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

Row-crop markets held near even for most of the session on Wednesday but still among the highest prices observed in months as traders remain optimistic on commodity demand but at this point are willing to wait for the long anticipated meeting on Thursday between President Trump and President Xi of China before deciding their next round of trades. In outside markets, the Federal Reserve voted Wednesday to cut interest rates by a quarter point in what was an expected move, with further cuts expected in December and again in January. Equity markets extended gains into what have become daily records over the past week on the interest rate news as well as the wide sense of trade optimism across markets.

The live cattle complex&nbsp;was finally trading higher as the market has received confirmation that, although Agriculture Secretary Brooke Rollins spoke with officials in Mexico last Friday, there is no date currently on the table to reopen the border, as New World screwworm remains a concern. This was the bullish news that the market needed to hear to trade higher following last week's catastrophic decline. This positive news helped the spot December live cattle contract turn higher, and thankfully, now the contract is trading back above the market's 100-day moving average. No new trade has developed in the fed cash cattle market, following the light business that developed Monday afternoon. So far this week, there's been some cattle traded in the North at $360, which is $9.00 lower than the previous week's weighted average. There is a chance that if the board continues to trade higher than the fed cash cattle market may see prices better than what was traded on Monday. Asking prices range anywhere from $234 to $240 in the South and are still not established in the North.

The feeder cattle complex saw the headline it needed to see to begin to put fear behind it and again trade higher. Upon receiving confirmation that the US intends to keep its border closed and does not have a date pinned down for when it intends to see the border reopened to allow Mexican cattle to be imported into the U.S., the feeder cattle complex can now again breathe easy.

Pork cutout values may be a tick higher, but the lean hog complex couldn't seem to muster up enough support to really move the contracts higher. The cash market will likely continue to trade lower as packers were extremely aggressive in Tuesday's market and won't likely need many more hogs ahead of the week's end.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/29141310/web-closing-markets-1.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 2 cents and March corn was up 3/4 cents. January soybeans closed down 3/4 cents and March soybeans were down 1 1/2 cents. December KC wheat closed up 2 3/4 cents, December Chicago wheat was up 3 1/4 cents, December Minneapolis wheat was down 1 1/4 cents.Row-crop markets held near even for most of the session on Wednesday but still among the highest prices observed in months as traders remain optimistic on commodity demand but at this point are willing to wait for the long anticipated meeting on Thursday between President Trump and President Xi of China before deciding their next round of trades. In outside markets, the Federal Reserve voted Wednesday to cut interest rates by a quarter point in what was an expected move, with further cuts expected in December and again in January. Equity markets extended gains into what have become daily records over the past week on the interest rate news as well as the wide sense of trade optimism across markets.LIVESTOCK:The live cattle complex&nbsp;was finally trading higher as the market has received confirmation that, although Agriculture Secretary Brooke Rollins spoke with officials in Mexico last Friday, there is no date currently on the table to reopen the border, as New World screwworm remains a concern. This was the bullish news that the market needed to hear to trade higher following last week's catastrophic decline. This positive news helped the spot December live cattle contract turn higher, and thankfully, now the contract is trading back above the market's 100-day moving average. No new trade has developed in the fed cash cattle market, following the light business that developed Monday afternoon. So far this week, there's been some cattle traded in the North at $360, which is $9.00 lower than the previous week's weighted average. There is a chance that if the board continues to trade higher than the fed cash cattle market may see prices better than what was traded on Monday. Asking prices range anywhere from $234 to $240 in the South and are still not established in the North.The feeder cattle complex saw the headline it needed to see to begin to put fear behind it and again trade higher. Upon receiving confirmation that the US intends to keep its border closed and does not have a date pinned down for when it intends to see the border reopened to allow Mexican cattle to be imported into the U.S., the feeder cattle complex can now again breathe easy. Pork cutout values may be a tick higher, but the lean hog complex couldn't seem to muster up enough support to really move the contracts higher. The cash market will likely continue to trade lower as packers were extremely aggressive in Tuesday's market and won't likely need many more hogs ahead of the week's end.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/29141310/web-closing-markets-1.mp3">Click HERE for audio</a>

Commodity markets daily recap

South Dakota Senator Mike Rounds met recently with President Donald Trump and Secretary of Agriculture Brooke Rollins to discuss the president’s plan to import some beef from Argentina. Rounds said they agreed the U.S. needs an America First game plan that prioritizes American farmers and ranchers. Following the meeting, Rounds said he was encouraged by the president’s desire to do right by the American producer. Opening the market to even more foreign beef, which American consumers cannot differentiate because of current labeling rules, would only exacerbate the problem and hurt domestic producers. 

Implementing Mandatory Country-of-Origin Labeling would empower consumers to choose, but instead it “continues to sit on the shelf gathering dust.” Rounds said the Packers and Stockyards Act continues to be ignored, as four companies – two of which are Brazilian-owned – monopolize the beef processing market. He said that the issue cannot be resolved by displacing American beef with foreign beef. 

South Dakota Senator Mike Rounds met recently with President Donald Trump and Secretary of Agriculture Brooke Rollins to discuss the president’s plan to import some beef from Argentina. Rounds said they agreed the U.S. needs an America First game plan that prioritizes American farmers and ranchers. Following the meeting, Rounds said he was encouraged by the president’s desire to do right by the American producer. Opening the market to even more foreign beef, which American consumers cannot differentiate because of current labeling rules, would only exacerbate the problem and hurt domestic producers. Implementing Mandatory Country-of-Origin Labeling would empower consumers to choose, but instead it “continues to sit on the shelf gathering dust.” Rounds said the Packers and Stockyards Act continues to be ignored, as four companies – two of which are Brazilian-owned – monopolize the beef processing market. He said that the issue cannot be resolved by displacing American beef with foreign beef. -NAFB

Packers and Stockyards Act being ignored

As farmers continue navigating a period of tight margins and volatile markets, The Fertilizer Institute is urging policymakers to focus on practical solutions. TFI president and CEO Corey Rosenbusch said the solutions need to strengthen U.S. agriculture, expand markets for producers, and ensure farmers have access to fertilizer exactly when and where it’s needed. “America’s farmers are the most productive in the world, and we’re proud to stand with them through the challenging market conditions we are experiencing as global factors continue driving fertilizer costs,” Rosenbusch said. 

TFI listed a number of steps to accomplish its goals, including advancing a national policy to expand domestic fertilizer production, appointing a full-time USDA Fertilizer Economist to monitor market dynamics, and streamlining federal permitting and regulatory reviews to accelerate construction and modernization of fertilizer plants, mines, and infrastructure. “The input industries like fertilizer and seed all rely on strong, stable farm demand,” Rosenbusch added. 

As farmers continue navigating a period of tight margins and volatile markets, The Fertilizer Institute is urging policymakers to focus on practical solutions. TFI president and CEO Corey Rosenbusch said the solutions need to strengthen U.S. agriculture, expand markets for producers, and ensure farmers have access to fertilizer exactly when and where it’s needed. “America’s farmers are the most productive in the world, and we’re proud to stand with them through the challenging market conditions we are experiencing as global factors continue driving fertilizer costs,” Rosenbusch said. TFI listed a number of steps to accomplish its goals, including advancing a national policy to expand domestic fertilizer production, appointing a full-time USDA Fertilizer Economist to monitor market dynamics, and streamlining federal permitting and regulatory reviews to accelerate construction and modernization of fertilizer plants, mines, and infrastructure. “The input industries like fertilizer and seed all rely on strong, stable farm demand,” Rosenbusch added. -NAFB

Fertilizer Institute Wants Policy to Strengthen Input Supplies

December corn closed up 3 1/4 cents and March corn was up 1 3/4 cents. November soybeans closed up 11 cents and January soybeans were up 10 1/4 cents. December KC wheat closed up 5 3/4 cents, December Chicago wheat was up 3 cents, December Minneapolis wheat was up 1 1/2 cents.

