September corn closed down 4 1/2 cents and December corn was down 3 cents. September soybeans closed unchanged, and November soybeans were unchanged. September KC wheat closed down 7 1/2 cents, September Chicago wheat was down 6 1/2 cents, September Minneapolis wheat was down 5 1/2 cents.

September corn closed down 10 cents and December corn was down 8 1/4 cents. September soybeans closed down 32 1/2 cents and November soybeans were down 31 3/4 cents. September KC wheat closed down 7 3/4 cents, September Chicago wheat was down 21 1/2 cents and September Minneapolis wheat was down 12 1/2 cents.

Ag markets were mixed to close the week in a quiet session in which macroeconomic news was in the spotlight. The Aug. 1 deadline for tariffs arrived at midnight Friday morning, with the Trump administration announcing a 7-day grace period before newly announced sweeping tariffs will take effect. Adding to investor worries on Friday was a surprisingly shaky July jobs report which showed a slowdown in job creation through early summer. The thus-far resilient labor market in 2025 has been a key pillar which the Fed has pointed to in its decisions to hold rates steady, with the market now widely expecting a series of cuts later this fall. As for ag markets, the direct effects of Friday's tariff announcements remain relatively unknown, as many key trading partners had previously struck deals with the Trump administration, while top partners Canada and Mexico will still get exemptions for goods under USMCA. The initial weakness for Friday stemmed heavily from the energy sector, where a sharp moves lower in crude oil futures as well as RBOB gasoline and diesel were felt in ag markets such as soybean oil and corn.

Following Thursday's technical turbulence, the live cattle complex got back to trading higher as traders were pleased to see the fed cash cattle market trading higher. A light trade has been reported in Kansas at $236, which is $1.00 higher than Thursday's trade and $3.00 higher than last week's weighted average. A few deals have also been reported in Texas at $235, which is fully steady with Thursday's trade. Asking prices remain firm in the South at $236 plus and in the North at $384 plus. More trade will likely develop throughout the afternoon, and once again, feedlot managers have been rewarded for their patient willingness to trade cattle later in the week as packers have upped their bids.

The feeder cattle complex also traded higher as traders have regained their focus from sheer panic and chaos, to one that's more clear and more stable, and is fixated on the current thriving performance of the cattle complex. Even though the futures complex dived lower Thursday afternoon, that hasn't affected demand in the countryside whatsoever.

The lean hog complex is trading higher into Friday's noon hour as traders are pleased with the uptick in pork demand late this week and are also grateful for the stability found throughout the futures complex, as traders have seemed to establish a new bottom in the market for at least this current move. August lean hogs are up $0.12 at $107.25, October lean hogs are up $0.40 at $89.97 and December lean hogs are up $0.35 at $82.07. Given that packers were so aggressive in the market earlier this week, it's unlikely that they'll do much more buying this afternoon, as their needs are fulfilled in the cash sector.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/01150741/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:September corn closed down 4 1/2 cents and December corn was down 3 cents. September soybeans closed unchanged, and November soybeans were unchanged. September KC wheat closed down 7 1/2 cents, September Chicago wheat was down 6 1/2 cents, September Minneapolis wheat was down 5 1/2 cents.For the Week:September corn closed down 10 cents and December corn was down 8 1/4 cents. September soybeans closed down 32 1/2 cents and November soybeans were down 31 3/4 cents. September KC wheat closed down 7 3/4 cents, September Chicago wheat was down 21 1/2 cents and September Minneapolis wheat was down 12 1/2 cents.Ag markets were mixed to close the week in a quiet session in which macroeconomic news was in the spotlight. The Aug. 1 deadline for tariffs arrived at midnight Friday morning, with the Trump administration announcing a 7-day grace period before newly announced sweeping tariffs will take effect. Adding to investor worries on Friday was a surprisingly shaky July jobs report which showed a slowdown in job creation through early summer. The thus-far resilient labor market in 2025 has been a key pillar which the Fed has pointed to in its decisions to hold rates steady, with the market now widely expecting a series of cuts later this fall. As for ag markets, the direct effects of Friday's tariff announcements remain relatively unknown, as many key trading partners had previously struck deals with the Trump administration, while top partners Canada and Mexico will still get exemptions for goods under USMCA. The initial weakness for Friday stemmed heavily from the energy sector, where a sharp moves lower in crude oil futures as well as RBOB gasoline and diesel were felt in ag markets such as soybean oil and corn.LIVESTOCK:Following Thursday's technical turbulence, the live cattle complex got back to trading higher as traders were pleased to see the fed cash cattle market trading higher. A light trade has been reported in Kansas at $236, which is $1.00 higher than Thursday's trade and $3.00 higher than last week's weighted average. A few deals have also been reported in Texas at $235, which is fully steady with Thursday's trade. Asking prices remain firm in the South at $236 plus and in the North at $384 plus. More trade will likely develop throughout the afternoon, and once again, feedlot managers have been rewarded for their patient willingness to trade cattle later in the week as packers have upped their bids. The feeder cattle complex also traded higher as traders have regained their focus from sheer panic and chaos, to one that's more clear and more stable, and is fixated on the current thriving performance of the cattle complex. Even though the futures complex dived lower Thursday afternoon, that hasn't affected demand in the countryside whatsoever.The lean hog complex is trading higher into Friday's noon hour as traders are pleased with the uptick in pork demand late this week and are also grateful for the stability found throughout the futures complex, as traders have seemed to establish a new bottom in the market for at least this current move. August lean hogs are up $0.12 at $107.25, October lean hogs are up $0.40 at $89.97 and December lean hogs are up $0.35 at $82.07. Given that packers were so aggressive in the market earlier this week, it's unlikely that they'll do much more buying this afternoon, as their needs are fulfilled in the cash sector.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/08/01150741/web-closing-markets.mp3">Click HERE for audio</a>

