The USDA is forecasting that the agricultural trade deficit will shrink in 2026 more than previously anticipated. Agri-Pulse said USDA expects the trade deficit to drop from $43.7 billion in fiscal year 2025 to $37 billion in fiscal year 2026. 

That’s according to the Quarterly Trade Forecast published on Tuesday. During a previous report released in August, the USDA originally predicted a trade deficit of $41.5 billion in this fiscal year. Driving the adjusted outlook are factors like larger-than-expected exports. 

USDA’s export prediction during FY2026 is now $173 billion, up from the projected $169 billion in August. However, even with the revision, exports are still set to contract year-over-year after the U.S. recorded $175.6 billion in exports during fiscal year 2025. “A significant portion of the better outlook can be attributed to improvements in the Chinese market,” Agri-Pulse reported. “Exports are also projected to improve in South Korea, Japan, Mexico, and Southeast Asia.”

The USDA is forecasting that the agricultural trade deficit will shrink in 2026 more than previously anticipated. Agri-Pulse said USDA expects the trade deficit to drop from $43.7 billion in fiscal year 2025 to $37 billion in fiscal year 2026. That’s according to the Quarterly Trade Forecast published on Tuesday. During a previous report released in August, the USDA originally predicted a trade deficit of $41.5 billion in this fiscal year. Driving the adjusted outlook are factors like larger-than-expected exports. USDA’s export prediction during FY2026 is now $173 billion, up from the projected $169 billion in August. However, even with the revision, exports are still set to contract year-over-year after the U.S. recorded $175.6 billion in exports during fiscal year 2025. “A significant portion of the better outlook can be attributed to improvements in the Chinese market,” Agri-Pulse reported. “Exports are also projected to improve in South Korea, Japan, Mexico, and Southeast Asia.”- NAFB

USDA Projects $37 Billion Ag Trade Deficit Next Year

The Bureau of Land Management released its updated greater sage grouse management plans, amending 77 separate land use plans across the West. 

The National Cattlemen’s Beef Association and the Public Lands Council submitted comments on these plans after each phase of the revisions in 2015, 2019, and 2024, advising BLM leadership to leverage livestock grazing as a tool for strengthening sagebrush habitat and preventing wildfires that kill countless birds every year. These amended plans will accomplish these goals and will greatly increase conservation efforts. 

“The revised sage grouse management plans recognize the role of cattle producers, as the original conservationists, and follow the best available science,” said NCBA President and Nebraska cattleman Buck Wehrbein. “Without ranchers actively managing millions of acres of western rangeland, there would be less habitat and forage, and the grouse populations would be substantially smaller.” A single conservation strategy among all states would have been ineffective.

<figure>
 <img src="https://media.eaglewebservices.com/public/2025/9/1758122277307.jpeg" alt="Cattle graze on land in western Nebraska. Photo by Maria Tibbets" />
 <figcaption>Cattle graze on land in western Nebraska. Photo by Maria Tibbets</figcaption>
 </figure>The Bureau of Land Management released its updated greater sage grouse management plans, amending 77 separate land use plans across the West. The National Cattlemen’s Beef Association and the Public Lands Council submitted comments on these plans after each phase of the revisions in 2015, 2019, and 2024, advising BLM leadership to leverage livestock grazing as a tool for strengthening sagebrush habitat and preventing wildfires that kill countless birds every year. These amended plans will accomplish these goals and will greatly increase conservation efforts. “The revised sage grouse management plans recognize the role of cattle producers, as the original conservationists, and follow the best available science,” said NCBA President and Nebraska cattleman Buck Wehrbein. “Without ranchers actively managing millions of acres of western rangeland, there would be less habitat and forage, and the grouse populations would be substantially smaller.” A single conservation strategy among all states would have been ineffective.- NAFB

Sage Grouse Plains Use Science and Stakeholder Input

March corn closed down 1 cent per bushel at $4.50 and May Corn&nbsp;closed down 3/4 cent per bushel at $4.58 1/4 and January soybeans closed down 4 1/2 cents at $10.58 3/4 and March soybeans were down 4 cents at $10.72 1/2. March KC wheat closed down 1/2 cent at $5.33 1/2, March Chicago wheat was down 2 3/4 cents at $5.19 and MIAX March Minneapolis wheat was down 0.01 cents at $5.7925.

With little in the way of fresh news, and in typical holiday-slowed futures trade, corn, soybeans and for the most part wheat traded lower after an early start, with beans and Chicago wheat weakest.

The livestock complex was trading mixed into Friday's noon hour as the market tries to regain focus following the Christmas holiday. Still no new cash cattle trade had developed and no bids were currently on the table.

The live cattle complex was trading higher into Friday's noon hour after as the market is seeing a little bit of a post-holiday rally. More than anything it seemed as though the contracts were trading a tic higher after a weaker close on Wednesday as traders elected to let the contracts fall away from the market's resistance at its 100-day moving average.

The feeder cattle complex was again following the direction of the live cattle market as it too was higher. But what's different about the feeder cattle complex as opposed to the live cattle market is that for the last four trading days, the feeder cattle complex has been able to maintain a position above the market's 100-day moving average in its spot March contract.

Although pork cutout values are up noticeably, the lean hog contracts were still trading lower.&nbsp;

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/24195559/30001.mp3">Click HERE fro Audio</a>

Grains:March corn closed down 1 cent per bushel at $4.50 and May Corn&nbsp;closed down 3/4 cent per bushel at $4.58 1/4 and January soybeans closed down 4 1/2 cents at $10.58 3/4 and March soybeans were down 4 cents at $10.72 1/2. March KC wheat closed down 1/2 cent at $5.33 1/2, March Chicago wheat was down 2 3/4 cents at $5.19 and MIAX March Minneapolis wheat was down 0.01 cents at $5.7925.With little in the way of fresh news, and in typical holiday-slowed futures trade, corn, soybeans and for the most part wheat traded lower after an early start, with beans and Chicago wheat weakest.Livestock:The livestock complex was trading mixed into Friday's noon hour as the market tries to regain focus following the Christmas holiday. Still no new cash cattle trade had developed and no bids were currently on the table.The live cattle complex was trading higher into Friday's noon hour after as the market is seeing a little bit of a post-holiday rally. More than anything it seemed as though the contracts were trading a tic higher after a weaker close on Wednesday as traders elected to let the contracts fall away from the market's resistance at its 100-day moving average.The feeder cattle complex was again following the direction of the live cattle market as it too was higher. But what's different about the feeder cattle complex as opposed to the live cattle market is that for the last four trading days, the feeder cattle complex has been able to maintain a position above the market's 100-day moving average in its spot March contract.Although pork cutout values are up noticeably, the lean hog contracts were still trading lower.&nbsp;<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/24195559/30001.mp3">Click HERE fro Audio</a>

Commodity market daily recap

For only the second time in 2025, the overall Rural Mainstreet Index climbed above a growth-neutral reading of 50.0. That’s according to the monthly survey of bank CEOs in a rural ten-state region dependent on agriculture and energy. The December reading hit 50.1, its highest level since July 2025, and was up from November’s 44.0. The index ranges from 0 to 100, with 50.0 representing growth neutral. 

“Weak agriculture commodity prices and high input costs for grain producers continue to restrain economic activity in the ten-state region,” said Ernie Goss of Creighton University. When asked to identify the most effective policy changes to boost farm income, half of the bank CEOs named the reduction of farm tariffs and trade restrictions as the most effective or useful. For only the second time in the past 20 months, farmland prices expanded above growth-neutral. Farm loan delinquencies only grew by 1.6 percent during the past six months.