President Trump finalized a deal with Japan during his visit to the country on Monday afternoon, adding fuel to the already surging row crop markets. Japan is already a significant buyer of U.S. ag products and the agreement keeps market participants optimistic that the relationship will continue to grow in terms of volumes traded. Meanwhile, energy prices have worked lower thus far this week, retesting support following last week's Russia sanction driven jump. Equity markets are higher primarily on trade optimism, as investors will turn their attention to the Federal Reserve on Wednesday for their interest rate decision, which is widely expected to be another quarter point cut.

The live cattle complex found just a smidgen of stability in Tuesday's market, as traders let the contracts trade mildly higher for portions of the session. Meanwhile, the turmoil that's shaken the cattle complex to its core is still rattling the fed cash cattle market as bids are on the table early this morning, and packers were able to get some cattle bought Monday afternoon. Asking prices are noted at $240 plus in the South but are still not established in the North. A light trade was reported by Mandatory in the North yesterday, with dressed deals showing a rather wide range of $355 to $360.

The live cattle complex may have traded higher for portions of the session, but the feeder cattle market was still trading sharply lower as the market is unsettled and uneasy without knowing what happened between Agriculture Secretary Brooke Rollins and Mexican officials in their meeting last Friday. Unfortunately, until some answers are provided or some clarity develops, it's unlikely that the market is going to trade anything but lower.

The lean hog complex continued to trade lower as the market is still disappointed in the lack of support it's seeing from consumers. And until traders see more support develop, a steady/somewhat lower trend is most likely.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/28142302/web-closing-markets-1.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 3 1/4 cents and March corn was up 1 3/4 cents. November soybeans closed up 11 cents and January soybeans were up 10 1/4 cents. December KC wheat closed up 5 3/4 cents, December Chicago wheat was up 3 cents, December Minneapolis wheat was up 1 1/2 cents.President Trump finalized a deal with Japan during his visit to the country on Monday afternoon, adding fuel to the already surging row crop markets. Japan is already a significant buyer of U.S. ag products and the agreement keeps market participants optimistic that the relationship will continue to grow in terms of volumes traded. Meanwhile, energy prices have worked lower thus far this week, retesting support following last week's Russia sanction driven jump. Equity markets are higher primarily on trade optimism, as investors will turn their attention to the Federal Reserve on Wednesday for their interest rate decision, which is widely expected to be another quarter point cut.LIVESTOCK:The live cattle complex found just a smidgen of stability in Tuesday's market, as traders let the contracts trade mildly higher for portions of the session. Meanwhile, the turmoil that's shaken the cattle complex to its core is still rattling the fed cash cattle market as bids are on the table early this morning, and packers were able to get some cattle bought Monday afternoon. Asking prices are noted at $240 plus in the South but are still not established in the North. A light trade was reported by Mandatory in the North yesterday, with dressed deals showing a rather wide range of $355 to $360.The live cattle complex may have traded higher for portions of the session, but the feeder cattle market was still trading sharply lower as the market is unsettled and uneasy without knowing what happened between Agriculture Secretary Brooke Rollins and Mexican officials in their meeting last Friday. Unfortunately, until some answers are provided or some clarity develops, it's unlikely that the market is going to trade anything but lower.The lean hog complex continued to trade lower as the market is still disappointed in the lack of support it's seeing from consumers. And until traders see more support develop, a steady/somewhat lower trend is most likely.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/28142302/web-closing-markets-1.mp3">Click HERE for audio</a>

Rabobank says food inflation continues to outpace overall inflation, and restaurants feel the pressure of nine straight quarters of declining traffic, but some chains are bucking the trend and growing in visits and spending. U.S. retail beef prices continue rising, with the USDA’s all-fresh beef price reaching a record $9.18 per pound in August. U.S. cattle slaughter from January through September is down 1.5 million head, a seven percent drop compared to the same period last year. 

Pork prices are still well ahead of year-ago levels and the five-year average, with cutout values of $109 per hundredweight averaging 15 percent above last year. Chicken production also continues to outpace year-ago levels, and chicken prices have also come down sharply in recent weeks. August milk production increased 3.2 percent versus last year, and at 9.52 million cows, the herd is the largest it’s been since the mid-1990s. July dairy exports were up seven percent year-over-year.

Rabobank says food inflation continues to outpace overall inflation, and restaurants feel the pressure of nine straight quarters of declining traffic, but some chains are bucking the trend and growing in visits and spending. U.S. retail beef prices continue rising, with the USDA’s all-fresh beef price reaching a record $9.18 per pound in August. U.S. cattle slaughter from January through September is down 1.5 million head, a seven percent drop compared to the same period last year. Pork prices are still well ahead of year-ago levels and the five-year average, with cutout values of $109 per hundredweight averaging 15 percent above last year. Chicken production also continues to outpace year-ago levels, and chicken prices have also come down sharply in recent weeks. August milk production increased 3.2 percent versus last year, and at 9.52 million cows, the herd is the largest it’s been since the mid-1990s. July dairy exports were up seven percent year-over-year.-NAFB

Rabobank: Food inflation outpacing overall inflation

President Donald Trump and his administration have signed trade deals with Malaysia and Cambodia,  with the Malaysian portion having an enormous economic potential for America’s pork producers. “We’re grateful to the president for increasing market access for U.S. pork to Malaysia, a country that’s been importing pork despite limited plants being eligible for export,” said NPPC President Duane Stateler. “More than 25 percent of U.S. pork production gets exported, so producers count on exports to help keep their farms afloat, especially in times of uncertainty.” 

The deal with Malaysia will open access to all U.S. facilities included in the Food Safety and Inspection Service Meat, Poultry, and Egg Inspection Directory. Pork exports to Malaysia hit record levels of over $24.5 million in 2024, a significant amount given that only eight U.S. plants are currently eligible for export. Exports to Malaysia have increased by over 1,700 percent in the last five years. 

President Donald Trump and his administration have signed trade deals with Malaysia and Cambodia, with the Malaysian portion having an enormous economic potential for America’s pork producers. “We’re grateful to the president for increasing market access for U.S. pork to Malaysia, a country that’s been importing pork despite limited plants being eligible for export,” said NPPC President Duane Stateler. “More than 25 percent of U.S. pork production gets exported, so producers count on exports to help keep their farms afloat, especially in times of uncertainty.” The deal with Malaysia will open access to all U.S. facilities included in the Food Safety and Inspection Service Meat, Poultry, and Egg Inspection Directory. Pork exports to Malaysia hit record levels of over $24.5 million in 2024, a significant amount given that only eight U.S. plants are currently eligible for export. Exports to Malaysia have increased by over 1,700 percent in the last five years. -NAFB

U.S. pork industry gets good news 

U.S. President Donald Trump announced an immediate end to trade negotiations with Canada late Thursday night. The Guardian said it’s a result of Trump’s opposition to a TV ad from Canada that quoted former president Ronald Reagan. The provincial government of Ontario paid for the ad, which uses excerpts from a 1987 speech where the former president said, “Trade barriers hurt every American worker.” 