Commodity markets daily recap

President Donald Trump announced another in a series of recent trade deals, this time with the Republic of South Korea. He says the deal amounts to an investment of $350 billion in U.S. goods, which includes agricultural products. South Korea will also purchase an additional $100 billion in liquefied natural gas and other energy products. The President says U.S. goods will be traded with South Korea at a zero-tariff rate, while South Korea will pay a 15 percent tariff on U.S. goods. 

“South Korea is one of our longest-established trading partners, so the Council is happy to see the administration show a commitment to building on those years of mutual respect and trade with the negotiation of this newest trade deal,” says U.S. Grains Council CEO Ryan LeGrand. “Korea was our fifth-largest trading partner in grains in all forms, with sales totaling $4 billion in the 2023-2024 marketing year.

President Donald Trump announced another in a series of recent trade deals, this time with the Republic of South Korea. He says the deal amounts to an investment of $350 billion in U.S. goods, which includes agricultural products. South Korea will also purchase an additional $100 billion in liquefied natural gas and other energy products. The President says U.S. goods will be traded with South Korea at a zero-tariff rate, while South Korea will pay a 15 percent tariff on U.S. goods. “South Korea is one of our longest-established trading partners, so the Council is happy to see the administration show a commitment to building on those years of mutual respect and trade with the negotiation of this newest trade deal,” says U.S. Grains Council CEO Ryan LeGrand. “Korea was our fifth-largest trading partner in grains in all forms, with sales totaling $4 billion in the 2023-2024 marketing year.-NAFB

USGC reacts to trade deal with South Korea

The Energy Information Administration says U.S. ethanol output rose to its highest level in six weeks and inventories jumped in the seven days ending on July 25. Total production surged to an average of 1.1 million barrels a day, up from 1.0 million a week earlier. The agency said that’s the highest level since June 13. In the Midwest, which produces the most ethanol, output averaged just over a million barrels a day, up slightly from the week before. 

East Coast output jumped from 9,000 to 12,000 barrels a day, while Rocky Mountain production was up an average of 1,000 barrels a day to 11,000 during the week. Gulf Coast production was also up 1,000 barrels a day to an average of 25,000 barrels. West Coast output held steady compared to the prior week. Ethanol stockpiles on July 25 totaled 24.7 million barrels, reaching the highest level since the week ending April 18. 

The Energy Information Administration says U.S. ethanol output rose to its highest level in six weeks and inventories jumped in the seven days ending on July 25. Total production surged to an average of 1.1 million barrels a day, up from 1.0 million a week earlier. The agency said that’s the highest level since June 13. In the Midwest, which produces the most ethanol, output averaged just over a million barrels a day, up slightly from the week before. East Coast output jumped from 9,000 to 12,000 barrels a day, while Rocky Mountain production was up an average of 1,000 barrels a day to 11,000 during the week. Gulf Coast production was also up 1,000 barrels a day to an average of 25,000 barrels. West Coast output held steady compared to the prior week. Ethanol stockpiles on July 25 totaled 24.7 million barrels, reaching the highest level since the week ending April 18. -NAFB

Ethanol output hits six-week high

September corn closed up 2 1/4 cents and December corn was up 1 1/2 cents. September soybeans closed down 6 1/4 cents and November soybeans were down 6 1/2 cents. September KC wheat closed up 4 1/4 cents, September Chicago wheat was down 1/2 cents, September Minneapolis wheat was up 1/2 cents.