For only the second time in 2025, the overall Rural Mainstreet Index climbed above a growth-neutral reading of 50.0. That’s according to the monthly survey of bank CEOs in a rural ten-state region dependent on agriculture and energy. The December reading hit 50.1, its highest level since July 2025, and was up from November’s 44.0. The index ranges from 0 to 100, with 50.0 representing growth neutral. “Weak agriculture commodity prices and high input costs for grain producers continue to restrain economic activity in the ten-state region,” said Ernie Goss of Creighton University. When asked to identify the most effective policy changes to boost farm income, half of the bank CEOs named the reduction of farm tariffs and trade restrictions as the most effective or useful. For only the second time in the past 20 months, farmland prices expanded above growth-neutral. Farm loan delinquencies only grew by 1.6 percent during the past six months.-NAFB

Rural Mainstreet Index Climbed Above Growth Neutral

The U.S. hog inventory is growing. As of December 1, there were 75.5 million hogs and pigs on U.S. farms, which is up one percent from December 2024 and slightly higher than the numbers on September 1, 2025. That’s according to the Hogs and Pigs report published by the USDA’s National Agricultural Statistics Service. 

Other key findings in the report included that of the 75.5 million hogs and pigs, 69.6 million were market hogs, while 5.95 million were kept for breeding. Between September and November 2025, 35 million pigs were weaned on U.S. farms, up slightly from the same period a year earlier. During the same timeframe, hog and pig producers weaned an average of 11.92 pigs per litter. 

Producers also intend to have 2.89 million sows farrow between December 2025 and February 2026, and 2.91 million sows farrow between March and May 2026. Iowa, Minnesota, and North Carolina had the most hogs.

The U.S. hog inventory is growing. As of December 1, there were 75.5 million hogs and pigs on U.S. farms, which is up one percent from December 2024 and slightly higher than the numbers on September 1, 2025. That’s according to the Hogs and Pigs report published by the USDA’s National Agricultural Statistics Service. Other key findings in the report included that of the 75.5 million hogs and pigs, 69.6 million were market hogs, while 5.95 million were kept for breeding. Between September and November 2025, 35 million pigs were weaned on U.S. farms, up slightly from the same period a year earlier. During the same timeframe, hog and pig producers weaned an average of 11.92 pigs per litter. Producers also intend to have 2.89 million sows farrow between December 2025 and February 2026, and 2.91 million sows farrow between March and May 2026. Iowa, Minnesota, and North Carolina had the most hogs.-NAFB

U.S. Hog Inventory Up One Percent

The Fertilizer Institute applauded the House of Representatives for passing HR 4776, the Standard Permitting and Expediting Economic Development (SPEED) Act. The bipartisan legislation is focused on taking important steps to modernize the federal permitting process while maintaining strong environmental protection. 

“Fertilizer production is highly capital-intensive and requires long-term investment in mines, manufacturing plants, and processing facilities,” said TFI President and CEO Corey Rosenbusch. “Even with additional projects in development, after extensive environmental analysis, these projects too often face years of uncertainty due to duplicative reviews, poor coordination, and permitting-related litigation.” 

The bill modernizes and reforms the National Environmental Policy Act review process, codifying a recent Supreme Court decision clarifying that environmental reviews should focus on impacts with a reasonably close causal relationship to the project under review. That will help return NEPA to its intended role as a procedural statute rather than a tool for indefinite delay.

The Fertilizer Institute applauded the House of Representatives for passing HR 4776, the Standard Permitting and Expediting Economic Development (SPEED) Act. The bipartisan legislation is focused on taking important steps to modernize the federal permitting process while maintaining strong environmental protection. “Fertilizer production is highly capital-intensive and requires long-term investment in mines, manufacturing plants, and processing facilities,” said TFI President and CEO Corey Rosenbusch. “Even with additional projects in development, after extensive environmental analysis, these projects too often face years of uncertainty due to duplicative reviews, poor coordination, and permitting-related litigation.” The bill modernizes and reforms the National Environmental Policy Act review process, codifying a recent Supreme Court decision clarifying that environmental reviews should focus on impacts with a reasonably close causal relationship to the project under review. That will help return NEPA to its intended role as a procedural statute rather than a tool for indefinite delay.-NAFB

House Passes the SPEED Act

Corn futures were higher, with trade pressing back toward the next level of nearby resistance with flat to soft spread action in a quiet session into the break. Ethanol margins are seeing a little pressure from corn gains as unleaded remains at the lower end of the range. Basis will likely remain steady to softer into the holiday weeks.

Soybean futures were higher, with meal leading the product complex heading into the break as we continue to ease oversold conditions. South American weather looks to remain mostly good into the end of the months with key growing areas in the best shape. Basis will likely remain soft into the end of the year.

Wheat futures were higher, with winter wheats leading again as KC pushes back past nearby resistance this morning and Chicago gets closer to testing its resistance as well. Southern Hemisphere harvest will start heading to the homestretch soon. Weather for the Plains looks to cool a little from the weekend with short term moisture remaining limited. On the KC March chart, support is the 20-day moving average at $5.23, which we are consolidating above, with resistance the Upper Bollinger Band at $5.40.

The live cattle complex is traded mostly lower into Wednesday's closing bell as traders had mostly checked out ahead of the holiday. And with the market's 100-day moving average still remaining a barrier, which the complex has yet to be able to challenge, a lower trend is most likely to remain the market's theme through the week's end. A few bids are currently on the table in the fed cash cattle market, but nothing sizeable has developed following Tuesday's light trade. On Tuesday, there was some light trade noted in the North at $356 to $357, which is steady to $1.00 lower than last week's weighted average, and some Southern live cattle traded at $229, which is $2.00 higher than last week's weighted average. Some light clean up trade could happen between now and Friday, but this week's trade isn't expected to amount to much.

While the live cattle complex traded mostly lower, the feeder cattle contracts moved the opposite direction of the live cattle market and traded mostly higher for the bulk of the session but faded to end narrowly mixed into the day's closing bell. It's quite impressive that the feeder cattle complex has been able to maintain its position above the market's 100-day moving average without much support from the live cattle complex.

The lean hog complex was again trading lower into Wednesday's close, after seeing the Quarterly Hogs and Pigs report, and with the holiday sluggishness setting in. It's likely that the market will look for reassurance fundamentally again before it challenges the resistance at $90.00.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/24124738/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:Corn futures were higher, with trade pressing back toward the next level of nearby resistance with flat to soft spread action in a quiet session into the break. Ethanol margins are seeing a little pressure from corn gains as unleaded remains at the lower end of the range. Basis will likely remain steady to softer into the holiday weeks. Soybean futures were higher, with meal leading the product complex heading into the break as we continue to ease oversold conditions. South American weather looks to remain mostly good into the end of the months with key growing areas in the best shape. Basis will likely remain soft into the end of the year. Wheat futures were higher, with winter wheats leading again as KC pushes back past nearby resistance this morning and Chicago gets closer to testing its resistance as well. Southern Hemisphere harvest will start heading to the homestretch soon. Weather for the Plains looks to cool a little from the weekend with short term moisture remaining limited. On the KC March chart, support is the 20-day moving average at $5.23, which we are consolidating above, with resistance the Upper Bollinger Band at $5.40.LIVESTOCK:The live cattle complex is traded mostly lower into Wednesday's closing bell as traders had mostly checked out ahead of the holiday. And with the market's 100-day moving average still remaining a barrier, which the complex has yet to be able to challenge, a lower trend is most likely to remain the market's theme through the week's end. A few bids are currently on the table in the fed cash cattle market, but nothing sizeable has developed following Tuesday's light trade. On Tuesday, there was some light trade noted in the North at $356 to $357, which is steady to $1.00 lower than last week's weighted average, and some Southern live cattle traded at $229, which is $2.00 higher than last week's weighted average. Some light clean up trade could happen between now and Friday, but this week's trade isn't expected to amount to much.While the live cattle complex traded mostly lower, the feeder cattle contracts moved the opposite direction of the live cattle market and traded mostly higher for the bulk of the session but faded to end narrowly mixed into the day's closing bell. It's quite impressive that the feeder cattle complex has been able to maintain its position above the market's 100-day moving average without much support from the live cattle complex.The lean hog complex was again trading lower into Wednesday's close, after seeing the Quarterly Hogs and Pigs report, and with the holiday sluggishness setting in. It's likely that the market will look for reassurance fundamentally again before it challenges the resistance at $90.00.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/24124738/web-closing-markets.mp3">Click HERE for audio</a>