Trump posted on social media that Canada had “fraudulently” used an advertisement which he called “fake,” and accused Canada of trying to interfere with U.S. court decisions on the tariffs. Secretary of State Marco Rubio confirmed that all trade negotiations have been suspended indefinitely. Trump also claimed that the ad was intended to influence the upcoming U.S. Supreme Court hearings on the legality of his global tariffs. Those hearings begin on November 5. The ad also quoted Reagan as saying, “The way to prosperity is working together.” 

U.S. President Donald Trump announced an immediate end to trade negotiations with Canada late Thursday night. The Guardian said it’s a result of Trump’s opposition to a TV ad from Canada that quoted former president Ronald Reagan. The provincial government of Ontario paid for the ad, which uses excerpts from a 1987 speech where the former president said, “Trade barriers hurt every American worker.” Trump posted on social media that Canada had “fraudulently” used an advertisement which he called “fake,” and accused Canada of trying to interfere with U.S. court decisions on the tariffs. Secretary of State Marco Rubio confirmed that all trade negotiations have been suspended indefinitely. Trump also claimed that the ad was intended to influence the upcoming U.S. Supreme Court hearings on the legality of his global tariffs. Those hearings begin on November 5. The ad also quoted Reagan as saying, “The way to prosperity is working together.” -NAFB

Trump terminates trade talks with Canada

In a misguided effort to lower beef prices in U.S. grocery stores, President Trump plans to increase the volume of beef imports from Argentina. The National Cattlemen’s Beef Association said efforts to manipulate markets only risk damaging the livelihoods of American producers while doing little to impact what consumers pay at the grocery store. “The U.S. already faces a deep trade imbalance with Argentina, and it will only be made worse by the President’s plan,” said NCBA CEO Colin Woodall.

 “During the past five years, Argentina has shipped more than $800 million worth of beef to the U.S., while purchasing only $7 million worth of U.S. beef.” As if that’s not enough, Argentina as a nation has a long history of foot-and-mouth disease outbreaks, and Woodall said USDA hasn’t completed the necessary steps to ensure Argentina can guarantee the safety of products being shipped here, further endangering America’s cattle herd. 

In a misguided effort to lower beef prices in U.S. grocery stores, President Trump plans to increase the volume of beef imports from Argentina. The National Cattlemen’s Beef Association said efforts to manipulate markets only risk damaging the livelihoods of American producers while doing little to impact what consumers pay at the grocery store. “The U.S. already faces a deep trade imbalance with Argentina, and it will only be made worse by the President’s plan,” said NCBA CEO Colin Woodall. “During the past five years, Argentina has shipped more than $800 million worth of beef to the U.S., while purchasing only $7 million worth of U.S. beef.” As if that’s not enough, Argentina as a nation has a long history of foot-and-mouth disease outbreaks, and Woodall said USDA hasn’t completed the necessary steps to ensure Argentina can guarantee the safety of products being shipped here, further endangering America’s cattle herd. -NAFB

U.S. already faces trade imbalance with Argentina

December corn closed up 5 cents and March corn was up 5 1/2 cents. November soybeans closed up 10 cents and January soybeans were up 12 cents. December KC wheat closed up 11 1/2 cents, December Chicago wheat was up 9 1/4 cents, December Minneapolis wheat was up 10 1/4 cents.

Corn, soybean, and wheat markets all enjoyed higher sessions for Thursday, with the wheat market taking a rare position as the daily leader, as sub-$5.00 prices for nearby Kansas City futures may finally be incentivizing some short covering amongst traders. Meanwhile, U.S. and Chinese officials are set to meet in Malaysia this weekend to hopefully set the stage for the long-anticipated meeting between Presidents Trump and Xi at the end of the month. Outside markets for Thursday were very supportive of Ag futures, especially from an energies standpoint, with crude oil futures launching higher on fresh U.S. sanctions against Russia's biggest oil producers.

Now that the live cattle industry has had time to see and absorb Agriculture Secretary Brooke Rollins plan to revitalize the U.S. beef herd, the market was back to trading higher as traders and industry experts saw no real issue with the proposal. There are some bids beginning to hit the market as packers have offered $238 live in Nebraska and $370 dressed in Nebraska. But at this time, no major sales have been reported. Asking prices are still not established in the North but are now listed in the South at $243 plus. Packer interest could improve later this afternoon, but it's most likely that trade is delayed until Friday as feedlot managers are going to try to see prices trade higher again this week.

The feeder cattle complex is still trading sorely lower, as it remains uneasy with the cattle complex being a hot ticket item this week for the President. The spot November contract is nearing the market's 40-day moving average, which would be a bad threshold to cross for the market as it could signal more downward pressure.

With pork cutout values lower again today, it comes as no real surprise that the lean hog complex is trading lower yet again. Unfortunately, it's most likely that the market will continue to trade sideways/somewhat lower throughout the remainder of the week as support is expected to significantly change ahead of the week's end.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/23135446/web-closing-markets-1.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 5 cents and March corn was up 5 1/2 cents. November soybeans closed up 10 cents and January soybeans were up 12 cents. December KC wheat closed up 11 1/2 cents, December Chicago wheat was up 9 1/4 cents, December Minneapolis wheat was up 10 1/4 cents.Corn, soybean, and wheat markets all enjoyed higher sessions for Thursday, with the wheat market taking a rare position as the daily leader, as sub-$5.00 prices for nearby Kansas City futures may finally be incentivizing some short covering amongst traders. Meanwhile, U.S. and Chinese officials are set to meet in Malaysia this weekend to hopefully set the stage for the long-anticipated meeting between Presidents Trump and Xi at the end of the month. Outside markets for Thursday were very supportive of Ag futures, especially from an energies standpoint, with crude oil futures launching higher on fresh U.S. sanctions against Russia's biggest oil producers.LIVESTOCK:Now that the live cattle industry has had time to see and absorb Agriculture Secretary Brooke Rollins plan to revitalize the U.S. beef herd, the market was back to trading higher as traders and industry experts saw no real issue with the proposal. There are some bids beginning to hit the market as packers have offered $238 live in Nebraska and $370 dressed in Nebraska. But at this time, no major sales have been reported. Asking prices are still not established in the North but are now listed in the South at $243 plus. Packer interest could improve later this afternoon, but it's most likely that trade is delayed until Friday as feedlot managers are going to try to see prices trade higher again this week.The feeder cattle complex is still trading sorely lower, as it remains uneasy with the cattle complex being a hot ticket item this week for the President. The spot November contract is nearing the market's 40-day moving average, which would be a bad threshold to cross for the market as it could signal more downward pressure.With pork cutout values lower again today, it comes as no real surprise that the lean hog complex is trading lower yet again. Unfortunately, it's most likely that the market will continue to trade sideways/somewhat lower throughout the remainder of the week as support is expected to significantly change ahead of the week's end.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/23135446/web-closing-markets-1.mp3">Click HERE for audio</a>

For the past year, the drumbeat across cattle country has been lower herd numbers, market fluctuations and rising input costs. Total beef supply tightened by 3% and beef retail prices climbed to an average of $8 per pound. Yet consumer demand for beef surged to a 40-year high. Despite the challenges, Certified Angus Beef (CAB) sales reached 1.235 billion pounds globally, marking it one of the brand’s strongest years in history. 