Row crops were mixed Thursday to close the month of July with short-side grain traders booking some profits in the corn and hard red wheat markets, while the soybean complex was under pressure with the exception of soymeal, with soybean oil taking the brunt of selling pressure for Thursday ahead of month end and pressuring the oilseed market as result. Outside markets were mixed across the board as well, with equities slightly higher but energies lower as traders are attempting to sort out the potential outcomes of Friday's deadline for the reciprocal tariff pause, as well as a looming Aug. 8 deadline President Trump has given Russia to end the war in Ukraine. In macro news for Thursday, the Fed's preferred inflation gauge, the Personal Consumption Expenditure Index, came in hotter than expected for June with the core rate (excluding energy and food) pegged at 2.8% annually. This will certainly add an interesting layer to the rate discussion following Wednesday's Fed decision to hold the target rate steady for a fifth consecutive meeting. The CME FedWatch tool has pivoted now to penciling just one cut in 2025 and favoring the October FOMC meeting.

The live cattle complex has waved its white flag today as traders seem uncertain on what to do with the onset of a 50% tariff affecting beef and cattle imports from Brazil, which goes into effect in seven days. Cattlemen don't mind the fact that Brazilian beef and cattle could face a greater tariff, as truthfully, they want their own product to be marketed as opposed to the imported products. However, where the tricky part of this matter comes into play is in beef prices, and how consumers are going to react. We all know that President Trump uses tariffs as a way to get foreign leaders to the table to negotiate, but if for whatever reason the Brazilian government doesn't budge, domestic consumers could be affected as beef prices would likely trade higher because supplies of beef would become even more limited. Needless to say, it's a situation that we need to keep a very close eye on. If the U.S. beef cow-herd wasn't at a 62-year low, the story would be entirely different. Again, most cattle producers wouldn't mind the fact that foreign beef was taxed at a higher rate than in years past. There was a small (extremely small) volume of cattle traded in Kansas on Wednesday at $235, which is $2.00 higher than last week's weighted average, but no more sales have transpired today. Bids of $235 are currently being offered in Kansas again, but no more cattle have traded hands. Packer demand should improve at any point in time now. Asking prices are firm in the South at $236 plus and in the North at $390.

Because of the announcement that a 50% tariff could go into effect on beef and cattle imports from Brazil -- the feeder cattle complex &nbsp;traded sharply lower into the closing bell, thanks to the morning's announcement. This decision is solely being made because of technical uncertainty, not because it reflects what's going on in the countryside.

The cattle complex may have endured some pressure, but the lean hog contracts seemed to find some more technical footing in the contracts, which helped the market trade mostly higher. Unfortunately, it's not because of stronger pork demand or higher cash sales, but solely because of the added stability in the futures complex.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/31152428/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:September corn closed up 2 1/4 cents and December corn was up 1 1/2 cents. September soybeans closed down 6 1/4 cents and November soybeans were down 6 1/2 cents. September KC wheat closed up 4 1/4 cents, September Chicago wheat was down 1/2 cents, September Minneapolis wheat was up 1/2 cents.Row crops were mixed Thursday to close the month of July with short-side grain traders booking some profits in the corn and hard red wheat markets, while the soybean complex was under pressure with the exception of soymeal, with soybean oil taking the brunt of selling pressure for Thursday ahead of month end and pressuring the oilseed market as result. Outside markets were mixed across the board as well, with equities slightly higher but energies lower as traders are attempting to sort out the potential outcomes of Friday's deadline for the reciprocal tariff pause, as well as a looming Aug. 8 deadline President Trump has given Russia to end the war in Ukraine. In macro news for Thursday, the Fed's preferred inflation gauge, the Personal Consumption Expenditure Index, came in hotter than expected for June with the core rate (excluding energy and food) pegged at 2.8% annually. This will certainly add an interesting layer to the rate discussion following Wednesday's Fed decision to hold the target rate steady for a fifth consecutive meeting. The CME FedWatch tool has pivoted now to penciling just one cut in 2025 and favoring the October FOMC meeting.LIVESTOCK:The live cattle complex has waved its white flag today as traders seem uncertain on what to do with the onset of a 50% tariff affecting beef and cattle imports from Brazil, which goes into effect in seven days. Cattlemen don't mind the fact that Brazilian beef and cattle could face a greater tariff, as truthfully, they want their own product to be marketed as opposed to the imported products. However, where the tricky part of this matter comes into play is in beef prices, and how consumers are going to react. We all know that President Trump uses tariffs as a way to get foreign leaders to the table to negotiate, but if for whatever reason the Brazilian government doesn't budge, domestic consumers could be affected as beef prices would likely trade higher because supplies of beef would become even more limited. Needless to say, it's a situation that we need to keep a very close eye on. If the U.S. beef cow-herd wasn't at a 62-year low, the story would be entirely different. Again, most cattle producers wouldn't mind the fact that foreign beef was taxed at a higher rate than in years past. There was a small (extremely small) volume of cattle traded in Kansas on Wednesday at $235, which is $2.00 higher than last week's weighted average, but no more sales have transpired today. Bids of $235 are currently being offered in Kansas again, but no more cattle have traded hands. Packer demand should improve at any point in time now. Asking prices are firm in the South at $236 plus and in the North at $390.Because of the announcement that a 50% tariff could go into effect on beef and cattle imports from Brazil -- the feeder cattle complex &nbsp;traded sharply lower into the closing bell, thanks to the morning's announcement. This decision is solely being made because of technical uncertainty, not because it reflects what's going on in the countryside. The cattle complex may have endured some pressure, but the lean hog contracts seemed to find some more technical footing in the contracts, which helped the market trade mostly higher. Unfortunately, it's not because of stronger pork demand or higher cash sales, but solely because of the added stability in the futures complex. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/31152428/web-closing-markets.mp3">Click HERE for audio</a>

