphs, the men and women in agriculture show up every single day. 

The Agriculture Council of America was formed in 1973 when the first National Agriculture Day program began. The organization is uniquely composed of leaders in the agriculture, food, and fiber communities dedicated to increasing public awareness of the vital role agriculture plays in today’s society. National Ag Day encourages the public to learn more about producing food and fuel.

Several groups and individual stakeholders celebrated National Agriculture Day this week. It’s set aside to celebrate the farmers, ranchers, and producers who dedicate their lives to feeding, fueling, and clothing the world. “Agriculture isn’t just an industry, but a way of life,” says USDA Ag Secretary Brooke Rollins. “I know that firsthand from growing up in agriculture and being a part of 4H and FFA shaped who I am today.” National Agriculture Day celebrates the fact that, through challenges and triumphs, the men and women in agriculture show up every single day. The Agriculture Council of America was formed in 1973 when the first National Agriculture Day program began. The organization is uniquely composed of leaders in the agriculture, food, and fiber communities dedicated to increasing public awareness of the vital role agriculture plays in today’s society. National Ag Day encourages the public to learn more about producing food and fuel.

Stakeholders celebrate National Agriculture Day

On National Ag Day, USDA Secretary Brooke Rollins said the agency is issuing up to $10 billion directly to ag producers through the Emergency Commodity Assistance Program for the 2024 crop year. ECAP will help agricultural producers mitigate the impacts of increased input costs and falling commodity prices. “Producers are facing higher costs and market uncertainty, and the administration is making sure they get the support they need without delay,” Rollins said. “With clear direction from Congress, USDA has prioritized streamlining the process and accelerating these payments ahead of schedule, ensuring farmers have the resources to manage rising expenses and secure financing for next season.” 

Authorized by the American Relief Act of 2025, the payments are based on planted and prevented planted crop acres for eligible commodities for the 2024 crop year. FSA will soon send out pre-filled applications. Find out the eligible commodities and payment rates at <a href="https://www.fsa.usda.gov/">fsa.usda.gov</a>.

On National Ag Day, USDA Secretary Brooke Rollins said the agency is issuing up to $10 billion directly to ag producers through the Emergency Commodity Assistance Program for the 2024 crop year. ECAP will help agricultural producers mitigate the impacts of increased input costs and falling commodity prices. “Producers are facing higher costs and market uncertainty, and the administration is making sure they get the support they need without delay,” Rollins said. “With clear direction from Congress, USDA has prioritized streamlining the process and accelerating these payments ahead of schedule, ensuring farmers have the resources to manage rising expenses and secure financing for next season.” Authorized by the American Relief Act of 2025, the payments are based on planted and prevented planted crop acres for eligible commodities for the 2024 crop year. FSA will soon send out pre-filled applications. Find out the eligible commodities and payment rates at <a href="https://www.fsa.usda.gov/">fsa.usda.gov</a>.

USDA expediting direct help for producers

The Fertilizer Institute&nbsp; praised President Donald Trump for signing an Executive Order that continues his long-standing recognition for the importance of fertilizers to farmers and the overall U.S. agriculture economy. The President’s action ensures that Canadian and Mexican imports of fertilizers meeting USMCA preference status will be subject to no duty while this round of tariffs remains in effect. Additionally, the executive order further establishes that potash imports from Canada and Mexico lacking USMCA preference status will be subject to a reduced import tariff of 10 percent. 

“President Trump has long been supportive of U.S. farmers and rural communities,” said TFI President and CEO Corey Rosenbusch. “As the important spring planting season kicks off on farms around the country, the President’s recognition of the critical nature of fertilizers will ensure growers have access to the vital crop nutrients that make possible bountiful harvests and profitable grower operations.”

The Fertilizer Institute&nbsp; praised President Donald Trump for signing an Executive Order that continues his long-standing recognition for the importance of fertilizers to farmers and the overall U.S. agriculture economy. The President’s action ensures that Canadian and Mexican imports of fertilizers meeting USMCA preference status will be subject to no duty while this round of tariffs remains in effect. Additionally, the executive order further establishes that potash imports from Canada and Mexico lacking USMCA preference status will be subject to a reduced import tariff of 10 percent. “President Trump has long been supportive of U.S. farmers and rural communities,” said TFI President and CEO Corey Rosenbusch. “As the important spring planting season kicks off on farms around the country, the President’s recognition of the critical nature of fertilizers will ensure growers have access to the vital crop nutrients that make possible bountiful harvests and profitable grower operations.”

TFI applauds Trump action on fertilizers

USDA is ending two pandemic-era programs that provided more than $1 billion for schools and food banks to purchase food from local farmers and producers. About $660 million of that went to schools and childcare centers to buy food for meals through the Local Foods for Schools program. A separate program provided money to food banks. USDA said the programs are a legacy of the pandemic and no longer supported the agency’s priorities. A USDA spokesperson said in a statement “The COVID era is over — USDA’s approach to nutrition programs will reflect that reality moving forward.”

Proposed spending cuts to fund Republican’s tax bill include raising the poverty level needed for schools to provide universal free meals without an application. Restricting eligibility for food assistance programs and requiring income verification for free or reduced-price school meals, two proposals for cutting costs, would also likely cut out eligible families from accessing food, the School Nutrition Association said.

USDA is ending two pandemic-era programs that provided more than $1 billion for schools and food banks to purchase food from local farmers and producers. About $660 million of that went to schools and childcare centers to buy food for meals through the Local Foods for Schools program. A separate program provided money to food banks. USDA said the programs are a legacy of the pandemic and no longer supported the agency’s priorities. A USDA spokesperson said in a statement “The COVID era is over — USDA’s approach to nutrition programs will reflect that reality moving forward.”Proposed spending cuts to fund Republican’s tax bill include raising the poverty level needed for schools to provide universal free meals without an application. Restricting eligibility for food assistance programs and requiring income verification for free or reduced-price school meals, two proposals for cutting costs, would also likely cut out eligible families from accessing food, the School Nutrition Association said.