“The brand’s success this year is the direct result of the hard work and innovation across our entire beef community,” says John Stika, CAB president. “It’s their intentional efforts to win with Certified Angus Beef year in and year out that have allowed this brand to thrive over 47 years.” This year marks the brand’s third-best year, with a record-setting month in November and the brand’s all-time best sales month in March. April and May followed with strength heading into grilling season, landing in the brand’s top 10 for monthly sales.

For the past year, the drumbeat across cattle country has been lower herd numbers, market fluctuations and rising input costs. Total beef supply tightened by 3% and beef retail prices climbed to an average of $8 per pound. Yet consumer demand for beef surged to a 40-year high. Despite the challenges, Certified Angus Beef (CAB) sales reached 1.235 billion pounds globally, marking it one of the brand’s strongest years in history. “The brand’s success this year is the direct result of the hard work and innovation across our entire beef community,” says John Stika, CAB president. “It’s their intentional efforts to win with Certified Angus Beef year in and year out that have allowed this brand to thrive over 47 years.” This year marks the brand’s third-best year, with a record-setting month in November and the brand’s all-time best sales month in March. April and May followed with strength heading into grilling season, landing in the brand’s top 10 for monthly sales.-NAFB

Despite challenges, beef demand at 40-Year high

The American Petroleum Institute (API) on Tuesday urged congressional leadership to adopt a more balanced and up-to-date approach to E15 legislation, warning the current proposal no longer reflects today's fuel market realities. In a letter to Senate Majority Leader John Thune, Senate Minority Leader Charles Schumer, Speaker of the House Mike Johnson and House Minority Leader Hakeem Jeffries, API President and CEO Mike Sommers said sweeping changes to federal biofuel policy, state volatility mandates, and market conditions have upended the fuels landscape, prompting API to oppose the Nationwide Consumer and Fuel Retailer Choice Act of 2025 in its current form. 

The letter details how recent changes to federal tax rules, EPA decisions, and state-level policy reversals have imposed new costs on refiners and disrupted the fuels marketplace. Sommers urged lawmakers to pursue a holistic and balanced approach to E15 that supports consumer choice while maintaining reliable, affordable fuel supply. 

The American Petroleum Institute (API) on Tuesday urged congressional leadership to adopt a more balanced and up-to-date approach to E15 legislation, warning the current proposal no longer reflects today's fuel market realities. In a letter to Senate Majority Leader John Thune, Senate Minority Leader Charles Schumer, Speaker of the House Mike Johnson and House Minority Leader Hakeem Jeffries, API President and CEO Mike Sommers said sweeping changes to federal biofuel policy, state volatility mandates, and market conditions have upended the fuels landscape, prompting API to oppose the Nationwide Consumer and Fuel Retailer Choice Act of 2025 in its current form. The letter details how recent changes to federal tax rules, EPA decisions, and state-level policy reversals have imposed new costs on refiners and disrupted the fuels marketplace. Sommers urged lawmakers to pursue a holistic and balanced approach to E15 that supports consumer choice while maintaining reliable, affordable fuel supply. -NAFB

API calls for balanced E15 policy amid shifting market realities

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

Row crop futures were mostly higher on Wednesday in a very quiet session for the most part, with prices recovering from a brief pause in the bounce seen on Tuesday. A combination of easing harvest pressure and strong demand ideas is keeping markets well supported, although significant technical challenges await just above current prices. Outside markets leaned mostly positive, with a softer U.S. Dollar and firmer energy markets.

It was a dismal day for the live cattle complex as the market saw little fundamental support arise in the marketplace this week to help assure traders that they should confidently push the contracts back higher. Not to mention, the market seems to be sitting on its hands waiting for Agriculture Secretary Brooke Rollins to share more details about what the Trump administration plans to do to restore and revitalize the beef cow herd in America. Her announcement is expected to come sometime later this week. There's been nothing to develop yet in the fed cash cattle market, although it is assumed that again this week, prices will trade steady if not a little higher. Yes, packers were able to secure a sizeable volume just last week, but the fact remains that the market is only going to see supplies tighten through the remainder of 2025 and into 2026.

The live cattle complex may have traded lower, but the feeder cattle market has completely rocked back on its heels, seeming to grit its teeth until there's more clarity on what US Ag Secretary Brooke Rollins has to say. The feeder cattle complex has seen all-time, record-breaking prices within the last year as limited supplies have forced feedlots to bid more aggressively for calves and feeders. More than anything, the feeder cattle complex seems unhinged as the market is concerned that the plan could negatively affect these historic prices.

The lean hog complex continued to trade mixed as the nearby contracts need to see more immediate fundamental support before traders will confidently advance any of those contracts, but the deferred months traded higher, as traders believe that support should increase when supplies tighten in the coming months. Yes, pork cutout values were up this morning, but traders need to see more than one day's worth of higher trade before they'll feel supported.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/22135439/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 3 1/4 cents and March corn was up 2 cents. November soybeans closed up 4 cents and January soybeans were up 1 1/2 cents. December KC wheat closed up 3 1/2 cents, December Chicago wheat was up 3 1/2 cents, December Minneapolis wheat was up 3 cents.Row crop futures were mostly higher on Wednesday in a very quiet session for the most part, with prices recovering from a brief pause in the bounce seen on Tuesday. A combination of easing harvest pressure and strong demand ideas is keeping markets well supported, although significant technical challenges await just above current prices. Outside markets leaned mostly positive, with a softer U.S. Dollar and firmer energy markets.LIVESTOCK:It was a dismal day for the live cattle complex as the market saw little fundamental support arise in the marketplace this week to help assure traders that they should confidently push the contracts back higher. Not to mention, the market seems to be sitting on its hands waiting for Agriculture Secretary Brooke Rollins to share more details about what the Trump administration plans to do to restore and revitalize the beef cow herd in America. Her announcement is expected to come sometime later this week. There's been nothing to develop yet in the fed cash cattle market, although it is assumed that again this week, prices will trade steady if not a little higher. Yes, packers were able to secure a sizeable volume just last week, but the fact remains that the market is only going to see supplies tighten through the remainder of 2025 and into 2026.The live cattle complex may have traded lower, but the feeder cattle market has completely rocked back on its heels, seeming to grit its teeth until there's more clarity on what US Ag Secretary Brooke Rollins has to say. The feeder cattle complex has seen all-time, record-breaking prices within the last year as limited supplies have forced feedlots to bid more aggressively for calves and feeders. More than anything, the feeder cattle complex seems unhinged as the market is concerned that the plan could negatively affect these historic prices.The lean hog complex continued to trade mixed as the nearby contracts need to see more immediate fundamental support before traders will confidently advance any of those contracts, but the deferred months traded higher, as traders believe that support should increase when supplies tighten in the coming months. Yes, pork cutout values were up this morning, but traders need to see more than one day's worth of higher trade before they'll feel supported.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/22135439/web-closing-markets.mp3">Click HERE for audio</a>

Groups like the National Cattlemen’s Beef Association have expressed significant concerns about President Donald Trump’s plan to buy beef from Argentina to lower the price of beef for U.S. consumers. “Argentina has a history of Foot and Mouth Disease,” said NCBA CEO Colin Woodall. “Consumer demand remains strong because of the work producers have done to improve the quality and safety of U.S. beef.” Rob Larew, president of the National Farmers Union, said lowering beef prices for consumers starts with restoring fairness in the marketplace. 