Union Pacific will buy smaller rival Norfolk Southern in a deal worth $85 billion. U.P. says this would create the first coast-to-coast freight rail operator in the U.S. Reports say, if approved, the deal would be the largest buyout in the sector’s history. It would combine Union Pacific’s tracks in the western two-thirds of the U.S. with Norfolk’s more than 19,000-mile network covering 22 eastern states. The two railroads would have a combined enterprise value of $250 billion and would unlock annualized synergies of about $3 billion. 

The deal will likely face lengthy regulatory scrutiny amid union concerns over potential rate increases, service disruptions, and job losses. The National Grain and Feed Association says it will undertake an extensive evaluation of the proposed merger to “better understand” the implications for the industry. Mike Steenhoek of the Soy Transportation Coalition says the deal will create winners and losers in the  shipping industry.

Union Pacific will buy smaller rival Norfolk Southern in a deal worth $85 billion. U.P. says this would create the first coast-to-coast freight rail operator in the U.S. Reports say, if approved, the deal would be the largest buyout in the sector’s history. It would combine Union Pacific’s tracks in the western two-thirds of the U.S. with Norfolk’s more than 19,000-mile network covering 22 eastern states. The two railroads would have a combined enterprise value of $250 billion and would unlock annualized synergies of about $3 billion. The deal will likely face lengthy regulatory scrutiny amid union concerns over potential rate increases, service disruptions, and job losses. The National Grain and Feed Association says it will undertake an extensive evaluation of the proposed merger to “better understand” the implications for the industry. Mike Steenhoek of the Soy Transportation Coalition says the deal will create winners and losers in the shipping industry.-NAFB

Railroads to merge for $85 Billion

By:&nbsp;<a href="https://missouriindependent.com/author/noahgrabianski/">Noah Grabianski</a>

Cattle farms and feedlots in Missouri today are populated by cows that are a far cry from those that roamed pastures 80 or 90 years ago.

Cattle back then were referred to as “buckle cows” – named that way because they only went about as high as a rancher’s belt buckle. But in the 1950s, when cattle herd numbers were low, cattlemen began putting more emphasis on cows’ “frame size,” or their height.

In the past few decades, with improvements in genetic technology, farmers have been able to measure extremely specific qualities in their cattle. This has led to a shift from increasing the frame size of cattle to increasing the “performance,” or weight, of cattle. That means cattle aren’t getting taller, but heavier.

The U.S. cattle inventory&nbsp;<a href="https://downloads.usda.library.cornell.edu/usda-esmis/files/h702q636h/6108x003v/kk91h696g/catl0124.pdf" target="_blank">hit its lowest level in 73 years</a>&nbsp;in 2024,&nbsp;largely as a result of recent droughts. The solution isn’t as simple as just breeding more cows, because cattle producers have to balance the amount of cattle they hold back to reproduce, and the amount they sell off to feedyards to generate revenue.

Don Close, a senior animal protein analyst at agriculture publication Terrain Ag, said the industry has been shifting breeding practices to mitigate the recent cattle shortage.

“Being the lowest we’ve been since 1951, the industry has elected to make cattle bigger, to compensate in pounds what we’re losing in head count,” Close said.

Close estimated that the average live weight of U.S. cattle increases by about eight pounds a year. The carcass weight, or how much cattle weigh once the hide, bone and other inedible parts are removed, increases by about five pounds a year.

But there has been a particularly noticeable spike in the past decade or so, caused by incentives from meatpacking plants.

This trend can be seen through what’s known as the hot carcass weight discount, which is the payout reduction cattle producers receive when carcasses exceed a meatpacking plant’s maximum weight. As a result, producers try to get their cattle as close to that weight limit as possible without exceeding it.

Jamie Courter, the state beef genetics specialist at University of Missouri Extension, said that when she first started in the industry about 10 years ago, that weight limit was 1,000 pounds. It’s been creeping up ever since. The limit went up to 1,050 pounds, then 1,100, and now some plants have improved their technology enough to accept 1,200-pound carcasses.

“We keep pushing what we’re willing to accept, as far as size of feedyard steers, higher and higher,” Courter said. “The packers are incentivizing the feedyards and the commercial cattlemen to do so, and — right, wrong or indifferent — commercial cattlemen are going to chase that incentive because that impacts their bottom line.”