Congressional Republicans plan to revive stalled farm bill negotiations in January after failing to pass a new measure by year’s end, extending uncertainty for farmers facing high costs, inflation and trade disruptions. House Agriculture Committee Chairman G.T. Thompson said he hopes to schedule a committee markup ahead of a Jan. 30 funding deadline, though he acknowledged it may be difficult to attach the bill to must-pass spending legislation. The delay means Congress will enter a third year without updating major agriculture policy. Lawmakers remain divided over whether a traditional five-year farm bill is still achievable. 

Thompson and Senate Agriculture Chairman John Boozman say progress remains possible, even in an election year. But some policy experts are skeptical, noting recent budget legislation sharply expanded farm subsidies while cutting food assistance, weakening the longstanding political link between the two. Congress extended the 2018 farm bill for another year in November, giving lawmakers until Sept. 30, 2026, to enact a replacement.

Congressional Republicans plan to revive stalled farm bill negotiations in January after failing to pass a new measure by year’s end, extending uncertainty for farmers facing high costs, inflation and trade disruptions. House Agriculture Committee Chairman G.T. Thompson said he hopes to schedule a committee markup ahead of a Jan. 30 funding deadline, though he acknowledged it may be difficult to attach the bill to must-pass spending legislation. The delay means Congress will enter a third year without updating major agriculture policy. Lawmakers remain divided over whether a traditional five-year farm bill is still achievable. Thompson and Senate Agriculture Chairman John Boozman say progress remains possible, even in an election year. But some policy experts are skeptical, noting recent budget legislation sharply expanded farm subsidies while cutting food assistance, weakening the longstanding political link between the two. Congress extended the 2018 farm bill for another year in November, giving lawmakers until Sept. 30, 2026, to enact a replacement.-NAFB

Lawmakers divided on whether farm bill can be passed in 2026

Two railroad companies submitted a comprehensive application to the Surface Transportation Board requesting approval to combine two major freight railroads into what would be the first transcontinental railroad in America. Union Pacific and Norfolk Southern filed the request late last week, representing what could be a landmark development in the U.S. They’re proposing to create a unified rail network across the nation from coast to coast. 

Reports say that the almost 7,000-page application gives a specific explanation on how the combination would enhance competition throughout the freight industry while delivering public benefits to their customers, employees, and communities across the country. The merger agreement, which outlines that Union Pacific is acquiring Norfolk Southern, was put in place on July 29, 2025, setting the stage for the regulatory application. The move isn’t without critics, as it has drawn opposition from trade groups, unions representing engineers and track workers, and rival carrier BNSF.

Two railroad companies submitted a comprehensive application to the Surface Transportation Board requesting approval to combine two major freight railroads into what would be the first transcontinental railroad in America. Union Pacific and Norfolk Southern filed the request late last week, representing what could be a landmark development in the U.S. They’re proposing to create a unified rail network across the nation from coast to coast. Reports say that the almost 7,000-page application gives a specific explanation on how the combination would enhance competition throughout the freight industry while delivering public benefits to their customers, employees, and communities across the country. The merger agreement, which outlines that Union Pacific is acquiring Norfolk Southern, was put in place on July 29, 2025, setting the stage for the regulatory application. The move isn’t without critics, as it has drawn opposition from trade groups, unions representing engineers and track workers, and rival carrier BNSF.-NAFB

Historic rail merger application filed

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

Tuesday was, as expected, another very quiet session across row-crop futures, with markets falling from early day gains amid a lack of volume required to build momentum to break through technical ceilings. Another round of solid export data from USDA, this time for the week ended Dec. 11 offered some strength, which was countered by at least a temporary unwinding of some of the surge seen in vegetable oil markets on Monday, specifically canola and soybean oil. Palm oil futures in the meanwhile remained sharply higher. Outside markets for Tuesday saw higher equity markets after U.S. third quarter GDP was reported well above expectations and the highest quarterly growth for the U.S. economy at annual rate of 4.3%. Energy markets were mixed to higher as well.

To no one's real surprise, following Monday's stronger trade, the live cattle complex was back to trading lower as the market's resistance at its 100-day moving average remains a difficult barrier to conquer. Still no cash cattle trade has developed, and the week's volume will likely be rather thin given that it's the week of Christmas and packers will run reduced kill schedules both this week and next. Boxed beef prices are mixed: choice down $3.04 ($359.83) and select up $1.18 ($351.87) with a movement of 58 loads (38.91 loads of choice, 4.72 loads of select, 5.32 loads of trim and 8.78 loads of ground beef).

The feeder cattle complex also traded lower, again seeming to follow the direction of the live cattle complex closely. But even with the market's slight downturn, the spot March contract is still currently trading above its 100-day moving average.

The lean hog complex was rallying into Tuesday's close, waiting for the highly anticipated Quarterly Hogs and Pigs report to be shared later this afternoon. The nearby April contract is currently trading above the market's resistance threshold at $90.00, which was a significant move this morning.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/23140213/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed up 1/2 cent and May corn was up 1 cent. January soybeans closed down 1 3/4 cents and March soybeans were down 1 1/4 cents. March KC wheat closed up 6 3/4 cents, March Chicago wheat was up 1 1/2 cents, March Minneapolis wheat was up 1/4 cents.Tuesday was, as expected, another very quiet session across row-crop futures, with markets falling from early day gains amid a lack of volume required to build momentum to break through technical ceilings. Another round of solid export data from USDA, this time for the week ended Dec. 11 offered some strength, which was countered by at least a temporary unwinding of some of the surge seen in vegetable oil markets on Monday, specifically canola and soybean oil. Palm oil futures in the meanwhile remained sharply higher. Outside markets for Tuesday saw higher equity markets after U.S. third quarter GDP was reported well above expectations and the highest quarterly growth for the U.S. economy at annual rate of 4.3%. Energy markets were mixed to higher as well.LIVESTOCK:To no one's real surprise, following Monday's stronger trade, the live cattle complex was back to trading lower as the market's resistance at its 100-day moving average remains a difficult barrier to conquer. Still no cash cattle trade has developed, and the week's volume will likely be rather thin given that it's the week of Christmas and packers will run reduced kill schedules both this week and next. Boxed beef prices are mixed: choice down $3.04 ($359.83) and select up $1.18 ($351.87) with a movement of 58 loads (38.91 loads of choice, 4.72 loads of select, 5.32 loads of trim and 8.78 loads of ground beef).The feeder cattle complex also traded lower, again seeming to follow the direction of the live cattle complex closely. But even with the market's slight downturn, the spot March contract is still currently trading above its 100-day moving average.The lean hog complex was rallying into Tuesday's close, waiting for the highly anticipated Quarterly Hogs and Pigs report to be shared later this afternoon. The nearby April contract is currently trading above the market's resistance threshold at $90.00, which was a significant move this morning. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/23140213/web-closing-markets.mp3">Click HERE for audio</a>

Commodity markets daily recap

The Department of Agriculture does not plan to issue additional emergency farm aid beyond the recently announced $12 billion assistance package, even as financial stress deepens across the farm sector, said Richard Fordyce, USDA's undersecretary for farm production and conservation. The payments are intended to help producers cope with low commodity prices, elevated production costs and reduced export demand tied to ongoing trade tensions. But economists and farm advocates warn many operations may continue to struggle without further support or stronger export growth. 