“Plus, the White House bailed out Argentina with $40 billion in taxpayer-backed aid, and Argentina responded by striking new deals to sell soybeans to China.” American Farm Bureau President Zippy Duvall said adverse weather and low cattle prices drove herd numbers to levels not seen in decades. “Weaker cattle prices are the last thing needed in farm country as farmers consider investing to rebuild their herds,” Duvall said.  

Groups like the National Cattlemen’s Beef Association have expressed significant concerns about President Donald Trump’s plan to buy beef from Argentina to lower the price of beef for U.S. consumers. “Argentina has a history of Foot and Mouth Disease,” said NCBA CEO Colin Woodall. “Consumer demand remains strong because of the work producers have done to improve the quality and safety of U.S. beef.” Rob Larew, president of the National Farmers Union, said lowering beef prices for consumers starts with restoring fairness in the marketplace. “Plus, the White House bailed out Argentina with $40 billion in taxpayer-backed aid, and Argentina responded by striking new deals to sell soybeans to China.” American Farm Bureau President Zippy Duvall said adverse weather and low cattle prices drove herd numbers to levels not seen in decades. “Weaker cattle prices are the last thing needed in farm country as farmers consider investing to rebuild their herds,” Duvall said. -NAFB

Groups react to beef imports from Argentina

The National Corn Growers Association is pointing to California as an example of what could be achieved around the country after the state enacted a law extending access to E15 fuels. It’s estimated that if consumers had been able to access E15 in California during 2025, it would have created a demand for close to 250 million additional bushels of corn, which would represent 12 percent of the expected excess corn supply this year. 

“The sheer buying power of the millions of people on the road in California promises to increase demand for corn in ethanol, which is good news for the nation’s corn growers,” said NCGA President Joe Bower. “Now we want to see Congress act to extend access to year-round E15 to every state in the country.” He added that “Farmers see what’s possible with California’s new law, and it’s time for Congress to follow suit.”

The National Corn Growers Association is pointing to California as an example of what could be achieved around the country after the state enacted a law extending access to E15 fuels. It’s estimated that if consumers had been able to access E15 in California during 2025, it would have created a demand for close to 250 million additional bushels of corn, which would represent 12 percent of the expected excess corn supply this year. “The sheer buying power of the millions of people on the road in California promises to increase demand for corn in ethanol, which is good news for the nation’s corn growers,” said NCGA President Joe Bower. “Now we want to see Congress act to extend access to year-round E15 to every state in the country.” He added that “Farmers see what’s possible with California’s new law, and it’s time for Congress to follow suit.”-NAFB

California E15 mandate good for the U.S.

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

Ag futures took a breather following a strong four day run up in prices as traders are content at this point to pause and reevaluate positions ahead of the end of U.S. harvest and the upcoming trade meeting between President Trump and President Xi of China. Technical resistance in the row crop markets likely also played a role in incentivizing some selling on Tuesday. For outside markets, the most notable storyline for Tuesday was the sudden and volatile reversal in gold futures, reported by the Wall Street Journal to be among the largest single day loss in over a decade, just one session removed from setting yet another record high as profit-taking seemed to morph into compounding fear induced selling as the session wore on. This was a source of widespread pressure on commodities for Tuesday, and agricultural markets were no exception.

Although the live cattle complex originally started the day off weaker, the market changed its direction and again traded higher into the day's closing bell. The market continues to recover some of the position lost last Friday as traders believe that the market's fundamentals will continue to support the market's bullish underpinning. Still no developments have occurred in the fed cash cattle market, and trade will likely be delayed until the second half of the week.

The feeder cattle complex also traded higher into Tuesday's close, but the market isn't doing so wildly. The feeder cattle contracts were trading around $1.00 higher throughout most of the contracts, through most of the session, seeming to keep right in line with the live cattle market's pace, but not storming $3.00 to $5.00 higher like the contracts did just a couple of weeks ago. More than anything, traders seem to respect and acknowledge the strong fundamental position, but at the same time, they see and are keenly aware of the technical risk that lingers.

The lean hog complex was trading higher as well into Tuesday's close, as the market is potentially finding somewhat of a bottom in the futures complex. After trailing mostly lower since late September, the lean hog complex could be establishing a support plane.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/21140541/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed down 3 1/2 cents and March corn was down 3 1/4 cents. November soybeans closed down 1 cent and January soybeans were down 1 1/2 cents. December KC wheat closed down 5 cents, December Chicago wheat was down 4 1/2 cents, December Minneapolis wheat was down 3 3/4 cents.Ag futures took a breather following a strong four day run up in prices as traders are content at this point to pause and reevaluate positions ahead of the end of U.S. harvest and the upcoming trade meeting between President Trump and President Xi of China. Technical resistance in the row crop markets likely also played a role in incentivizing some selling on Tuesday. For outside markets, the most notable storyline for Tuesday was the sudden and volatile reversal in gold futures, reported by the Wall Street Journal to be among the largest single day loss in over a decade, just one session removed from setting yet another record high as profit-taking seemed to morph into compounding fear induced selling as the session wore on. This was a source of widespread pressure on commodities for Tuesday, and agricultural markets were no exception.LIVESTOCK:Although the live cattle complex originally started the day off weaker, the market changed its direction and again traded higher into the day's closing bell. The market continues to recover some of the position lost last Friday as traders believe that the market's fundamentals will continue to support the market's bullish underpinning. Still no developments have occurred in the fed cash cattle market, and trade will likely be delayed until the second half of the week.The feeder cattle complex also traded higher into Tuesday's close, but the market isn't doing so wildly. The feeder cattle contracts were trading around $1.00 higher throughout most of the contracts, through most of the session, seeming to keep right in line with the live cattle market's pace, but not storming $3.00 to $5.00 higher like the contracts did just a couple of weeks ago. More than anything, traders seem to respect and acknowledge the strong fundamental position, but at the same time, they see and are keenly aware of the technical risk that lingers. The lean hog complex was trading higher as well into Tuesday's close, as the market is potentially finding somewhat of a bottom in the futures complex. After trailing mostly lower since late September, the lean hog complex could be establishing a support plane. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/21140541/web-closing-markets.mp3">Click HERE for audio</a>

The government shutdown and resulting absence of USDA data has left a big void in the volatile grain and oilseed markets. In order to fill the gap, Farm Journal conducted a survey to get an update on yields and harvest progress as well as other topics on the minds of producers. The biggest takeaway is that U.S. corn yields are estimated to be lower compared with USDA’s September estimates in six of the seven Pro Farmer Crop Tour states. 

Due to disease pressure and dry weather, the 2025 national yield could be lower than the 2024 average of 179.3 bushels. As of mid-October, yields are steady to lower for 74 percent of the respondents from the Crop Tour states. That’s a long way from the higher production for each state’s estimate in USDA’s September Crop Production Report. The biggest decline appears to be in Illinois, down seven percent from September. 