Higher cattle weights also have an effect on consumers down the line. Certain beef cuts, namely ribeye and loin, are getting too big to be easily packaged. Because the cows are bigger, these cuts are larger, meaning they have to be cut thinner and with more surface area than they used to be to maintain a consistent weight.

But Close said these high cattle weights are, in large part, a good thing for beef consumers.

“If we were to limit weights on the cattle, it would limit the total of beef production, limiting supply, that would drive price higher,” Close said. “So in a backwards kind of way, yes, it’s actually supporting … consumers, because it keeps more product available to the counter.”

Beef is getting more expensive, with the average price of ground beef hitting a&nbsp;<a href="https://www.nationalbeefwire.com/beef-prices-soar-to-record-highs-in-june" target="_blank">record high of $6.12 per pound</a>&nbsp;in June. However, bigger cows also means better quality. Bigger size leads to higher fat content and better marbling. Close estimated that 82% to 84% of all beef is of choice or prime grade, which lines up with consumer tastes.

However, researchers and cattle producers have said the current trajectory of beef performance isn’t sustainable. Courter said it’s important to consider the economic factors of farming cattle when trying to breed for size.

“We can’t have 2,000-pound mature-weight cows, because those cows eat more, which means you need more acres to raise that cow in a year,” Courter said. “Which means, if you don’t buy more land, you have to decrease the number of cows you have, or you have to increase how much hay or corn or whatever you’re buying to sustain that 2,000-pound cow.”

Doug Frank, co-owner of the Frank/Hazelrigg Cattle Co., said that cattle performance is reaching a threshold. In recent years, this has led farmers to start analyzing other significant traits.

“Maintenance costs are going up, and maybe we’re past the point of the most efficiency there,” Frank said. “We’re probably at the limit of what our commercial customers have for resources, and we’re a lot more interested in other traits.”

Where farmers used to look towards breeding for weight, some are now beginning to place importance in feeding efficiency. Farmers are tracking relative feed intake, which measures how much weight a cow gains from a certain amount of feed. Those that need less food to gain weight are more profitable for farmers.

Cattle performance may be starting to even out, but Frank highlighted the industry’s ability to continue delivering product, even during a downturn in inventory.

“Beef is not cheap today, but … we’ve increased production pretty substantially in the U.S. beef industry,” Frank said, “and we’ve done it with the lowest cow numbers that we’ve had in (decades).”

This story originally appeared in&nbsp;<a href="https://www.missouribusinessalert.com/" target="_blank">Missouri&nbsp;Business&nbsp;Alert</a>, a digital newsroom covering&nbsp;businessand the economy in&nbsp;Missouri.