U.S. agriculture has traditionally posted trade surpluses, but rising imports and slowing exports have pushed the sector into a widening trade deficit. That shift has weighed heavily on farm income, particularly for row-crop producers dependent on foreign markets. USDA officials say budget constraints and existing authorities limit the department’s ability to offer more aid in the near term. Many farmers, however, say long-term relief will depend less on direct payments and more on expanded trade opportunities.

The Department of Agriculture does not plan to issue additional emergency farm aid beyond the recently announced $12 billion assistance package, even as financial stress deepens across the farm sector, said Richard Fordyce, USDA's undersecretary for farm production and conservation. The payments are intended to help producers cope with low commodity prices, elevated production costs and reduced export demand tied to ongoing trade tensions. But economists and farm advocates warn many operations may continue to struggle without further support or stronger export growth. U.S. agriculture has traditionally posted trade surpluses, but rising imports and slowing exports have pushed the sector into a widening trade deficit. That shift has weighed heavily on farm income, particularly for row-crop producers dependent on foreign markets. USDA officials say budget constraints and existing authorities limit the department’s ability to offer more aid in the near term. Many farmers, however, say long-term relief will depend less on direct payments and more on expanded trade opportunities.-NAFB

USDA signals no additional farm aid beyond $12B Package

A new USDA labeling rule takes effect Jan. 1, tightening standards for when meat, poultry and egg products may be identified as a product of the United States. Under the regulation, finalized in March 2024, companies may use labels such as “Product of USA” or “Made in USA” only if the animals were born, raised, slaughtered and processed in the United States. Meat from animals imported live for feeding or processing no longer qualifies.

 Products that are minimally processed may use qualified claims, such as noting they were sliced or packaged domestically using imported meat. The rule does not require companies to use U.S.-origin labels, but any firm that does must maintain records supporting the claim. USDA will generically approve labels without additional verification programs. The regulation applies only to domestic sales, not exports. Critics warn it could strain trade ties, particularly with Canada and Mexico, and discourage imports of live animals.

A new USDA labeling rule takes effect Jan. 1, tightening standards for when meat, poultry and egg products may be identified as a product of the United States. Under the regulation, finalized in March 2024, companies may use labels such as “Product of USA” or “Made in USA” only if the animals were born, raised, slaughtered and processed in the United States. Meat from animals imported live for feeding or processing no longer qualifies. Products that are minimally processed may use qualified claims, such as noting they were sliced or packaged domestically using imported meat. The rule does not require companies to use U.S.-origin labels, but any firm that does must maintain records supporting the claim. USDA will generically approve labels without additional verification programs. The regulation applies only to domestic sales, not exports. Critics warn it could strain trade ties, particularly with Canada and Mexico, and discourage imports of live animals.-NAFB

'Product of USA' meat labeling rule takes effect Jan. 1

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

With the winter season officially underway, row crops kicked off Christmas week with a subdued trading session which saw mostly higher prices. Higher energy futures were the primary bullish driver for Monday with crude oil futures up for a fourth consecutive session and after hitting almost five-year lows last week, on renewed geopolitical risk premium as the U.S. has seized two Venezuelan oil tankers and is reportedly pursuing a third to start the week. Also adding to the unease is heightened Russian attacks on key Ukrainian export infrastructure, at least temporarily giving pause to what had been growing hopes for peace in that area. This gave a boost to vegetable oil markets to start the week, with soybean oil posting just the third positive session out of the past ten.

Following last week's bullish Cattle on Feed report and somewhat bullish fed cash cattle trade, the live cattle contracts traded higher into Monday's closing bell and are again trading alongside the market's 100-day moving average. Traders would like to conquer that threshold, but without knowing for sure how much fundamental support is going to remain in the market, given that it will be a holiday-shortened week both this week and next, traders remain cautious about breaking through that barrier right now. It is helpful to note boxed beef prices were higher again today, showing ample consumer support heading into the Christmas holiday. New showlists appear to be mixed, higher in Texas and Kansas, but lower in Nebraska/Colorado. Last week Northern dressed cattle traded at mostly $355 to $358, which is $2.00 to $4.00 higher than the previous week's weighted average, but Southern live cattle traded at mostly $228, which is $2.00 lower than the previous week's weighted average.

Today is the first chance that traders have had to fully react to Friday's bullish Cattle on Feed report, and they boldly continued to push the feeder cattle contracts higher, incrementally moving the contracts past the 100-day moving average. Given the strong note of higher boxed beef prices this morning, and the higher trend in the live cattle contracts, it's likely that the market will be able to maintain this rally through the day's close.

The lean hog contracts traded slightly higher into Monday's close as traders are hopeful that more support will develop and allow the contracts to trade above the resistance at $90.00. Do note that on Tuesday (tomorrow), the Quarterly Hogs and Pigs report will be released.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/22140141/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed up 3 1/4 cents and May corn was up 3 cents. January soybeans closed up 4 cents and March soybeans were up 5 1/2 cents. March KC wheat closed up 6 cents, March Chicago wheat was up 5 3/4 cents, March Minneapolis wheat was up 1 cent.With the winter season officially underway, row crops kicked off Christmas week with a subdued trading session which saw mostly higher prices. Higher energy futures were the primary bullish driver for Monday with crude oil futures up for a fourth consecutive session and after hitting almost five-year lows last week, on renewed geopolitical risk premium as the U.S. has seized two Venezuelan oil tankers and is reportedly pursuing a third to start the week. Also adding to the unease is heightened Russian attacks on key Ukrainian export infrastructure, at least temporarily giving pause to what had been growing hopes for peace in that area. This gave a boost to vegetable oil markets to start the week, with soybean oil posting just the third positive session out of the past ten.LIVESTOCK:Following last week's bullish Cattle on Feed report and somewhat bullish fed cash cattle trade, the live cattle contracts traded higher into Monday's closing bell and are again trading alongside the market's 100-day moving average. Traders would like to conquer that threshold, but without knowing for sure how much fundamental support is going to remain in the market, given that it will be a holiday-shortened week both this week and next, traders remain cautious about breaking through that barrier right now. It is helpful to note boxed beef prices were higher again today, showing ample consumer support heading into the Christmas holiday. New showlists appear to be mixed, higher in Texas and Kansas, but lower in Nebraska/Colorado. Last week Northern dressed cattle traded at mostly $355 to $358, which is $2.00 to $4.00 higher than the previous week's weighted average, but Southern live cattle traded at mostly $228, which is $2.00 lower than the previous week's weighted average.Today is the first chance that traders have had to fully react to Friday's bullish Cattle on Feed report, and they boldly continued to push the feeder cattle contracts higher, incrementally moving the contracts past the 100-day moving average. Given the strong note of higher boxed beef prices this morning, and the higher trend in the live cattle contracts, it's likely that the market will be able to maintain this rally through the day's close.The lean hog contracts traded slightly higher into Monday's close as traders are hopeful that more support will develop and allow the contracts to trade above the resistance at $90.00. Do note that on Tuesday (tomorrow), the Quarterly Hogs and Pigs report will be released. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/22140141/web-closing-markets.mp3">Click HERE for audio</a>

USDA has approved stricter limits on what Supplemental Nutrition Assistance Program recipients can buy, with changes set to take effect in 2026 in multiple states. Under the waivers, states can redefine “food for purchase” to exclude items such as candy, soda, energy drinks and other products deemed unhealthy. Six states — including Hawaii, Missouri, North Dakota, South Carolina, Tennessee and Virginia — received USDA approval this week, joining others that have already adopted similar rules under the “Make America Healthy Again” initiative. 