USDA cancels local foods for schools program 

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

U.S. row-crop markets for the most part kept with Monday's theme in a quiet two-sided trade for corn and soybeans Tuesday. Wheat markets were again firmer early in Tuesday's session, but that strength would fade rapidly through the last hour of trade after May Kansas City prices briefly achieved a 75% retracement of losses from the high close on Feb. 18. Meanwhile, U.S. stock indices are working lower following a two-day reprieve in the midst of one of the worst two-month stretches for the Dow Jones Industrial Average in recent memory. Tariff news has turned very quiet at least in comparison to the barrage of headlines over the previous three weeks; but a cloud of uneasiness remains over the U.S. economy. The U.S. Dollar Index is also lower Tuesday, again challenging the lowest level since mid-October.

Live cattle complex traders seem to be fearing the market's resistance at $201, which was established late in January. Also, without knowing how cash cattle prices are going to fair this week, the market seems to be merely chopping sideways. The cash cattle market remains silent with no bids having surfaced yet and it's likely again this week that trade will be delayed until Thursday, if not, potentially even Friday. Asking prices are noted in the South at $205 plus, but are still not established in the North.

After reaching yet again new contract highs on Monday, the feeder cattle complex is following the lead of the live cattle market as it's also trading slightly lower. Today's lower/holding tone seems to be stemming from the fact that traders want to ensure that fed cash cattle prices are indeed going to trade higher before they encourage the contracts to trade higher. We can't lose sight of the fact that the contracts are either trading at contract highs or steady with the highs made in January. Meanwhile, feeder cattle demand remains incredible in the countryside as buyers know that spring is nearing and that it's going to be turn out time in just a matter of weeks.

The lean hog complex is also traded lower into Tuesday's close as the market stalemates, seeming unable to muster up enough support to encourage traders to take on the market's resistance at $88.00 in the spot April contract. Meanwhile, it's also not helping that pork cutout values were down slightly, mainly again because of the decline on the belly that's weighing heavily on the carcass price.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/18151536/web-closing-markets.mp3">HERE</a> for audio

GRAINS:May corn closed down 2 1/4 cents and July corn was down 2 cents. May soybeans closed down 2 3/4 cents and July soybeans were down 2 3/4 cents. May KC wheat closed up 3/4 cents, May Chicago wheat was down 3 1/2 cents, May Minneapolis wheat was down 1 cents.U.S. row-crop markets for the most part kept with Monday's theme in a quiet two-sided trade for corn and soybeans Tuesday. Wheat markets were again firmer early in Tuesday's session, but that strength would fade rapidly through the last hour of trade after May Kansas City prices briefly achieved a 75% retracement of losses from the high close on Feb. 18. Meanwhile, U.S. stock indices are working lower following a two-day reprieve in the midst of one of the worst two-month stretches for the Dow Jones Industrial Average in recent memory. Tariff news has turned very quiet at least in comparison to the barrage of headlines over the previous three weeks; but a cloud of uneasiness remains over the U.S. economy. The U.S. Dollar Index is also lower Tuesday, again challenging the lowest level since mid-October.LIVESTOCK:Live cattle complex traders seem to be fearing the market's resistance at $201, which was established late in January. Also, without knowing how cash cattle prices are going to fair this week, the market seems to be merely chopping sideways. The cash cattle market remains silent with no bids having surfaced yet and it's likely again this week that trade will be delayed until Thursday, if not, potentially even Friday. Asking prices are noted in the South at $205 plus, but are still not established in the North.After reaching yet again new contract highs on Monday, the feeder cattle complex is following the lead of the live cattle market as it's also trading slightly lower. Today's lower/holding tone seems to be stemming from the fact that traders want to ensure that fed cash cattle prices are indeed going to trade higher before they encourage the contracts to trade higher. We can't lose sight of the fact that the contracts are either trading at contract highs or steady with the highs made in January. Meanwhile, feeder cattle demand remains incredible in the countryside as buyers know that spring is nearing and that it's going to be turn out time in just a matter of weeks. The lean hog complex is also traded lower into Tuesday's close as the market stalemates, seeming unable to muster up enough support to encourage traders to take on the market's resistance at $88.00 in the spot April contract. Meanwhile, it's also not helping that pork cutout values were down slightly, mainly again because of the decline on the belly that's weighing heavily on the carcass price.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/18151536/web-closing-markets.mp3">HERE</a> for audio

As our world evolves and modernizes, there is one timeless cornerstone that sustains it all: agriculture. National Ag Week stands as a tribute to the invaluable contributions of farmers and all those dedicated to working the land that feeds and sustains us.

National Ag Week, which runs thru march 22nd, provides an opportunity to celebrate the economic impact of the agricultural sector, which extends far beyond the fields and barns. From rural towns to bustling cities, the ripple effects of agriculture are felt in job creation, infrastructure development, and market diversification. 

As our world evolves and modernizes, there is one timeless cornerstone that sustains it all: agriculture. National Ag Week stands as a tribute to the invaluable contributions of farmers and all those dedicated to working the land that feeds and sustains us.National Ag Week, which runs thru march 22nd, provides an opportunity to celebrate the economic impact of the agricultural sector, which extends far beyond the fields and barns. From rural towns to bustling cities, the ripple effects of agriculture are felt in job creation, infrastructure development, and market diversification.