<figure>
 <img src="https://media.eaglewebservices.com/public/2025/7/1753957064006.png" alt=" Cows are pictured at the University of Missouri South Farm. Cattle weight may be approaching a tipping point, experts say (Noah Grabianski/Missouri Business Alert)" />
 <figcaption> Cows are pictured at the University of Missouri South Farm. Cattle weight may be approaching a tipping point, experts say (Noah Grabianski/Missouri Business Alert)</figcaption>
 </figure>By:&nbsp;<a href="https://missouriindependent.com/author/noahgrabianski/">Noah Grabianski</a>Cattle farms and feedlots in Missouri today are populated by cows that are a far cry from those that roamed pastures 80 or 90 years ago.Cattle back then were referred to as “buckle cows” – named that way because they only went about as high as a rancher’s belt buckle. But in the 1950s, when cattle herd numbers were low, cattlemen began putting more emphasis on cows’ “frame size,” or their height.In the past few decades, with improvements in genetic technology, farmers have been able to measure extremely specific qualities in their cattle. This has led to a shift from increasing the frame size of cattle to increasing the “performance,” or weight, of cattle. That means cattle aren’t getting taller, but heavier.The U.S. cattle inventory&nbsp;<a href="https://downloads.usda.library.cornell.edu/usda-esmis/files/h702q636h/6108x003v/kk91h696g/catl0124.pdf" target="_blank">hit its lowest level in 73 years</a>&nbsp;in 2024,&nbsp;largely as a result of recent droughts. The solution isn’t as simple as just breeding more cows, because cattle producers have to balance the amount of cattle they hold back to reproduce, and the amount they sell off to feedyards to generate revenue.Don Close, a senior animal protein analyst at agriculture publication Terrain Ag, said the industry has been shifting breeding practices to mitigate the recent cattle shortage.“Being the lowest we’ve been since 1951, the industry has elected to make cattle bigger, to compensate in pounds what we’re losing in head count,” Close said.Close estimated that the average live weight of U.S. cattle increases by about eight pounds a year. The carcass weight, or how much cattle weigh once the hide, bone and other inedible parts are removed, increases by about five pounds a year.But there has been a particularly noticeable spike in the past decade or so, caused by incentives from meatpacking plants.This trend can be seen through what’s known as the hot carcass weight discount, which is the payout reduction cattle producers receive when carcasses exceed a meatpacking plant’s maximum weight. As a result, producers try to get their cattle as close to that weight limit as possible without exceeding it.Jamie Courter, the state beef genetics specialist at University of Missouri Extension, said that when she first started in the industry about 10 years ago, that weight limit was 1,000 pounds. It’s been creeping up ever since. The limit went up to 1,050 pounds, then 1,100, and now some plants have improved their technology enough to accept 1,200-pound carcasses.“We keep pushing what we’re willing to accept, as far as size of feedyard steers, higher and higher,” Courter said. “The packers are incentivizing the feedyards and the commercial cattlemen to do so, and — right, wrong or indifferent — commercial cattlemen are going to chase that incentive because that impacts their bottom line.”Higher cattle weights also have an effect on consumers down the line. Certain beef cuts, namely ribeye and loin, are getting too big to be easily packaged. Because the cows are bigger, these cuts are larger, meaning they have to be cut thinner and with more surface area than they used to be to maintain a consistent weight.But Close said these high cattle weights are, in large part, a good thing for beef consumers.“If we were to limit weights on the cattle, it would limit the total of beef production, limiting supply, that would drive price higher,” Close said. “So in a backwards kind of way, yes, it’s actually supporting … consumers, because it keeps more product available to the counter.”Beef is getting more expensive, with the average price of ground beef hitting a&nbsp;<a href="https://www.nationalbeefwire.com/beef-prices-soar-to-record-highs-in-june" target="_blank">record high of $6.12 per pound</a>&nbsp;in June. However, bigger cows also means better quality. Bigger size leads to higher fat content and better marbling. Close estimated that 82% to 84% of all beef is of choice or prime grade, which lines up with consumer tastes.However, researchers and cattle producers have said the current trajectory of beef performance isn’t sustainable. Courter said it’s important to consider the economic factors of farming cattle when trying to breed for size.“We can’t have 2,000-pound mature-weight cows, because those cows eat more, which means you need more acres to raise that cow in a year,” Courter said. “Which means, if you don’t buy more land, you have to decrease the number of cows you have, or you have to increase how much hay or corn or whatever you’re buying to sustain that 2,000-pound cow.”Doug Frank, co-owner of the Frank/Hazelrigg Cattle Co., said that cattle performance is reaching a threshold. In recent years, this has led farmers to start analyzing other significant traits.“Maintenance costs are going up, and maybe we’re past the point of the most efficiency there,” Frank said. “We’re probably at the limit of what our commercial customers have for resources, and we’re a lot more interested in other traits.”Where farmers used to look towards breeding for weight, some are now beginning to place importance in feeding efficiency. Farmers are tracking relative feed intake, which measures how much weight a cow gains from a certain amount of feed. Those that need less food to gain weight are more profitable for farmers.Cattle performance may be starting to even out, but Frank highlighted the industry’s ability to continue delivering product, even during a downturn in inventory.“Beef is not cheap today, but … we’ve increased production pretty substantially in the U.S. beef industry,” Frank said, “and we’ve done it with the lowest cow numbers that we’ve had in (decades).”This story originally appeared in&nbsp;<a href="https://www.missouribusinessalert.com/" target="_blank">Missouri&nbsp;Business&nbsp;Alert</a>, a digital newsroom covering&nbsp;businessand the economy in&nbsp;Missouri.

Thinning herd, heavier cattle reshape Missouri’s beef supply chain

Listen to the markets by clicking <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/30143526/30001-markets-230pm.wav">HERE</a>.

September corn closed up 2 1/2 cents and December corn was up 1 1/4 cents. September soybeans closed down 13 3/4 cents and November soybeans were down 13 3/4 cents. September KC wheat closed up 3 1/2 cents, September Chicago wheat was down 6 cents, September MIAX Minneapolis wheat was down 1/4 cents.

The U.S. Dollar Index is up 0.47 at 99.36. The Dow Jones Industrial Average is up 26.0 points at 44,842.0. August gold is down $30.60 at $3,293.40, September silver is down $0.72 at $37.57 and September copper is down $1.0085. September crude oil is up $0.80 at $70.01, September ultra-low sulfur diesel is down $0.0383, September RBOB gasoline is up $0.0257 and September natural gas is down $0.098.

September corn futures closed up 2 1/2 cents on Wednesday to $3.91 3/4. December futures were up 1 1/4 cents to $4.12 1/4. The corn market enjoyed a day of modest short-covering ahead of month end, with no significantly bullish news spurring on buyers, with the approach to contract lows likely triggering some buy orders along the way.