Federal officials, including Agriculture Secretary Brooke L. Rollins, say the changes aim to align SNAP with nutritional goals and reduce diet-related chronic illnesses. Implementation details will vary by state, with some plans already targeting specific categories like sugary beverages. The effort has sparked debate among advocates and critics over the balance between nutritional policy and food access for low-income households.

USDA has approved stricter limits on what Supplemental Nutrition Assistance Program recipients can buy, with changes set to take effect in 2026 in multiple states. Under the waivers, states can redefine “food for purchase” to exclude items such as candy, soda, energy drinks and other products deemed unhealthy. Six states — including Hawaii, Missouri, North Dakota, South Carolina, Tennessee and Virginia — received USDA approval this week, joining others that have already adopted similar rules under the “Make America Healthy Again” initiative. Federal officials, including Agriculture Secretary Brooke L. Rollins, say the changes aim to align SNAP with nutritional goals and reduce diet-related chronic illnesses. Implementation details will vary by state, with some plans already targeting specific categories like sugary beverages. The effort has sparked debate among advocates and critics over the balance between nutritional policy and food access for low-income households.-NAFB

SNAP purchase limits approved for 2026

Leaders of the House Agriculture Committee say Congress may need to step in with at least $10 billion in additional aid for U.S. farmers, beyond the $12 billion Farmer Bridge Assistance Program recently announced by the Trump administration. House Agriculture Committee Chairman Glenn “GT” Thompson, said the administration’s program, while helpful, does not go far enough to support all sectors of agriculture. The current package is largely aimed at row crops such as corn, soybeans and wheat, with about $1 billion set aside for other commodities. 

Thompson said industries including dairy, timber and specialty crops may require further assistance to help producers secure credit and remain viable into 2026. He emphasized that any supplemental aid should stabilize farms without replacing market forces. Meanwhile, USDA Undersecretary Richard Fordyce said budget constraints make a second aid package from the agency unlikely, leaving Congress as the primary option for more support. Senate Agriculture Committee leaders said they are waiting to see how far the current funds go before committing to a specific amount of additional aid.

Leaders of the House Agriculture Committee say Congress may need to step in with at least $10 billion in additional aid for U.S. farmers, beyond the $12 billion Farmer Bridge Assistance Program recently announced by the Trump administration. House Agriculture Committee Chairman Glenn “GT” Thompson, said the administration’s program, while helpful, does not go far enough to support all sectors of agriculture. The current package is largely aimed at row crops such as corn, soybeans and wheat, with about $1 billion set aside for other commodities. Thompson said industries including dairy, timber and specialty crops may require further assistance to help producers secure credit and remain viable into 2026. He emphasized that any supplemental aid should stabilize farms without replacing market forces. Meanwhile, USDA Undersecretary Richard Fordyce said budget constraints make a second aid package from the agency unlikely, leaving Congress as the primary option for more support. Senate Agriculture Committee leaders said they are waiting to see how far the current funds go before committing to a specific amount of additional aid.-NAFB

Lawmakers propose additional aid for farmers

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

March corn closed up 3 cents and March corn was up 2 1/2 cents. January soybeans closed down 27 1/2 cents and March soybeans were down 27 1/4 cents. March KC wheat closed down 2 3/4 cents, March Chicago wheat was down 19 1/2 cents and March Minneapolis wheat was up 2 1/4 cents.

Row-crop futures were mostly moderately lower to close the week, with little fresh news to break the fall in soybean futures or encourage corn traders to challenge nearby price resistance. In outside markets, energy futures were mixed with higher crude oil and gasoline futures but sluggish diesel prices, which contributed to the pressure on oilseed markets to close the week. Equity markets were higher in quiet trade, with a higher U.S. Dollar Index as well for the third straight session.

Things were heating up in the cattle complex as the live cattle contracts were again pressing up against the market's 100-day moving average. Traders are seeming to hold their breath, patiently waiting to see what's going to develop in the Southern Plains as still no cattle have traded in that region. Bids are on the table in Kansas at $227, which is far below the asking price of $232 to $233, and asking prices in the North are holding steady at $358-plus. There was a light movement of trade in Nebraska at $358 Thursday afternoon, which is $4.00 higher than last week's weighted average. Boxed beef prices are higher: choice up $3.61 ($360.89) and select up $3.57 ($347.54) with a movement of 69 loads (43.73 loads of choice, 8.34 loads of select, 11.09 loads of trim and 6.32 loads of ground beef).

The feeder cattle complex pushed a dynamite rally into Friday's closing bell, as contracts were trading anywhere from $5.00 $6.00 higher. The spot March contract is currently trading above its 100-day moving average, seeming to feel well supported since the live cattle contracts are higher, fed cash cattle prices are stronger this week, and hopeful this afternoon's Cattle on Feed report will be bullish too. Time will tell.

The lean hog complex was back to trading higher as traders seemed to have regained some faith in the market but are also feeling additionally supported by the day's slight uptick in pork cutouts. It's unlikely the market will challenge resistance at $90.00, but a steady tone could be maintained through the early parts of next week.

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By: NATHAN STUEDLEGRAINS:March corn closed down 3/4 cents and May corn was down 3/4 cents. January soybeans closed down 3 cents and March soybeans were down 2 1/2 cents. March KC wheat closed down 1 3/4 cents, March Chicago wheat was up 2 cents, March Minneapolis wheat was up 5 cents.For the Week:March corn closed up 3 cents and March corn was up 2 1/2 cents. January soybeans closed down 27 1/2 cents and March soybeans were down 27 1/4 cents. March KC wheat closed down 2 3/4 cents, March Chicago wheat was down 19 1/2 cents and March Minneapolis wheat was up 2 1/4 cents.Row-crop futures were mostly moderately lower to close the week, with little fresh news to break the fall in soybean futures or encourage corn traders to challenge nearby price resistance. In outside markets, energy futures were mixed with higher crude oil and gasoline futures but sluggish diesel prices, which contributed to the pressure on oilseed markets to close the week. Equity markets were higher in quiet trade, with a higher U.S. Dollar Index as well for the third straight session.LIVESTOCK:Things were heating up in the cattle complex as the live cattle contracts were again pressing up against the market's 100-day moving average. Traders are seeming to hold their breath, patiently waiting to see what's going to develop in the Southern Plains as still no cattle have traded in that region. Bids are on the table in Kansas at $227, which is far below the asking price of $232 to $233, and asking prices in the North are holding steady at $358-plus. There was a light movement of trade in Nebraska at $358 Thursday afternoon, which is $4.00 higher than last week's weighted average. Boxed beef prices are higher: choice up $3.61 ($360.89) and select up $3.57 ($347.54) with a movement of 69 loads (43.73 loads of choice, 8.34 loads of select, 11.09 loads of trim and 6.32 loads of ground beef).The feeder cattle complex pushed a dynamite rally into Friday's closing bell, as contracts were trading anywhere from $5.00 $6.00 higher. The spot March contract is currently trading above its 100-day moving average, seeming to feel well supported since the live cattle contracts are higher, fed cash cattle prices are stronger this week, and hopeful this afternoon's Cattle on Feed report will be bullish too. Time will tell.The lean hog complex was back to trading higher as traders seemed to have regained some faith in the market but are also feeling additionally supported by the day's slight uptick in pork cutouts. It's unlikely the market will challenge resistance at $90.00, but a steady tone could be maintained through the early parts of next week.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/19140646/web-closing-markets.mp3">Click HERE for audio</a>

The Energy Information Administration said ethanol output jumped to a new record high in the seven days ending on December 12. U.S. production rose to an average of 1.131 million barrels a day, which the agency said is up from 1.105 million the previous week and eclipsed a record set two weeks earlier. In the Midwest, output rose to an average of 1.078 million barrels a day, up from 1.046 million the prior week. 