National Ag Week March 16-22

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

It was an overall quiet start to the week as corn and soybean markets again traded mostly sideways, failing to hold early gains. Currently, wheat prices are seemingly the only one of the big three U.S. row crops which have a sense of conviction behind the trade, as prices jumped higher again Monday and now have reclaimed the majority of losses from the late February collapse. Outside market news was also uncharacteristically quiet to begin the new week, with little trade updates other than the Trump administration reaffirming April 2 as the date for further tariff action to be taken. For now, lukewarm retail sales data Monday has U.S. stock indices cautiously higher as trade war fears -- given what we currently know -- may be effectively priced in, at least until the next deadline grows nearer then traders will reevaluate. The U.S. Dollar Index was also weaker Monday, dropping to near-term support, which aided wheat in its strong move higher.

The live cattle complex is yet again inching higher and is being fueled by last week's strong market performance. Between stronger boxed beef prices, higher cash cattle sales and full buy in from traders -- the market had all the support it could ever hope for. But the market won't be without challenges this week as the spot June contract is nearing the market's resistance at $201. Later this week, the monthly Cattle on Feed report is set to be released, which is also a guessing game as to how the numbers will differ from pre-report estimates.

The feeder cattle complex&nbsp; again aggressively rallied into the day's close as the market's momentum is keeping the bullish move fueled into this new week. As long as the live cattle complex continues to lend ample support, it's likely that the feeder cattle market will keep inching higher and higher as there's more than enough support encouraging the move.

The lean hog complex gapped higher this morning as traders are hoping that strong demand will be a theme for the market this week and help turn the market's direction fully higher. It's extremely helpful that the carcass price is up $3.55, which is mainly being pushed by the belly's $16.22 jump and the loin's $5.53 jump.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/17150046/web-closing-markets.mp3">HERE</a> for audio.

GRAINS:May corn closed up 2 1/2 cents and July corn was up 2 1/2 cents. May soybeans closed down 1/2 cents and July soybeans were down 3/4 cents. May KC wheat closed up 19 1/2 cents, May Chicago wheat was up 11 1/2 cents, May Minneapolis wheat was up 13 1/4 cents.It was an overall quiet start to the week as corn and soybean markets again traded mostly sideways, failing to hold early gains. Currently, wheat prices are seemingly the only one of the big three U.S. row crops which have a sense of conviction behind the trade, as prices jumped higher again Monday and now have reclaimed the majority of losses from the late February collapse. Outside market news was also uncharacteristically quiet to begin the new week, with little trade updates other than the Trump administration reaffirming April 2 as the date for further tariff action to be taken. For now, lukewarm retail sales data Monday has U.S. stock indices cautiously higher as trade war fears -- given what we currently know -- may be effectively priced in, at least until the next deadline grows nearer then traders will reevaluate. The U.S. Dollar Index was also weaker Monday, dropping to near-term support, which aided wheat in its strong move higher.LIVESTOCK:The live cattle complex is yet again inching higher and is being fueled by last week's strong market performance. Between stronger boxed beef prices, higher cash cattle sales and full buy in from traders -- the market had all the support it could ever hope for. But the market won't be without challenges this week as the spot June contract is nearing the market's resistance at $201. Later this week, the monthly Cattle on Feed report is set to be released, which is also a guessing game as to how the numbers will differ from pre-report estimates.The feeder cattle complex&nbsp; again aggressively rallied into the day's close as the market's momentum is keeping the bullish move fueled into this new week. As long as the live cattle complex continues to lend ample support, it's likely that the feeder cattle market will keep inching higher and higher as there's more than enough support encouraging the move.The lean hog complex gapped higher this morning as traders are hoping that strong demand will be a theme for the market this week and help turn the market's direction fully higher. It's extremely helpful that the carcass price is up $3.55, which is mainly being pushed by the belly's $16.22 jump and the loin's $5.53 jump.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/17150046/web-closing-markets.mp3">HERE</a> for audio.

Commodity closing markets for Monday

Members of the agriculture community, producers and agri-businesses, were front and center at the 21st annual Farm City Breakfast Friday morning at Word of Life Church in St. Joseph. The event presented by the St. Joseph Chamber of Commerce and LifeLine Foods drew hundreds of attendees bright and early on Friday morning.

The program included the inaugural presentation of the Farm Family of the Year award being presented to the Casey and Ashley Spencer family, both of whom are fourth-generation farmers in DeKalb, Missouri. There are just under a total of 90,000 farms in the state of Missouri, that ranks second in the Nation, with 30 of those farms being classified as "founding farms" meaning they have 200 years in the same family.

The Keynote speaker for the event was Kevin Wanzer a unique motivational speaker that uses comedy to get his message across, and there were some real laughs to get everyone going for their day. Proceeds of this event go toward Agriculture Future of America Scholarships for area students pursuing agricultural-related degrees. This past year, AFA awarded $20,000 in scholarships to area students. St. Joseph is AFA's largest community scholarship program.

Members of the agriculture community, producers and agri-businesses, were front and center at the 21st annual Farm City Breakfast Friday morning at Word of Life Church in St. Joseph. The event presented by the St. Joseph Chamber of Commerce and LifeLine Foods drew hundreds of attendees bright and early on Friday morning.The program included the inaugural presentation of the Farm Family of the Year award being presented to the Casey and Ashley Spencer family, both of whom are fourth-generation farmers in DeKalb, Missouri. There are just under a total of 90,000 farms in the state of Missouri, that ranks second in the Nation, with 30 of those farms being classified as "founding farms" meaning they have 200 years in the same family.The Keynote speaker for the event was Kevin Wanzer a unique motivational speaker that uses comedy to get his message across, and there were some real laughs to get everyone going for their day. Proceeds of this event go toward Agriculture Future of America Scholarships for area students pursuing agricultural-related degrees. This past year, AFA awarded $20,000 in scholarships to area students. St. Joseph is AFA's largest community scholarship program.