In Wednesday morning's Petroleum Status report, the EIA pegged ethanol production in the U.S. for last week at 1.096 million barrels per day (bpd), an increase of 18,000 bpd from the previous week, but slightly lower than the same week in 2024. As of Wednesday's report, five weeks and change remain in the corn marketing year. In South American news, Brazil's second corn crop is about two-thirds harvested, while Argentina's harvest was 86% complete as of last week, according to the International Grains Council. U.S. corn export offers remain very competitive on the world stage.

In corn technicals, December futures found buying support Wednesday after trading to within 2 cents of the contract low Tuesday. For now, the unchanged fundamental outlook, featuring many private estimates for a 2025 corn yield well above trend, leaves technical support as really the only incentive for buyers in the marketplace. The bullish target in the near to medium term is the 20-day moving average near $4.20. A break in December futures below support near $4.10 would set $4.00 as the immediate bearish target.

The DTN National Corn Index finished Tuesday at $3.74. Wednesday's futures close and implied corn basis of 15 cents under the September board would indicate the index on Wednesday afternoon to be near $3.76.

September soybeans dropped another 13 3/4 cents to $9.75 3/4 on Wednesday, while November futures were also under heavy pressure, falling 13 3/4 cents to $9.95 3/4. November soybeans fell for the seventh time in the past eight sessions, a route which has added up to over 35 cents of lost value on the contract. It sounds like a broken record, but for now traders are struggling to look beyond the weather with the 15-day outlook now taking us to mid-August with few perceived issues for soybean pod filling. However, storms are always a threat this time of year and will need to be monitored as events arise.

A disappointing feature of the soybean selloff through the last month has been the breakaway from soybean oil in price action. Soybean oil futures continue to grind to the highest prices seen since 2023, but the bullish influence over the whole soybean market has drastically faded over the past month as traders for now don't see the large increase in soybean crush potential through 2025-26 as being enough to offset potentially record yields and shaky export demand if China remains absent.

In soybean technicals, it's safe to say November soybeans posted their most bearish close in months on Wednesday, closing below $10.00 for the first time since April 9, which came immediately following the April 2 reciprocal tariff announcement. If the market can't gain a footing back above $10.00 support, the early April low in the mid $9.70s seems to be the likely bearish target. It will be important to see if soybeans can find any bargain buyers again at this level as was the case in mid-July.

The DTN National Soybean Index finished Tuesday at $9.54. Wednesday's futures close and implied soybean basis of 56 cents under the November board would indicate the index on Wednesday afternoon to be near $9.40.

September Kansas City futures rose 3 1/2 cents on Wednesday to $5.22. Meanwhile, Chicago and Minneapolis futures were lower, with the latter trading to a sixth consecutive lower session and 12 lower out of the past 14.

In their weekly report, the International Grains Council reported Russian wheat harvest at 37% complete, with production thus far roughly 22% lower than in 2024, although yields are expected to improve as harvest moves northward. Meanwhile, a strong recovery in EU crops continues to weigh on world prices, with futures traders seeing little need to price any supply risks into markets.

In wheat technicals, September KC futures again came within a penny of contract lows early Wednesday but mounted a reversal to reclaim support at $5.20 which has been impressive in holding hard red prices through July. The bullish objective is the 20-day moving average at $5.26 1/2 which has been equally stubborn in keeping prices down since mid-June. $5.00 remains the ultimate bearish target on a sustained break below aforementioned $5.20 support.