That was all the gains for the week. East Coast production was steady at 11,000 barrels a day, on average, for the fourth-straight week. West Coast output held steady at 9,000 barrels a day. Gulf Coast production dropped by 4,000 barrels to an average of 28,000 per day, and Rocky Mountain output dropped by 2,000 barrels a day to 9,000. Inventories during the week fell to 22.353 million barrels.

The Energy Information Administration said ethanol output jumped to a new record high in the seven days ending on December 12. U.S. production rose to an average of 1.131 million barrels a day, which the agency said is up from 1.105 million the previous week and eclipsed a record set two weeks earlier. In the Midwest, output rose to an average of 1.078 million barrels a day, up from 1.046 million the prior week. That was all the gains for the week. East Coast production was steady at 11,000 barrels a day, on average, for the fourth-straight week. West Coast output held steady at 9,000 barrels a day. Gulf Coast production dropped by 4,000 barrels to an average of 28,000 per day, and Rocky Mountain output dropped by 2,000 barrels a day to 9,000. Inventories during the week fell to 22.353 million barrels.-NAFB

Ethanol production hits another record high

China has secured at least seven million tons of U.S. soybeans after multiple purchases during the past two weeks. Bloomberg said that puts the Asian country over halfway to meeting the 12-million-ton purchase agreement it made with the Trump administration. People familiar with the deals say the total comes from purchases by Sinograin, the state company in charge of managing China’s strategic grain stockpiles. 

The company purchased about two million tons in the last week alone, with buys continuing into this week. Bloomberg reports that at least seven soybean cargoes were purchased, totaling over 400,000 tons. Officially, the USDA has reported under four million tons of soybeans sold to China, but industry insiders say the total is likely much higher. Unfortunately, prices will likely stay under pressure, even though U.S. sellers and Chinese buyers expect the target to be met. It’s unknown exactly when the beans will ship.  

China has secured at least seven million tons of U.S. soybeans after multiple purchases during the past two weeks. Bloomberg said that puts the Asian country over halfway to meeting the 12-million-ton purchase agreement it made with the Trump administration. People familiar with the deals say the total comes from purchases by Sinograin, the state company in charge of managing China’s strategic grain stockpiles. The company purchased about two million tons in the last week alone, with buys continuing into this week. Bloomberg reports that at least seven soybean cargoes were purchased, totaling over 400,000 tons. Officially, the USDA has reported under four million tons of soybeans sold to China, but industry insiders say the total is likely much higher. Unfortunately, prices will likely stay under pressure, even though U.S. sellers and Chinese buyers expect the target to be met. It’s unknown exactly when the beans will ship. -NAFB

China halfway to soybean purchase commitment

March corn closed up 4 cents and May corn was up 4 1/2 cents. January soybeans closed down 6 cents and March soybeans were down 6 3/4 cents. March KC wheat closed up 9 1/4 cents, March Chicago wheat was up 1 1/2 cents, March Minneapolis wheat was up 11 cents.

The corn market extended its recovery to two days on Thursday, reclaiming lost technical ground in the process on rumors that China may have bought some U.S. corn off the PNW this week. Meanwhile, the soybean complex was again lower with the exception of meal futures. Wheat futures led the charge higher on Thursday, attracting bargain buying as futures had approached and, in some cases set, new 2025 and contract lows across markets earlier this week. In macroeconomic news, the November Consumer Price Index reading of 2.7% annual inflation was firmly and surprisingly lower than the 3% reading in September. Market reaction to the news was mixed with slightly higher Treasuries but yield futures flat to only a touch lower as some economists had offered a word of warning that the data collection during the government shutdown may have resulted in a skewed inflation measure this month.

The live cattle complex was again trading lower, as though some light cash cattle trade has been reported at higher prices again this week, traders still don't believe they possess enough well-rounded support to successfully conquer the market's 100-day moving average. This left the complex only one way to go, which was lower. Even though packers bought the largest weekly trade volume of 2024 and 2025 last week at just over 103,000 head, fed cash cattle prices are trending a tick higher again this morning as packers are still in need of more cattle. Some light trade has been reported in the North by a regional packer at $358, which is $4.00 higher than last week's weighted average. A few more bids are on the table in parts of Kansas, but no Southern trade has developed yet. Asking prices remain firm in the South at $232 to $233, and in the North at $360 plus. Boxed beef prices are mixed: choice up $0.95 ($357.04) and select down $2.38 ($344.05) with a movement of 46 loads ($31.77 loads of choice, 6.76 loads of select, zero loads of trim and 7.52 loads of ground beef).

Continuing to follow the direction of the live cattle complex, the feeder cattle contracts traded lower into Thursday's closing bell. Although the market continues to see adequate fundamental support, it's likely the complex could keep with this steady/somewhat lower trend as traders don't believe this is the best time to advance the complex over a major resistance threshold with the Christmas holiday just days ahead.

The lean hog complex was traded mostly higher as traders are to see pork cutout values up over $2.00 higher. And with Wednesday's lower technical close, the market is no longer up against immediate resistance pressure.

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By: NATHAN STUEDLEGRAINS:March corn closed up 4 cents and May corn was up 4 1/2 cents. January soybeans closed down 6 cents and March soybeans were down 6 3/4 cents. March KC wheat closed up 9 1/4 cents, March Chicago wheat was up 1 1/2 cents, March Minneapolis wheat was up 11 cents.The corn market extended its recovery to two days on Thursday, reclaiming lost technical ground in the process on rumors that China may have bought some U.S. corn off the PNW this week. Meanwhile, the soybean complex was again lower with the exception of meal futures. Wheat futures led the charge higher on Thursday, attracting bargain buying as futures had approached and, in some cases set, new 2025 and contract lows across markets earlier this week. In macroeconomic news, the November Consumer Price Index reading of 2.7% annual inflation was firmly and surprisingly lower than the 3% reading in September. Market reaction to the news was mixed with slightly higher Treasuries but yield futures flat to only a touch lower as some economists had offered a word of warning that the data collection during the government shutdown may have resulted in a skewed inflation measure this month.LIVESTOCK:The live cattle complex was again trading lower, as though some light cash cattle trade has been reported at higher prices again this week, traders still don't believe they possess enough well-rounded support to successfully conquer the market's 100-day moving average. This left the complex only one way to go, which was lower. Even though packers bought the largest weekly trade volume of 2024 and 2025 last week at just over 103,000 head, fed cash cattle prices are trending a tick higher again this morning as packers are still in need of more cattle. Some light trade has been reported in the North by a regional packer at $358, which is $4.00 higher than last week's weighted average. A few more bids are on the table in parts of Kansas, but no Southern trade has developed yet. Asking prices remain firm in the South at $232 to $233, and in the North at $360 plus. Boxed beef prices are mixed: choice up $0.95 ($357.04) and select down $2.38 ($344.05) with a movement of 46 loads ($31.77 loads of choice, 6.76 loads of select, zero loads of trim and 7.52 loads of ground beef).Continuing to follow the direction of the live cattle complex, the feeder cattle contracts traded lower into Thursday's closing bell. Although the market continues to see adequate fundamental support, it's likely the complex could keep with this steady/somewhat lower trend as traders don't believe this is the best time to advance the complex over a major resistance threshold with the Christmas holiday just days ahead.The lean hog complex was traded mostly higher as traders are to see pork cutout values up over $2.00 higher. And with Wednesday's lower technical close, the market is no longer up against immediate resistance pressure. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/18135625/web-closing-markets.mp3">Click HERE for audio</a>

The U.S. isn’t the only country seeing a decline in ag equipment purchases. Brazil saw a double-digit percentage drop in tractor sales in November. That’s according to data from the Association of Equipment Manufacturers. Total tractor shipments in the country were down five percent on an annual basis last month. Sales of high-horsepower and low-horsepower tractors were down 15 percent year over year in November, which followed another ten percent decline in October. 