Inaugural Farm Family of the Year award presented at 21st annual farm city breakfast

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

May corn closed down 10 3/4 cents and July corn was down 8 1/4 cents. May soybeans closed down 9 cents and July soybeans were down 8 3/4 cents. May KC wheat closed up 21 1/4 cents, May Chicago wheat was up 5 3/4 cents and May Minneapolis wheat was up 9 cents.

Corn and wheat markets traded lower Friday, the latter posting a discouraging reversal of nearly a dime off daily highs in Kansas City futures. Meanwhile, soybean markets held onto marginal gains despite outside pressure in a display of resiliency just above long-term support. Outside market influence to close the week was mostly positive, as U.S. stock indices finished a rough week on a strong note after it was announced that the U.S. government will likely avoid a shutdown this month. Meanwhile, consumer confidence reading Friday morning was the lowest since late 2022. As a result, gold futures surged, hitting $3,000 per troy ounce for the first time ever. The U.S. dollar was again lower but overall has leveled off this week following last week's dive.

Although traders are still waiting to see how this week's cash cattle trade is going to pan out, the live cattle contracts are traded modestly higher as bullish undertones continue to be the theme of its market. Asking prices this week were noted in the South at $202 to $204 and in the North at $325 plus.

The feeder cattle complex continued to trade higher as the market is well supported by the live cattle complex's higher front and by continued support in strong feeder cattle demand in the countryside. So long as the live cattle complex continues to trade higher and fed cash cattle prices trade anywhere from steady to somewhat higher, it's likely the feeder cattle complex will be able to keep its momentum.

The lean hog complex traded mixed as the nearby contracts were mildly higher thanks to the uptick in pork cutout values, but the deferred contracts remain leery of being too supportive and continue to trade lower. It's positive to note that this morning on the pork cutout report every single cut printed higher, which is a good sign of robust consumer demand.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/14142356/web-closing-markets.mp3">HERE</a> for audio

GRAINS:May corn closed down 6 3/4 cents and July corn was down 4 3/4 cents. May soybeans closed up 5 1/4 cents and July soybeans were up 5 cents. May KC wheat closed down 1 1/2 cents, May Chicago wheat was down 5 1/2 cents, May Minneapolis wheat was down 2 cents.For the week:May corn closed down 10 3/4 cents and July corn was down 8 1/4 cents. May soybeans closed down 9 cents and July soybeans were down 8 3/4 cents. May KC wheat closed up 21 1/4 cents, May Chicago wheat was up 5 3/4 cents and May Minneapolis wheat was up 9 cents.Corn and wheat markets traded lower Friday, the latter posting a discouraging reversal of nearly a dime off daily highs in Kansas City futures. Meanwhile, soybean markets held onto marginal gains despite outside pressure in a display of resiliency just above long-term support. Outside market influence to close the week was mostly positive, as U.S. stock indices finished a rough week on a strong note after it was announced that the U.S. government will likely avoid a shutdown this month. Meanwhile, consumer confidence reading Friday morning was the lowest since late 2022. As a result, gold futures surged, hitting $3,000 per troy ounce for the first time ever. The U.S. dollar was again lower but overall has leveled off this week following last week's dive.LIVESTOCK:Although traders are still waiting to see how this week's cash cattle trade is going to pan out, the live cattle contracts are traded modestly higher as bullish undertones continue to be the theme of its market. Asking prices this week were noted in the South at $202 to $204 and in the North at $325 plus. The feeder cattle complex continued to trade higher as the market is well supported by the live cattle complex's higher front and by continued support in strong feeder cattle demand in the countryside. So long as the live cattle complex continues to trade higher and fed cash cattle prices trade anywhere from steady to somewhat higher, it's likely the feeder cattle complex will be able to keep its momentum.The lean hog complex traded mixed as the nearby contracts were mildly higher thanks to the uptick in pork cutout values, but the deferred contracts remain leery of being too supportive and continue to trade lower. It's positive to note that this morning on the pork cutout report every single cut printed higher, which is a good sign of robust consumer demand.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/14142356/web-closing-markets.mp3">HERE</a> for audio

The egg industry has been watched closely as rising egg prices and shortages in retail stores across the U.S. have drawn negative attention to the industry. Feedstuffs says the supply has gotten short enough that some stores are limiting how many packages of eggs customers can buy at one time, while restaurants are adding extra charges to diners who order items with eggs. Emily Metz, president and CEO of the American Egg Board, says the disruption in supply and rising prices are due to the continued impact of bird flu on the nation’s poultry flocks. 

The egg industry has been watched closely as rising egg prices and shortages in retail stores across the U.S. have drawn negative attention to the industry. Feedstuffs says the supply has gotten short enough that some stores are limiting how many packages of eggs customers can buy at one time, while restaurants are adding extra charges to diners who order items with eggs. Emily Metz, president and CEO of the American Egg Board, says the disruption in supply and rising prices are due to the continued impact of bird flu on the nation’s poultry flocks.

Egg board CEO talks about high egg prices

This year's ARC/PLC decision is due a month later than usual. The farm safety net program choice doesn't need to be made until April 15. For the bulk of the Corn Belt, ag economist Gary Schnitkey says PLC is likely to pay less for corn, soybeans, and wheat this season than ARC County.&nbsp; “Obviously, we don't know all the prices and yields that will happen in 2025. If we have extremely low prices, PLC will pay more, but that's a pretty remote case yet,” Schnitkey said.

So, the Farmdoc team at the University of Illinois leans toward taking ARC County rather than PLC for all three crops: corn, soybeans, and wheat. Unlike federal crop insurance, which requires a premium to be paid for the coverage level, the federal farm safety net programs are free of charge.