The government shutdown and resulting absence of USDA data has left a big void in the volatile grain and oilseed markets. In order to fill the gap, Farm Journal conducted a survey to get an update on yields and harvest progress as well as other topics on the minds of producers. The biggest takeaway is that U.S. corn yields are estimated to be lower compared with USDA’s September estimates in six of the seven Pro Farmer Crop Tour states. Due to disease pressure and dry weather, the 2025 national yield could be lower than the 2024 average of 179.3 bushels. As of mid-October, yields are steady to lower for 74 percent of the respondents from the Crop Tour states. That’s a long way from the higher production for each state’s estimate in USDA’s September Crop Production Report. The biggest decline appears to be in Illinois, down seven percent from September. -NAFB

Farm Journal survey says corn yields are decreasing

A new report from Mizhuo investment bank said potash and phosphate fell last week, while nitrogen was mostly unchanged. The price of potash in New Orleans fell about 1.5 percent to $328 per ton, while Midwest costs declined 0.7 percent to $373 a ton. The report said phosphate prices dropped slightly to $851 a ton. “Phosphate affordability is at its lowest level since 2008, and continues to raise concerns about demand referral and destruction,” the report said. 

Nitrogen prices were mostly unchanged last week at about $376 a ton in New Orleans and $435 per ton in the Midwest. “Supply disruptions and delays in capacities coming online have led to higher ammonia prices, with the benchmark Tampa price recently settled up $40 in October following a $53-per-metric-ton increase in September." Despite some volatility and recent declines, overall fertilizer prices are still considered high compared to long-term averages.

A new report from Mizhuo investment bank said potash and phosphate fell last week, while nitrogen was mostly unchanged. The price of potash in New Orleans fell about 1.5 percent to $328 per ton, while Midwest costs declined 0.7 percent to $373 a ton. The report said phosphate prices dropped slightly to $851 a ton. “Phosphate affordability is at its lowest level since 2008, and continues to raise concerns about demand referral and destruction,” the report said. Nitrogen prices were mostly unchanged last week at about $376 a ton in New Orleans and $435 per ton in the Midwest. “Supply disruptions and delays in capacities coming online have led to higher ammonia prices, with the benchmark Tampa price recently settled up $40 in October following a $53-per-metric-ton increase in September." Despite some volatility and recent declines, overall fertilizer prices are still considered high compared to long-term averages.-NAFB

Weekly phosphate, potash prices fall

December corn closed up 3/4 of a cent and March corn was up 1 cent. November soybeans closed up 8 3/4 cents and January soybeans were up 8 1/4 cents. December KC wheat closed up 2 3/4 cents, December Chicago wheat was up 1 1/4 cents, December Minneapolis wheat was down 1 cent.

December corn closed up 9 1/2 cents and March corn was up 7 1/2 cents. November soybeans closed up 12 3/4 cents and January soybeans were up 13 1/2 cents. December KC wheat closed up 8 1/2 cents, December Chicago wheat was up 5 1/4 cents and December Minneapolis wheat was down 3 1/4 cents.

Corn, soy, and wheat markets continued their weekly recovery efforts, gaining back losses from last week's trade-war-induced selloff. President Trump said early Friday he still plans to meet with China's President Xi in South Korea at the end of the month, ahead of a Nov. 1 target date to potentially raise tariffs against China in response to recent restrictions imposed on rare-earth exports by China. This is providing some optimism to traders that, as was the case through the summer, an extension of the previous "trade truce" will be achieved, although how soybeans and other key ag exports will fare in any such agreement remains in the balance. Stock indices were higher following the president's comments, while higher gasoline and diesel prices for Friday also supported corn and soy futures.

It was a tumultuous session for the live cattle complex, as the market opened in a panicked manner, as on Thursday afternoon, President Trump shared that the administration is going to do something about beef prices being too high. Although no specific details have been shared just yet, there's a belief that some sort of deal could have been done with Argentina, as President Trump just met with their President, Javier Milei, at the White House. This comes at such an un-opportunistic time as the fed cash cattle market is trading anywhere from $5.00 to $9.00 higher, which should have a bolstering effect on the market, but this looming news has clouded that positive fundamental achievement. This news development has been gut-wrenching for the market as the cattle complex was just in the middle of adding another record-breaking high to the complex's already impressive rally, but this development has completely shaken the complex.

It comes as no real surprise that the news from President Trump about a potential fix on beef prices being too high sent the feeder cattle complex limit lower in all of its contracts except the soon-to-expire October 2025 contract. This news development has been gut-wrenching for the market as the cattle complex was just in the middle of adding another record-breaking high to the complex's already impressive rally, but this development has completely shaken the complex.

The lean hog complex traded mostly higher, although a couple of the nearby contracts traded slightly lower. The market's positive turn could be partly because of the uptick in pork cutout prices, but it could also be that traders believe the market has traded lower enough for the time being.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/17141317/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 3/4 of a cent and March corn was up 1 cent. November soybeans closed up 8 3/4 cents and January soybeans were up 8 1/4 cents. December KC wheat closed up 2 3/4 cents, December Chicago wheat was up 1 1/4 cents, December Minneapolis wheat was down 1 cent.For the Week:December corn closed up 9 1/2 cents and March corn was up 7 1/2 cents. November soybeans closed up 12 3/4 cents and January soybeans were up 13 1/2 cents. December KC wheat closed up 8 1/2 cents, December Chicago wheat was up 5 1/4 cents and December Minneapolis wheat was down 3 1/4 cents.Corn, soy, and wheat markets continued their weekly recovery efforts, gaining back losses from last week's trade-war-induced selloff. President Trump said early Friday he still plans to meet with China's President Xi in South Korea at the end of the month, ahead of a Nov. 1 target date to potentially raise tariffs against China in response to recent restrictions imposed on rare-earth exports by China. This is providing some optimism to traders that, as was the case through the summer, an extension of the previous "trade truce" will be achieved, although how soybeans and other key ag exports will fare in any such agreement remains in the balance. Stock indices were higher following the president's comments, while higher gasoline and diesel prices for Friday also supported corn and soy futures.LIVESTOCK:It was a tumultuous session for the live cattle complex, as the market opened in a panicked manner, as on Thursday afternoon, President Trump shared that the administration is going to do something about beef prices being too high. Although no specific details have been shared just yet, there's a belief that some sort of deal could have been done with Argentina, as President Trump just met with their President, Javier Milei, at the White House. This comes at such an un-opportunistic time as the fed cash cattle market is trading anywhere from $5.00 to $9.00 higher, which should have a bolstering effect on the market, but this looming news has clouded that positive fundamental achievement. This news development has been gut-wrenching for the market as the cattle complex was just in the middle of adding another record-breaking high to the complex's already impressive rally, but this development has completely shaken the complex.It comes as no real surprise that the news from President Trump about a potential fix on beef prices being too high sent the feeder cattle complex limit lower in all of its contracts except the soon-to-expire October 2025 contract. This news development has been gut-wrenching for the market as the cattle complex was just in the middle of adding another record-breaking high to the complex's already impressive rally, but this development has completely shaken the complex. The lean hog complex traded mostly higher, although a couple of the nearby contracts traded slightly lower. The market's positive turn could be partly because of the uptick in pork cutout prices, but it could also be that traders believe the market has traded lower enough for the time being. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/17141317/web-closing-markets.mp3">Click HERE for audio</a>

High premiums on Brazilian cargoes are discouraging soybean buyers in China, which means the country has yet to secure much of its needed soybean supply for December and January. Reuters says the development could prompt the Chinese government to tap state reserves to meet the near-term needs. China covered its needs through November with hefty buys from Argentina in recent weeks, but still needs eight to nine million metric tons for December and January. 