High-horsepower tractor sales in Brazil plunged 28 percent in November and are down 15 percent year to date, according to a report from Truist Securities. Deere said it expects flat year-over-year tractor and combine sales in South America, AGCO said it expects modest growth in South America in 2026, and CNH said industry volumes will be flat. “Demand remains uncertain, due in part to the U.S.-China trade agreement, high interest rates, and strong crop yields,” Truist added.

The U.S. isn’t the only country seeing a decline in ag equipment purchases. Brazil saw a double-digit percentage drop in tractor sales in November. That’s according to data from the Association of Equipment Manufacturers. Total tractor shipments in the country were down five percent on an annual basis last month. Sales of high-horsepower and low-horsepower tractors were down 15 percent year over year in November, which followed another ten percent decline in October. High-horsepower tractor sales in Brazil plunged 28 percent in November and are down 15 percent year to date, according to a report from Truist Securities. Deere said it expects flat year-over-year tractor and combine sales in South America, AGCO said it expects modest growth in South America in 2026, and CNH said industry volumes will be flat. “Demand remains uncertain, due in part to the U.S.-China trade agreement, high interest rates, and strong crop yields,” Truist added.-NAFB

Ag equipment sales are also falling outside the U.S. 

The National Corn Growers Association announced the winners of the 2025 Yield Contest. With growing conditions that led to a projected record corn crop, this year’s participants delivered impressive yields, once again showcasing the ingenuity of U.S. agriculture. In the 61st year of the contest, it saw almost 7,800 entries from farmers in 47 states. Entrants across the ten production categories had verified yields averaging 269 bushels an acre. 

The highest yield for this year came out of Charles City, Virginia, at 572.25 bushels per acre in Class H (strip-till irrigated) for David Hula. “The Yield Contest is really about finding out what this crop is capable of,” said NCGA President Jed Bower. ‘’And as corn farmers, we get to show what we’re made of too.”Winners will be honored at the 2026 Commodity Classic in San Antonio, Texas, February 25–27.&nbsp; A complete list of the winners can be found at <a href="https://ncga.com/get-involved/yield-contest">ncga.com/YieldContest</a>.

The National Corn Growers Association announced the winners of the 2025 Yield Contest. With growing conditions that led to a projected record corn crop, this year’s participants delivered impressive yields, once again showcasing the ingenuity of U.S. agriculture. In the 61st year of the contest, it saw almost 7,800 entries from farmers in 47 states. Entrants across the ten production categories had verified yields averaging 269 bushels an acre. The highest yield for this year came out of Charles City, Virginia, at 572.25 bushels per acre in Class H (strip-till irrigated) for David Hula. “The Yield Contest is really about finding out what this crop is capable of,” said NCGA President Jed Bower. ‘’And as corn farmers, we get to show what we’re made of too.”Winners will be honored at the 2026 Commodity Classic in San Antonio, Texas, February 25–27.&nbsp; A complete list of the winners can be found at <a href="https://ncga.com/get-involved/yield-contest">ncga.com/YieldContest</a>.-NAFB

NCGA announces yield contest winners

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

It was another mixed to bearish session for U.S. row crops on Wednesday as South American weather bears continue to lead liquidation efforts in the soybean complex, although prices ultimately found interested buyers over the last couple of hours of trade and are oversold from a technical viewpoint. Meanwhile, corn futures found support when March prices fell below the 100-day moving average on Tuesday, rebounding to recapture those losses Wednesday. Wheat markets in the meanwhile fell to new lows in Chicago and Minneapolis. Energy markets turned higher from early 2021 lows set on Tuesday, going largely ignored in the ag sector other than positive influence on corn futures, especially following a mostly positive weekly ethanol report from the Energy Information Administration (EIA). Equities were again weaker on Wednesday as well on profit-taking following last week's surge to a new record for the Dow Jones Industrial Average.

After rallying throughout Tuesday's trade, the live cattle complex has again settled to trade lower as the resistance at the market's 100-day moving average simply remains too stiff of a barrier to challenge at this point. Are you seeing the trend in the market right now? One day the market rallies and trades higher, but then on the next day, it steps lower as traders don't believe that either they possess enough support or that it's the right time to challenge the market's resistance. Either way, the complex is trading merely steady, holding a position just below the 100-day moving average. No cash cattle trade has developed yet. Boxed beef prices are lower: choice down $1.96 ($356.92) and select down $0.26 ($348.84) with a movement of 91 loads (72.72 loads of choice, 7.09 loads of select, zero loads of trim and 11.61 loads of ground beef).

After closing above the market's resistance at its 100-day moving average, the feeder cattle complex is tradeda tick lower into Wednesday's close. The market still remains above that threshold, which is significant. With the live cattle contracts trading lower, it was not surprising to see the feeder cattle contracts dip back below the market's resistance at its 100-day moving average.

The lean hog complex got back to trading lower as the market remains nervous to trade any higher following the substantial gains made last week. Given that the market is just days away from Christmas, it's likely that a slower, lower trend could develop in the lean hog complex.

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By: NATHAN STUEDLEGRAINS:March corn closed up 4 cents and May corn was up 3 1/4 cents. January soybeans closed down 4 1/2 cents and March soybeans were down 3 cents. March KC wheat closed up 2 3/4 cents, March Chicago wheat was down 3 1/4 cents, March Minneapolis wheat was down 3 cents.It was another mixed to bearish session for U.S. row crops on Wednesday as South American weather bears continue to lead liquidation efforts in the soybean complex, although prices ultimately found interested buyers over the last couple of hours of trade and are oversold from a technical viewpoint. Meanwhile, corn futures found support when March prices fell below the 100-day moving average on Tuesday, rebounding to recapture those losses Wednesday. Wheat markets in the meanwhile fell to new lows in Chicago and Minneapolis. Energy markets turned higher from early 2021 lows set on Tuesday, going largely ignored in the ag sector other than positive influence on corn futures, especially following a mostly positive weekly ethanol report from the Energy Information Administration (EIA). Equities were again weaker on Wednesday as well on profit-taking following last week's surge to a new record for the Dow Jones Industrial Average.LIVESTOCK:After rallying throughout Tuesday's trade, the live cattle complex has again settled to trade lower as the resistance at the market's 100-day moving average simply remains too stiff of a barrier to challenge at this point. Are you seeing the trend in the market right now? One day the market rallies and trades higher, but then on the next day, it steps lower as traders don't believe that either they possess enough support or that it's the right time to challenge the market's resistance. Either way, the complex is trading merely steady, holding a position just below the 100-day moving average. No cash cattle trade has developed yet. Boxed beef prices are lower: choice down $1.96 ($356.92) and select down $0.26 ($348.84) with a movement of 91 loads (72.72 loads of choice, 7.09 loads of select, zero loads of trim and 11.61 loads of ground beef).After closing above the market's resistance at its 100-day moving average, the feeder cattle complex is tradeda tick lower into Wednesday's close. The market still remains above that threshold, which is significant. With the live cattle contracts trading lower, it was not surprising to see the feeder cattle contracts dip back below the market's resistance at its 100-day moving average.The lean hog complex got back to trading lower as the market remains nervous to trade any higher following the substantial gains made last week. Given that the market is just days away from Christmas, it's likely that a slower, lower trend could develop in the lean hog complex.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/17140429/web-closing-markets.mp3">Click HERE for audio</a>

The House of Representatives overwhelmingly passed the Whole Milk for Healthy Kids Act of 2025. The legislation provides schools with the flexibility to offer flavored and unflavored whole and 2% milk options, helping to make sure children get the nutrition they need to grow, thrive, and succeed in the classroom. “I’ve worked for a decade to restore whole milk to our school cafeterias, which have been limiting healthy choices for students, but that changes today,” said bill author GT Thompson of Pennsylvania.