This year's ARC/PLC decision is due a month later than usual. The farm safety net program choice doesn't need to be made until April 15. For the bulk of the Corn Belt, ag economist Gary Schnitkey says PLC is likely to pay less for corn, soybeans, and wheat this season than ARC County.&nbsp; “Obviously, we don't know all the prices and yields that will happen in 2025. If we have extremely low prices, PLC will pay more, but that's a pretty remote case yet,” Schnitkey said.So, the Farmdoc team at the University of Illinois leans toward taking ARC County rather than PLC for all three crops: corn, soybeans, and wheat. Unlike federal crop insurance, which requires a premium to be paid for the coverage level, the federal farm safety net programs are free of charge.

ARC or PLC decision deadline moved to April 15th

May corn closed up 4 1/2 cents and July corn was up 4 3/4 cents. May soybeans closed up 10 1/4 cents and July soybeans were up 9 1/2 cents. May KC wheat closed up 14 1/2 cents, May Chicago wheat was up 8 1/2 cents, May Minneapolis wheat was up 9 1/4 cents.

Row crops reversed from a sluggish Wednesday to trade higher Thursday as corn, soybeans, and wheat have all benefitted from bargain hunting amongst traders as long-term support was challenged over the middle of the week. Brazilian government crop estimates that remain below USDA estimates along with a solid round of weekly export data provided a spark to markets Thursday. Outside market influence for Thursday was mixed, with equities again struggling amid ongoing trade war countermeasures. Meanwhile, the U.S. dollar is stabilizing following a drastic weeklong drop off. Gold futures have surged to yet another all-time high Thursday, as investors seek reprieve from the volatile and uncertain marketplace.

It was another good day for the live cattle complex as the market continues to grind higher yet again, at least the nearby contracts. It continues to keep bullish tones alive and well throughout the market. The fact that choice cuts are higher again this morning and feedlot managers seem determined to push cash prices higher this week as they patiently wait for packer demand to improve without growing anxious.

The feeder cattle complex continued to push its contracts higher and higher, which seems to signal robust buying from traders as the market's direction is undoubtedly higher due to the vast majority of the nearby contracts reaching new contract highs again today, but al contracts ended the day lower after a flurry of late session sell-offs.

Yes, morning pork cutout values may be higher, but the day's export report was rather disappointing, which seems to be the reason for the lean hog complex sharp downturn. Although it's positive to see pork cutout values higher, the carcass price is skewed by the belly's $16.53 jump.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/13141946/web-closing-markets.mp3">HERE</a> for audio

GRAINS:May corn closed up 4 1/2 cents and July corn was up 4 3/4 cents. May soybeans closed up 10 1/4 cents and July soybeans were up 9 1/2 cents. May KC wheat closed up 14 1/2 cents, May Chicago wheat was up 8 1/2 cents, May Minneapolis wheat was up 9 1/4 cents.Row crops reversed from a sluggish Wednesday to trade higher Thursday as corn, soybeans, and wheat have all benefitted from bargain hunting amongst traders as long-term support was challenged over the middle of the week. Brazilian government crop estimates that remain below USDA estimates along with a solid round of weekly export data provided a spark to markets Thursday. Outside market influence for Thursday was mixed, with equities again struggling amid ongoing trade war countermeasures. Meanwhile, the U.S. dollar is stabilizing following a drastic weeklong drop off. Gold futures have surged to yet another all-time high Thursday, as investors seek reprieve from the volatile and uncertain marketplace.LIVESTOCK:It was another good day for the live cattle complex as the market continues to grind higher yet again, at least the nearby contracts. It continues to keep bullish tones alive and well throughout the market. The fact that choice cuts are higher again this morning and feedlot managers seem determined to push cash prices higher this week as they patiently wait for packer demand to improve without growing anxious.The feeder cattle complex continued to push its contracts higher and higher, which seems to signal robust buying from traders as the market's direction is undoubtedly higher due to the vast majority of the nearby contracts reaching new contract highs again today, but al contracts ended the day lower after a flurry of late session sell-offs.Yes, morning pork cutout values may be higher, but the day's export report was rather disappointing, which seems to be the reason for the lean hog complex sharp downturn. Although it's positive to see pork cutout values higher, the carcass price is skewed by the belly's $16.53 jump.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/13141946/web-closing-markets.mp3">HERE</a> for audio

Commodity closing markets

Industry experts have been predicting farmers may make a shift to planting more corn acres this spring due to tighter supplies and cut back on soybeans. However, recent reports say that President Donald Trump’s tariffs may mean America’s farmers might not make that shift after all. Bloomberg says levies on some products from Canada, Mexico, and China have shifted a key market indicator in favor of soybeans. 

Industry experts have been predicting farmers may make a shift to planting more corn acres this spring due to tighter supplies and cut back on soybeans. However, recent reports say that President Donald Trump’s tariffs may mean America’s farmers might not make that shift after all. Bloomberg says levies on some products from Canada, Mexico, and China have shifted a key market indicator in favor of soybeans.

Tariffs may threaten shift to more corn acres 

New data from the Association of Equipment Manufacturers says U.S. sales of Ag tractors and combines continued to decline in February 2025, in contrast to last year. U.S. sales of agricultural tractors declined 17.7 percent in February, while U.S. sales of combines fell by 48 percent. “While the recent decline in agricultural tractor and combine sales reflect current market challenges, including global trade concerns and tariffs, we continue to remain optimistic about the long-term future of agricultural equipment,” says Curt Blades of AEM. “The resilience and adaptability of our industry have been proven time and time again.” 

Four-wheel drive tractors took the biggest drop, falling 41 percent last month compared to February 2024. In Canada, four-wheel drive tractor sales rose 23.7 percent from February 2024, while self-propelled combine sales dropped 32 percent during the same time. Blades added,  “We are confident that through innovation and collaboration, equipment manufacturers can navigate these challenges.” 