Escalating Washington-Beijing trade tensions continue to shut American soybeans from the market. “China isn’t buying U.S. beans because of the trade war, and Brazilian beans have become too expensive,” one oilseed trader at an international trading company that supplies agricultural products to China told Reuters anonymously. “China might end up using its own reserves for its year-end needs and into early next year, and will wait until the new South American harvest comes in.” 

High premiums on Brazilian cargoes are discouraging soybean buyers in China, which means the country has yet to secure much of its needed soybean supply for December and January. Reuters says the development could prompt the Chinese government to tap state reserves to meet the near-term needs. China covered its needs through November with hefty buys from Argentina in recent weeks, but still needs eight to nine million metric tons for December and January. Escalating Washington-Beijing trade tensions continue to shut American soybeans from the market. “China isn’t buying U.S. beans because of the trade war, and Brazilian beans have become too expensive,” one oilseed trader at an international trading company that supplies agricultural products to China told Reuters anonymously. “China might end up using its own reserves for its year-end needs and into early next year, and will wait until the new South American harvest comes in.” -NAFB

China holding off on Brazil soybean purchases

The Federal Reserve Bank of Kansas City launched the Center for Agriculture and the Economy. This initiative underscores the Bank’s ongoing commitment to including perspectives from agriculture and rural areas in discussions on the national economy. “For many years, the Kansas City Fed has provided critical insights into one of the nation’s most vital industries, which is agriculture,” said Jeff Schmid, president and CEO of the Kansas City Fed. “The establishment of the Center formally recognizes our District’s investment in the area and highlights the vital importance that we place on gathering insights from all of those who have a role in the ag economy.” 

The new Center will serve as a resource within the Federal Reserve System by providing timely analysis of industry developments and conducting ongoing research on the agricultural economy and the rural regions where production predominates. Production agriculture is central to the Tenth District’s overall economy. 

The Federal Reserve Bank of Kansas City launched the Center for Agriculture and the Economy. This initiative underscores the Bank’s ongoing commitment to including perspectives from agriculture and rural areas in discussions on the national economy. “For many years, the Kansas City Fed has provided critical insights into one of the nation’s most vital industries, which is agriculture,” said Jeff Schmid, president and CEO of the Kansas City Fed. “The establishment of the Center formally recognizes our District’s investment in the area and highlights the vital importance that we place on gathering insights from all of those who have a role in the ag economy.” The new Center will serve as a resource within the Federal Reserve System by providing timely analysis of industry developments and conducting ongoing research on the agricultural economy and the rural regions where production predominates. Production agriculture is central to the Tenth District’s overall economy. -NAFB

Kansas City Fed launches Center for Agriculture and the Economy

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

Corn, soybean and (for the most part) wheat markets were higher on Thursday as traders continue to speculate how far production in 2025 could fall from prior estimates amid talk of lower-than-expected yields. Compounding that effect were reminders this week that the demand for U.S. grains and oilseeds remains very strong, especially within the U.S. Outside markets were mixed on Thursday as renewed trade war concerns are weighing on equities, with the Dow Jones Industrial Average down for the seventh time in the past ten session. Energy markets are also lower, closing in on May lows for crude oil futures.

With the anticipation that fed cash cattle prices will trade higher again this week; traders continued to push the live cattle contracts at least softly higher into Thursday's closing bell. Again, today it's the market's deferred contacts that are seeing the biggest day-over-day gains as everyone in the industry is clearly recognizing that although supplies are thin now, they're going to become even thinner before the cowherd is rebuilt. A few bids are now on the table in the North, where packers are offering $370 for dressed cattle. But at this point, still no cash cattle have traded. Asking prices are set in the South at $240 plus, and in eastern Nebraska at $380.

The feeder cattle complex also traded higher into Thursday's close as traders continue to believe in the market's positive long-term fundamentals. Demand has been utterly incredible this week in sales across the countryside, as shown by the CME feeder cattle index's rally, which reached a new all-time high Wednesday afternoon at $374.47.

The lean hog complex was again trading lower as the market simply isn't seeing the fundamental support it needs to give traders enough confidence that the contracts should trade steady to somewhat higher. Yes, pork cutout values may be a tick stronger, but overall demand has been volatile, and traders want steadfast confidence.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/16140939/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 5 cents and March corn was up 3 1/4 cents. November soybeans closed up 4 1/4 cents and January soybeans were up 4 1/4 cents. December KC wheat closed up 1/2 cents, December Chicago wheat was up 3 3/4 cents, December Minneapolis wheat was down 1 1/2 cents.Corn, soybean and (for the most part) wheat markets were higher on Thursday as traders continue to speculate how far production in 2025 could fall from prior estimates amid talk of lower-than-expected yields. Compounding that effect were reminders this week that the demand for U.S. grains and oilseeds remains very strong, especially within the U.S. Outside markets were mixed on Thursday as renewed trade war concerns are weighing on equities, with the Dow Jones Industrial Average down for the seventh time in the past ten session. Energy markets are also lower, closing in on May lows for crude oil futures.LIVESTOCK:With the anticipation that fed cash cattle prices will trade higher again this week; traders continued to push the live cattle contracts at least softly higher into Thursday's closing bell. Again, today it's the market's deferred contacts that are seeing the biggest day-over-day gains as everyone in the industry is clearly recognizing that although supplies are thin now, they're going to become even thinner before the cowherd is rebuilt. A few bids are now on the table in the North, where packers are offering $370 for dressed cattle. But at this point, still no cash cattle have traded. Asking prices are set in the South at $240 plus, and in eastern Nebraska at $380.The feeder cattle complex also traded higher into Thursday's close as traders continue to believe in the market's positive long-term fundamentals. Demand has been utterly incredible this week in sales across the countryside, as shown by the CME feeder cattle index's rally, which reached a new all-time high Wednesday afternoon at $374.47.The lean hog complex was again trading lower as the market simply isn't seeing the fundamental support it needs to give traders enough confidence that the contracts should trade steady to somewhat higher. Yes, pork cutout values may be a tick stronger, but overall demand has been volatile, and traders want steadfast confidence. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/16140939/web-closing-markets.mp3">Click HERE for audio</a>

Representatives Elise Stefanik and Rick Crawford have reintroduced the Promoting Agriculture Safeguards and Security Act that will protect U.S. national security by prohibiting foreign adversaries from purchasing or controlling American agricultural land and businesses. “Food security is national security, and I’m proud to reintroduce this legislation that will stand up against our foreign adversaries as they attempt to control our agriculture industry,” Stefanik said. “The U.S. cannot allow ownership bids of assets by communist China, Russia, Iran, and North Korea to undermine the efforts of our farmers, who work hard to feed and fuel our communities.” 

The PASS Act will ensure that the USDA is involved in reviewing foreign acquisitions of American agricultural land and businesses, and blacklists America’s foreign adversaries from controlling U.S. agricultural land. Representative Crawford added, “U.S. agriculture is a critical industry with real and significant impacts on our national security.”   