 “Whole milk is an essential building block for a well-rounded and balanced diet, and students should have the option to choose the milk they love.” Gregg Doud, president and CEO of the National Milk Producers Federation, said, “By restoring schools’ ability to serve whole and reduced-fat milk, dairy farmers and their cooperatives can further expand their positive impact in school lunchrooms and provide more nutritious outcomes for the next generation.”  

The House of Representatives overwhelmingly passed the Whole Milk for Healthy Kids Act of 2025. The legislation provides schools with the flexibility to offer flavored and unflavored whole and 2% milk options, helping to make sure children get the nutrition they need to grow, thrive, and succeed in the classroom. “I’ve worked for a decade to restore whole milk to our school cafeterias, which have been limiting healthy choices for students, but that changes today,” said bill author GT Thompson of Pennsylvania. “Whole milk is an essential building block for a well-rounded and balanced diet, and students should have the option to choose the milk they love.” Gregg Doud, president and CEO of the National Milk Producers Federation, said, “By restoring schools’ ability to serve whole and reduced-fat milk, dairy farmers and their cooperatives can further expand their positive impact in school lunchrooms and provide more nutritious outcomes for the next generation.” -NAFB

Whole Milk for Healthy Kids Act awaits presidential signature 

Green Plains Inc. has reached a major operational milestone at its three Nebraska ethanol plants. The company confirmed that biogenic carbon from all three locations is now being captured and permanently stored. The captured emissions are transported by the Trailblazer pipeline and are taken to southeastern Wyoming and injected at Tallgrass’s carbon storage hub, completing an end-to-end carbon capture and sequestration chain. 

The company says this achievement marks an important step for both the company's operations and the broader Nebraska bioeconomy, positioning low-carbon ethanol more competitively in regulated fuel markets. With the capture infrastructure now fully operational, Green Plains plans to advance a broader decarbonization strategy while targeting long-term performance gains. Management views carbon capture as a core lever for future growth in an increasingly carbon-constrained fuel market.

Green Plains Inc. has reached a major operational milestone at its three Nebraska ethanol plants. The company confirmed that biogenic carbon from all three locations is now being captured and permanently stored. The captured emissions are transported by the Trailblazer pipeline and are taken to southeastern Wyoming and injected at Tallgrass’s carbon storage hub, completing an end-to-end carbon capture and sequestration chain. The company says this achievement marks an important step for both the company's operations and the broader Nebraska bioeconomy, positioning low-carbon ethanol more competitively in regulated fuel markets. With the capture infrastructure now fully operational, Green Plains plans to advance a broader decarbonization strategy while targeting long-term performance gains. Management views carbon capture as a core lever for future growth in an increasingly carbon-constrained fuel market.-NAFB

Nebraska ethanol plants reach carbon milestone

March corn closed down 3 1/4 cents and May corn was down 3 1/4 cents. January soybeans closed down 9 cents and March soybeans were down 9 1/2 cents. March KC wheat closed down 7 cents, March Chicago wheat was down 11 1/4 cents, March Minneapolis wheat was down 3 3/4 cents.

Row-crop prices continued to deteriorate from November highs on Tuesday. January soybeans have now given back roughly 70% of market gains from the Sept. 30 low close to the Nov. 17 high close, a frustrating turn of events as bearish traders focus on widespread South American rainfall and begin to bank on another record soybean crop in Brazil for 2026 and the potential for record corn production in Argentina as well. Outside markets for Tuesday leaned negative in regard to influence on ag futures, with crude oil prices sliding yet again and officially setting new lows for 2025 amid high world production and lower perceived geopolitical risk as Russia, Ukraine, and world leaders work toward a peace solution in the Black Sea. Equity markets were also lower on a higher-than-expected unemployment reading for November in Tuesday's report.

The live cattle complex trading softly higher into Tuesday's closing bell as the market is pleased with the continued support of strong beef demand. The market's 100-day moving average remains a stiff resistance threshold for the market and even with the support from higher boxed beef prices, traders don't firmly believe that they have enough support to currently trade above that threshold. No cash cattle trade has developed yet, but asking prices are noted in the South at $233 plus but still remain elusive in the North. Boxed beef prices are higher: choice up $0.78 ($360.24) and select up $1.73 ($349.03) with a movement of 48 loads (33.79 loads of choice, 8.30 loads of select, zero loads of trim and 5.98 loads of ground beef).

The feeder cattle complex was off to a bold start this morning as the market is currently trading above its 100-day moving average in most of the nearby contracts. Fueled by strong buyer demand in the countryside and by the continued support of traders, the market is tiptoeing into territory that hasn't been traded at since late October.

And even with midday pork cutout values a tick lower, the lean hog complex continued to trade higher as traders remain committed to supporting the lean hog market. The market could soften later this week if fundamental support doesn't arise.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/16142313/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed down 3 1/4 cents and May corn was down 3 1/4 cents. January soybeans closed down 9 cents and March soybeans were down 9 1/2 cents. March KC wheat closed down 7 cents, March Chicago wheat was down 11 1/4 cents, March Minneapolis wheat was down 3 3/4 cents.Row-crop prices continued to deteriorate from November highs on Tuesday. January soybeans have now given back roughly 70% of market gains from the Sept. 30 low close to the Nov. 17 high close, a frustrating turn of events as bearish traders focus on widespread South American rainfall and begin to bank on another record soybean crop in Brazil for 2026 and the potential for record corn production in Argentina as well. Outside markets for Tuesday leaned negative in regard to influence on ag futures, with crude oil prices sliding yet again and officially setting new lows for 2025 amid high world production and lower perceived geopolitical risk as Russia, Ukraine, and world leaders work toward a peace solution in the Black Sea. Equity markets were also lower on a higher-than-expected unemployment reading for November in Tuesday's report.LIVESTOCK:The live cattle complex trading softly higher into Tuesday's closing bell as the market is pleased with the continued support of strong beef demand. The market's 100-day moving average remains a stiff resistance threshold for the market and even with the support from higher boxed beef prices, traders don't firmly believe that they have enough support to currently trade above that threshold. No cash cattle trade has developed yet, but asking prices are noted in the South at $233 plus but still remain elusive in the North. Boxed beef prices are higher: choice up $0.78 ($360.24) and select up $1.73 ($349.03) with a movement of 48 loads (33.79 loads of choice, 8.30 loads of select, zero loads of trim and 5.98 loads of ground beef).The feeder cattle complex was off to a bold start this morning as the market is currently trading above its 100-day moving average in most of the nearby contracts. Fueled by strong buyer demand in the countryside and by the continued support of traders, the market is tiptoeing into territory that hasn't been traded at since late October. And even with midday pork cutout values a tick lower, the lean hog complex continued to trade higher as traders remain committed to supporting the lean hog market. The market could soften later this week if fundamental support doesn't arise.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/16142313/web-closing-markets.mp3">Click HERE for audio</a>