New data from the Association of Equipment Manufacturers says U.S. sales of Ag tractors and combines continued to decline in February 2025, in contrast to last year. U.S. sales of agricultural tractors declined 17.7 percent in February, while U.S. sales of combines fell by 48 percent. “While the recent decline in agricultural tractor and combine sales reflect current market challenges, including global trade concerns and tariffs, we continue to remain optimistic about the long-term future of agricultural equipment,” says Curt Blades of AEM. “The resilience and adaptability of our industry have been proven time and time again.” Four-wheel drive tractors took the biggest drop, falling 41 percent last month compared to February 2024. In Canada, four-wheel drive tractor sales rose 23.7 percent from February 2024, while self-propelled combine sales dropped 32 percent during the same time. Blades added, “We are confident that through innovation and collaboration, equipment manufacturers can navigate these challenges.”

Sales of tractors and combines decline in February

May corn closed down 9 1/2 cents and July corn was down 9 1/2 cents. May soybeans closed down 10 3/4 cents and July soybeans were down 10 cents. May KC wheat closed up 1 cents, May Chicago wheat was down 2 3/4 cents, May Minneapolis wheat was down 3 cents.

USDA reports can have a tendency to be what the viewer makes them, meaning if one looks hard enough the bearish trader can find bearish aspects and the bullish trader can find bullish aspects in line with their own market bias. It is then the market's job to sort out the tug of war between the two sides. Tuesday's WASDE was perhaps no better example of this, as despite fairly benign estimates from the USDA which didn't really offer any new insights to the market, corn and soy futures have plunged to double-digit losses since the release. 

It sure seems now that bullish traders who already had their confidence shaken by the late February selloff, were needing much more obviously bullish adjustments from the USDA to continue their buying spree at least in the short term. The bottom line is that the fundamental outlook for U.S. row crops is pretty much the same today as it was Tuesday morning, with the exception of perhaps wheat which did receive a more bearish forecast for old crop. It will be interesting to with all three commodities nearing long-term support points, if traders choose to shrug off Tuesday's report and search for bargain buying opportunities.

Upon seeing the equity markets trading higher and the continued support of stronger boxed beef prices, the live cattle complex is back in action trading higher into Wednesday's close. The timing of the market's higher climb is ideal for the cash cattle complex too as some early bids have surfaced in the South at $200, but feedlot managers aren't impressed with the packer's attempt to get cattle bought at those levels. With asking prices firm in the South at $202 plus, the board now trading higher and boxed beef prices holding strong, feedlot managers are likely going to hold out until later in the week in hopes of stronger cash prices.

The market's resistance at $278.00 didn't seem to stand a chance at holding the feeder cattle complex back Wednesday as the contracts traded $2.00 to $3.00 higher. As always when the market breaks through a critical resistance plane, it will be important to see if traders keep the market's momentum, and if they can, what they elect to do on Thursday. But so long as the market's fundamentals remain supportive, traders may be able to maintain their bullishness.

The lean hog complex traded mixed as traders aren't pleased with the fact that morning pork cutout values were lower. As the market chops merely sideways (seeming to wait for demand to perk back up) traders are pressuring the spot April contract while they let the rest of the nearby contracts trading just mildly higher.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/12155510/web-closing-markets.mp3">HERE</a> for audio

GRAINS:May corn closed down 9 1/2 cents and July corn was down 9 1/2 cents. May soybeans closed down 10 3/4 cents and July soybeans were down 10 cents. May KC wheat closed up 1 cents, May Chicago wheat was down 2 3/4 cents, May Minneapolis wheat was down 3 cents.USDA reports can have a tendency to be what the viewer makes them, meaning if one looks hard enough the bearish trader can find bearish aspects and the bullish trader can find bullish aspects in line with their own market bias. It is then the market's job to sort out the tug of war between the two sides. Tuesday's WASDE was perhaps no better example of this, as despite fairly benign estimates from the USDA which didn't really offer any new insights to the market, corn and soy futures have plunged to double-digit losses since the release. It sure seems now that bullish traders who already had their confidence shaken by the late February selloff, were needing much more obviously bullish adjustments from the USDA to continue their buying spree at least in the short term. The bottom line is that the fundamental outlook for U.S. row crops is pretty much the same today as it was Tuesday morning, with the exception of perhaps wheat which did receive a more bearish forecast for old crop. It will be interesting to with all three commodities nearing long-term support points, if traders choose to shrug off Tuesday's report and search for bargain buying opportunities.LIVESTOCK:Upon seeing the equity markets trading higher and the continued support of stronger boxed beef prices, the live cattle complex is back in action trading higher into Wednesday's close. The timing of the market's higher climb is ideal for the cash cattle complex too as some early bids have surfaced in the South at $200, but feedlot managers aren't impressed with the packer's attempt to get cattle bought at those levels. With asking prices firm in the South at $202 plus, the board now trading higher and boxed beef prices holding strong, feedlot managers are likely going to hold out until later in the week in hopes of stronger cash prices.The market's resistance at $278.00 didn't seem to stand a chance at holding the feeder cattle complex back Wednesday as the contracts traded $2.00 to $3.00 higher. As always when the market breaks through a critical resistance plane, it will be important to see if traders keep the market's momentum, and if they can, what they elect to do on Thursday. But so long as the market's fundamentals remain supportive, traders may be able to maintain their bullishness.The lean hog complex traded mixed as traders aren't pleased with the fact that morning pork cutout values were lower. As the market chops merely sideways (seeming to wait for demand to perk back up) traders are pressuring the spot April contract while they let the rest of the nearby contracts trading just mildly higher.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/12155510/web-closing-markets.mp3">HERE</a> for audio

Grocery stores and gas pumps are important inflation indicators. While inflationary concerns have been persistent in recent years, the back and forth regarding tariffs on Canada and Mexico, as well as the tariffs on Chinese goods, have prompted additional concerns about prices. Results from the Gardner Food and Agricultural Policy Survey find most consumers across both political parties expect tariffs to increase the prices they pay for food. 