Representatives Elise Stefanik and Rick Crawford have reintroduced the Promoting Agriculture Safeguards and Security Act that will protect U.S. national security by prohibiting foreign adversaries from purchasing or controlling American agricultural land and businesses. “Food security is national security, and I’m proud to reintroduce this legislation that will stand up against our foreign adversaries as they attempt to control our agriculture industry,” Stefanik said. “The U.S. cannot allow ownership bids of assets by communist China, Russia, Iran, and North Korea to undermine the efforts of our farmers, who work hard to feed and fuel our communities.” The PASS Act will ensure that the USDA is involved in reviewing foreign acquisitions of American agricultural land and businesses, and blacklists America’s foreign adversaries from controlling U.S. agricultural land. Representative Crawford added, “U.S. agriculture is a critical industry with real and significant impacts on our national security.” -NAFB

Agriculture Safeguards and Security Act reintroduced in congress

The National Farmers Union recently sent letters to President Trump and Congressional leaders urging immediate action to provide economic relief to family farmers and ranchers facing deteriorating economic conditions. NFU emphasized that aid should reach the family farm operations that need it most. The group also asked for parallel efforts to rebuild fair markets and curb corporate consolidation in agriculture. “Family farmers and ranchers face severe economic challenges and a deepening crisis if they don’t receive assistance,” said NFU President Rob Larew. 

Larew emphasized that aid payments must be directed to family agricultural operations and balanced among regions and crops. The payments must be paired with efforts to investigate monopolies in the agriculture industry and their resulting impacts on the farm economy. Resources must also be dedicated to developing new and enhanced domestic markets for American crops while enhancing existing markets, including markets at the local and regional level. 

The National Farmers Union recently sent letters to President Trump and Congressional leaders urging immediate action to provide economic relief to family farmers and ranchers facing deteriorating economic conditions. NFU emphasized that aid should reach the family farm operations that need it most. The group also asked for parallel efforts to rebuild fair markets and curb corporate consolidation in agriculture. “Family farmers and ranchers face severe economic challenges and a deepening crisis if they don’t receive assistance,” said NFU President Rob Larew. Larew emphasized that aid payments must be directed to family agricultural operations and balanced among regions and crops. The payments must be paired with efforts to investigate monopolies in the agriculture industry and their resulting impacts on the farm economy. Resources must also be dedicated to developing new and enhanced domestic markets for American crops while enhancing existing markets, including markets at the local and regional level. -NAFB

Farmers union asking for relief for family farms and ranches

December corn closed up 3 3/4 cents and March corn was up 3 cents. November soybeans closed unchanged and January soybeans were unchanged as well. December KC wheat closed down 1/4 cents, December Chicago wheat was down 1 1/2 cents, December Minneapolis wheat was down 2 1/2 cents.

For the most part, grains and oilseed markets were steady to slightly higher at midweek as traders continue to form price opinions without input from USDA and other government agency reports. The latest development in the U.S.-China trade war was President Trump's comments late Tuesday that the U.S. is preparing to restrict Chinese imports on goods such as cooking oil in retaliation to the boycott of U.S. soybeans, which supported U.S. soybean oil futures on Wednesday. Meanwhile, equity markets were higher, more-or-less recovering losses from last week's trade scare as investors continue to shrug off greater trade war concerns. Energy markets were lower again Wednesday, with crude oil futures closing in once again on May lows which were at the time the lowest price in over four years.

Following the tremendous gains seen earlier this week, the live cattle complex traded mixed as traders appear more cautious, seeming to need more fundamental support to develop before they'll advance the contracts any higher. Still no cash cattle trade has developed, but it is assumed that feedlot managers are going to aim for higher prices again this week. No bids have surfaced yet, and it's assumed that the market won't see some trade develop until Thursday or Friday. Asking prices are noted at $240 plus in the South.

The feeder cattle complex has been one of the biggest driving factors in the cattle market's recent rally, but it also traded mixed into Wednesday's closing bell, as traders have seemed to notice the immense gains the market has seen recently and want to see more fundamental support arise before they push the market any higher.

The lean hog complex traded higher as the futures seemed to find some footing in the marketplace after plummeting lower on Wednesday. Thankfully, the market is trading further away from its support plane at $82.00, which was a concern heading into the day as traders haven't been overly supportive of the market this week. But with a little improvement in the cash market, traders feel as though the market has traded lower enough for the near term.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/15135459/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:December corn closed up 3 3/4 cents and March corn was up 3 cents. November soybeans closed unchanged and January soybeans were unchanged as well. December KC wheat closed down 1/4 cents, December Chicago wheat was down 1 1/2 cents, December Minneapolis wheat was down 2 1/2 cents.For the most part, grains and oilseed markets were steady to slightly higher at midweek as traders continue to form price opinions without input from USDA and other government agency reports. The latest development in the U.S.-China trade war was President Trump's comments late Tuesday that the U.S. is preparing to restrict Chinese imports on goods such as cooking oil in retaliation to the boycott of U.S. soybeans, which supported U.S. soybean oil futures on Wednesday. Meanwhile, equity markets were higher, more-or-less recovering losses from last week's trade scare as investors continue to shrug off greater trade war concerns. Energy markets were lower again Wednesday, with crude oil futures closing in once again on May lows which were at the time the lowest price in over four years.LIVESTOCK:Following the tremendous gains seen earlier this week, the live cattle complex traded mixed as traders appear more cautious, seeming to need more fundamental support to develop before they'll advance the contracts any higher. Still no cash cattle trade has developed, but it is assumed that feedlot managers are going to aim for higher prices again this week. No bids have surfaced yet, and it's assumed that the market won't see some trade develop until Thursday or Friday. Asking prices are noted at $240 plus in the South.The feeder cattle complex has been one of the biggest driving factors in the cattle market's recent rally, but it also traded mixed into Wednesday's closing bell, as traders have seemed to notice the immense gains the market has seen recently and want to see more fundamental support arise before they push the market any higher. The lean hog complex traded higher as the futures seemed to find some footing in the marketplace after plummeting lower on Wednesday. Thankfully, the market is trading further away from its support plane at $82.00, which was a concern heading into the day as traders haven't been overly supportive of the market this week. But with a little improvement in the cash market, traders feel as though the market has traded lower enough for the near term.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/10/15135459/web-closing-markets.mp3">Click HERE for audio</a>

The U.S. has traditionally had a healthy agricultural trade surplus for years. As global dynamics change due to multiple political and economic factors, U.S. agricultural imports now exceed exports. A new study says the deficit is likely to get worse in the years ahead. University of Illinois and Texas Tech University researchers say the U.S. is importing much more than it exports. 

From 2017 to 2018, the dispute between the U.S. and China resulted in export values dropping by $9 billion (73 percent) for soybeans, $432 million (67 percent) for wheat, $93 million (61 percent) for corn, and $313 million (37 percent) for sorghum. The total value of lost agricultural exports amounted to approximately $14 billion. At the same time, the U.S. is losing export markets to other large grain producers like Brazil, Canada, Australia, and Ukraine. The only good news is that the U.S. is actively working on new trade agreements. 

The U.S. has traditionally had a healthy agricultural trade surplus for years. As global dynamics change due to multiple political and economic factors, U.S. agricultural imports now exceed exports. A new study says the deficit is likely to get worse in the years ahead. University of Illinois and Texas Tech University researchers say the U.S. is importing much more than it exports. From 2017 to 2018, the dispute between the U.S. and China resulted in export values dropping by $9 billion (73 percent) for soybeans, $432 million (67 percent) for wheat, $93 million (61 percent) for corn, and $313 million (37 percent) for sorghum. The total value of lost agricultural exports amounted to approximately $14 billion. At the same time, the U.S. is losing export markets to other large grain producers like Brazil, Canada, Australia, and Ukraine. The only good news is that the U.S. is actively working on new trade agreements. -NAFB