Grocery stores and gas pumps are important inflation indicators. While inflationary concerns have been persistent in recent years, the back and forth regarding tariffs on Canada and Mexico, as well as the tariffs on Chinese goods, have prompted additional concerns about prices. Results from the Gardner Food and Agricultural Policy Survey find most consumers across both political parties expect tariffs to increase the prices they pay for food.

Consumers worry about tariffs and food prices

May corn closed down 1 3/4 cents per bushel at $4.70 1/4 and July corn was down 1 1/2 cents at $4.77 0/1. May soybeans closed down 2 3/4 cents at $10.11 1/4 and July soybeans were down 2 3/4 cents at $10.26 1/2. May KC wheat closed down 6 1/2 cents at $5.72 0/1, May Chicago wheat was down 5 3/4 cents at $5.57 3/4 and May Minneapolis wheat was down 7 1/4 cents at $5.97 1/4.

Ahead of the March WASDE report, U.S. ag futures markets were a bit stronger on corn and soybeans and weaker on wheat. Following what turned out to be a big yawner from USDA, the markets continued that way in low volume trade until late session when corn and beans traded in the red. The only significant change was in U.S. wheat where ending stocks rose by 25 mb. On the world front there were no changes to either Brazil or Argentine corn or soy crops. The market focus is and will continue to be on what appears to be an escalating trade war between Canada and the U.S. Also weighing on markets is the ongoing meltdown in equities with markets down hard again Tuesday.

The live cattle complex may be traded lower and Tuesday morning's WASDE report was lukewarm in regards to support, but boxed beef prices are just what the market wants to see. With choice cuts up over $4.00 higher and select pushing prices over $2.00 higher -- it's possible that packers could be more aggressive in this week's cash market if demand remains strong. Still no cash cattle trade has developed yet, but asking prices are noted in the countryside at $202 plus. They're still unestablished in the North.

Although, the live cattle complex traded lower, the feeder cattle complex continued to trade modestly higher despite the fact that the contracts are trading at resistance levels. It is interesting to note that the furthest deferred contracts are trading with the biggest day-over-day gains, with some of the deferred months trading more than $1.00 higher. For the spot April contract to etch into new technical territory (meaning it confidently breaks through the resistance threshold at $278.00, it finished under at $277.70) the market will need the help of the live cattle/fed cattle market to sustain prices above that price point.

Although midday pork cutout values were higher, the lean hog complex faltered in the last hour of trade, as the WASDE report wasn't overly fruitful. Packers were fairly aggressive this morning in the cash market, and if pork cutout values close higher, there's a chance that the market could turn higher on Wednesday if fundamental support remains supportive.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/11143306/web-closing-markets.mp3">HERE</a> for audio

GRAINS:May corn closed down 1 3/4 cents per bushel at $4.70 1/4 and July corn was down 1 1/2 cents at $4.77 0/1. May soybeans closed down 2 3/4 cents at $10.11 1/4 and July soybeans were down 2 3/4 cents at $10.26 1/2. May KC wheat closed down 6 1/2 cents at $5.72 0/1, May Chicago wheat was down 5 3/4 cents at $5.57 3/4 and May Minneapolis wheat was down 7 1/4 cents at $5.97 1/4.Ahead of the March WASDE report, U.S. ag futures markets were a bit stronger on corn and soybeans and weaker on wheat. Following what turned out to be a big yawner from USDA, the markets continued that way in low volume trade until late session when corn and beans traded in the red. The only significant change was in U.S. wheat where ending stocks rose by 25 mb. On the world front there were no changes to either Brazil or Argentine corn or soy crops. The market focus is and will continue to be on what appears to be an escalating trade war between Canada and the U.S. Also weighing on markets is the ongoing meltdown in equities with markets down hard again Tuesday.LIVESTOCK:The live cattle complex may be traded lower and Tuesday morning's WASDE report was lukewarm in regards to support, but boxed beef prices are just what the market wants to see. With choice cuts up over $4.00 higher and select pushing prices over $2.00 higher -- it's possible that packers could be more aggressive in this week's cash market if demand remains strong. Still no cash cattle trade has developed yet, but asking prices are noted in the countryside at $202 plus. They're still unestablished in the North.Although, the live cattle complex traded lower, the feeder cattle complex continued to trade modestly higher despite the fact that the contracts are trading at resistance levels. It is interesting to note that the furthest deferred contracts are trading with the biggest day-over-day gains, with some of the deferred months trading more than $1.00 higher. For the spot April contract to etch into new technical territory (meaning it confidently breaks through the resistance threshold at $278.00, it finished under at $277.70) the market will need the help of the live cattle/fed cattle market to sustain prices above that price point.Although midday pork cutout values were higher, the lean hog complex faltered in the last hour of trade, as the WASDE report wasn't overly fruitful. Packers were fairly aggressive this morning in the cash market, and if pork cutout values close higher, there's a chance that the market could turn higher on Wednesday if fundamental support remains supportive.Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/11143306/web-closing-markets.mp3">HERE</a> for audio

Commodity closing markets Tuesday

South Dakota’s governor has signed a bill prohibiting use of eminent domain for pipelines carrying carbon dioxide, throwing a wrench into Summit Carbon Solutions' project to build a pipeline carrying liquefied carbon dioxide to a sequestration site in North Dakota. 

South Dakota’s governor has signed a bill prohibiting use of eminent domain for pipelines carrying carbon dioxide, throwing a wrench into Summit Carbon Solutions' project to build a pipeline carrying liquefied carbon dioxide to a sequestration site in North Dakota.

New law prohibits use of eminent domain for CO2 pipelines

Bacon has experienced modest growth across the last year fueled mainly by an increase in retail prices. Over the past year, the bacon category has seen solid growth, with units up more than 2% and sales rising over 2.7%, according to Circana. That’s faster than the overall edible sales growth of under 1% in units and 1.9% in dollars. It shows bacon dollar and unit sales are positive across the category, with the natural channels leading category growth. At the retail level, the banners that are embracing the “better for you” trends and including more of these SKUs in their bacon set have realized higher lift in their sets vs. those who have not. 

Bacon has experienced modest growth across the last year fueled mainly by an increase in retail prices. Over the past year, the bacon category has seen solid growth, with units up more than 2% and sales rising over 2.7%, according to Circana. That’s faster than the overall edible sales growth of under 1% in units and 1.9% in dollars. It shows bacon dollar and unit sales are positive across the category, with the natural channels leading category growth. At the retail level, the banners that are embracing the “better for you” trends and including more of these SKUs in their bacon set have realized higher lift in their sets vs. those who have not.

Bacon sales up over past 12 months

May corn closed up 2 3/4 cents per bushel at $4.72 and July corn was up 2 3/4 cents at $4.79 1/2. May soybeans closed down 11 cents at $10.14 0/1 and July soybeans were down 10 1/2 cents at $10.28 1/4. May KC wheat closed up 13 3/4 cents at $5.79 1/2, May Chicago wheat was up 11 1/4 cents at $5.63 1/2 and May Minneapolis wheat was up 10 3/4 cents at $6.04 1/2.

While the corn market was mostly mixed to firm on the front end, soybeans and bean oil felt pressure from the plunge in canola futures after China decided to put a 100% tariff on Canadian canola oil and meal. The wheat market showed independent strength on the sixth consecutive lower close on the U.S. Dollar Index and dryness adversely impacting both U.S. Plains wheat and that of southern Russia. Ahead of Tuesday's March WASDE, few meaningful changes are expected in the U.S. balance sheet while all eyes will be on revisions to South American corn and soy production estimates. Pressure came also from outside financial markets as equities continued the downdraft on talk of recession.

It's exciting to see not only the live cattle contracts trading higher at Monday's start again, and maintaining through the whole session, but to see boxed beef prices higher at the beginning of the week. Traders were elated to see cash cattle prices venture somewhat higher last week, which is what really pushed the futures complex to jolt higher last Friday. And as long as fundamental support can remain plentiful in the market again this week -- continuing to trade higher shouldn't be an issue for the live cattle complex. If boxed beef prices show good interest all week, there's a chance that packers could be active in this week's market again. However, if demand is soft and prices fall flat, then packers won't likely show much interest in the cash market.

Continuing to mirror the live cattle market's trend, the feeder cattle contracts also traded higher heading into Monday's close. It will be interesting to see how traders handle the feeder cattle complex this week as the market is nearing resistance levels. If fundamental support is adequate on the live cattle market side of things (meaning boxed beef demand and strong fed cash cattle sales) then there's a chance that the market inches higher and pressures all time high price points, but without certainty from the live cattle complex, the market will face some headwinds.

Thankfully, the market's stronger close last week has added a little technical support early this week, which allowed the lean hog contracts to enjoy stronger prices ahead of Monday's close. And helping the market's cause as well is the fact that midday pork cutout values were up $1.81, and the carcass price is being driven evenly from the cuts.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/10143309/web-closing-markets.mp3">HERE</a> for audio.

GRAINS:May corn closed up 2 3/4 cents per bushel at $4.72 and July corn was up 2 3/4 cents at $4.79 1/2. May soybeans closed down 11 cents at $10.14 0/1 and July soybeans were down 10 1/2 cents at $10.28 1/4. May KC wheat closed up 13 3/4 cents at $5.79 1/2, May Chicago wheat was up 11 1/4 cents at $5.63 1/2 and May Minneapolis wheat was up 10 3/4 cents at $6.04 1/2.While the corn market was mostly mixed to firm on the front end, soybeans and bean oil felt pressure from the plunge in canola futures after China decided to put a 100% tariff on Canadian canola oil and meal. The wheat market showed independent strength on the sixth consecutive lower close on the U.S. Dollar Index and dryness adversely impacting both U.S. Plains wheat and that of southern Russia. Ahead of Tuesday's March WASDE, few meaningful changes are expected in the U.S. balance sheet while all eyes will be on revisions to South American corn and soy production estimates. Pressure came also from outside financial markets as equities continued the downdraft on talk of recession.LIVESTOCK:It's exciting to see not only the live cattle contracts trading higher at Monday's start again, and maintaining through the whole session, but to see boxed beef prices higher at the beginning of the week. Traders were elated to see cash cattle prices venture somewhat higher last week, which is what really pushed the futures complex to jolt higher last Friday. And as long as fundamental support can remain plentiful in the market again this week -- continuing to trade higher shouldn't be an issue for the live cattle complex. If boxed beef prices show good interest all week, there's a chance that packers could be active in this week's market again. However, if demand is soft and prices fall flat, then packers won't likely show much interest in the cash market.Continuing to mirror the live cattle market's trend, the feeder cattle contracts also traded higher heading into Monday's close. It will be interesting to see how traders handle the feeder cattle complex this week as the market is nearing resistance levels. If fundamental support is adequate on the live cattle market side of things (meaning boxed beef demand and strong fed cash cattle sales) then there's a chance that the market inches higher and pressures all time high price points, but without certainty from the live cattle complex, the market will face some headwinds.Thankfully, the market's stronger close last week has added a little technical support early this week, which allowed the lean hog contracts to enjoy stronger prices ahead of Monday's close. And helping the market's cause as well is the fact that midday pork cutout values were up $1.81, and the carcass price is being driven evenly from the cuts. Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/03/10143309/web-closing-markets.mp3">HERE</a> for audio.