By MATT PIKEListen to the markets by clicking <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/30143526/30001-markets-230pm.wav">HERE</a>.GENERAL COMMENTS:September corn closed up 2 1/2 cents and December corn was up 1 1/4 cents. September soybeans closed down 13 3/4 cents and November soybeans were down 13 3/4 cents. September KC wheat closed up 3 1/2 cents, September Chicago wheat was down 6 cents, September MIAX Minneapolis wheat was down 1/4 cents.The U.S. Dollar Index is up 0.47 at 99.36. The Dow Jones Industrial Average is up 26.0 points at 44,842.0. August gold is down $30.60 at $3,293.40, September silver is down $0.72 at $37.57 and September copper is down $1.0085. September crude oil is up $0.80 at $70.01, September ultra-low sulfur diesel is down $0.0383, September RBOB gasoline is up $0.0257 and September natural gas is down $0.098.CORN:September corn futures closed up 2 1/2 cents on Wednesday to $3.91 3/4. December futures were up 1 1/4 cents to $4.12 1/4. The corn market enjoyed a day of modest short-covering ahead of month end, with no significantly bullish news spurring on buyers, with the approach to contract lows likely triggering some buy orders along the way.In Wednesday morning's Petroleum Status report, the EIA pegged ethanol production in the U.S. for last week at 1.096 million barrels per day (bpd), an increase of 18,000 bpd from the previous week, but slightly lower than the same week in 2024. As of Wednesday's report, five weeks and change remain in the corn marketing year. In South American news, Brazil's second corn crop is about two-thirds harvested, while Argentina's harvest was 86% complete as of last week, according to the International Grains Council. U.S. corn export offers remain very competitive on the world stage.In corn technicals, December futures found buying support Wednesday after trading to within 2 cents of the contract low Tuesday. For now, the unchanged fundamental outlook, featuring many private estimates for a 2025 corn yield well above trend, leaves technical support as really the only incentive for buyers in the marketplace. The bullish target in the near to medium term is the 20-day moving average near $4.20. A break in December futures below support near $4.10 would set $4.00 as the immediate bearish target.The DTN National Corn Index finished Tuesday at $3.74. Wednesday's futures close and implied corn basis of 15 cents under the September board would indicate the index on Wednesday afternoon to be near $3.76.SOYBEANS:September soybeans dropped another 13 3/4 cents to $9.75 3/4 on Wednesday, while November futures were also under heavy pressure, falling 13 3/4 cents to $9.95 3/4. November soybeans fell for the seventh time in the past eight sessions, a route which has added up to over 35 cents of lost value on the contract. It sounds like a broken record, but for now traders are struggling to look beyond the weather with the 15-day outlook now taking us to mid-August with few perceived issues for soybean pod filling. However, storms are always a threat this time of year and will need to be monitored as events arise.A disappointing feature of the soybean selloff through the last month has been the breakaway from soybean oil in price action. Soybean oil futures continue to grind to the highest prices seen since 2023, but the bullish influence over the whole soybean market has drastically faded over the past month as traders for now don't see the large increase in soybean crush potential through 2025-26 as being enough to offset potentially record yields and shaky export demand if China remains absent.In soybean technicals, it's safe to say November soybeans posted their most bearish close in months on Wednesday, closing below $10.00 for the first time since April 9, which came immediately following the April 2 reciprocal tariff announcement. If the market can't gain a footing back above $10.00 support, the early April low in the mid $9.70s seems to be the likely bearish target. It will be important to see if soybeans can find any bargain buyers again at this level as was the case in mid-July.The DTN National Soybean Index finished Tuesday at $9.54. Wednesday's futures close and implied soybean basis of 56 cents under the November board would indicate the index on Wednesday afternoon to be near $9.40.WHEAT:September Kansas City futures rose 3 1/2 cents on Wednesday to $5.22. Meanwhile, Chicago and Minneapolis futures were lower, with the latter trading to a sixth consecutive lower session and 12 lower out of the past 14.In their weekly report, the International Grains Council reported Russian wheat harvest at 37% complete, with production thus far roughly 22% lower than in 2024, although yields are expected to improve as harvest moves northward. Meanwhile, a strong recovery in EU crops continues to weigh on world prices, with futures traders seeing little need to price any supply risks into markets.In wheat technicals, September KC futures again came within a penny of contract lows early Wednesday but mounted a reversal to reclaim support at $5.20 which has been impressive in holding hard red prices through July. The bullish objective is the 20-day moving average at $5.26 1/2 which has been equally stubborn in keeping prices down since mid-June. $5.00 remains the ultimate bearish target on a sustained break below aforementioned $5.20 support.

A series of new trade deals between the United States and countries around the world could directly benefit America’s farmers and ranchers. Groups like the American Farm Bureau support the agreements, noting that strong and enduring agreements help connect U.S. farmers and ranchers with global markets. The U.S. Grains Council also applauded the trade deals, including the one between the U.S. and the EU.  

USGC President and CEO Ryan LeGrand said, “This deal promises to build upon long-established trade with our eighth-largest grains-in-all-forms trading partner, worth more than $1 billion in the 2023-2024 marketing year and our fourth-largest ethanol trading partner.”  The Renewable Fuels Association said the deal comes at a good time as corn growers prepare for what is looking like a record harvest. RFA President Geoff Cooper said, “We stand ready to produce larger volumes of cleaner-burning ethanol and valuable co-products for our customers around the world.”

A series of new trade deals between the United States and countries around the world could directly benefit America’s farmers and ranchers. Groups like the American Farm Bureau support the agreements, noting that strong and enduring agreements help connect U.S. farmers and ranchers with global markets. The U.S. Grains Council also applauded the trade deals, including the one between the U.S. and the EU. USGC President and CEO Ryan LeGrand said, “This deal promises to build upon long-established trade with our eighth-largest grains-in-all-forms trading partner, worth more than $1 billion in the 2023-2024 marketing year and our fourth-largest ethanol trading partner.” The Renewable Fuels Association said the deal comes at a good time as corn growers prepare for what is looking like a record harvest. RFA President Geoff Cooper said, “We stand ready to produce larger volumes of cleaner-burning ethanol and valuable co-products for our customers around the world.”-NAFB

Ag groups support new trade deals

For the first time since July and August of 2023, the Rural Mainstreet Index, a survey of bankers in areas that rely on agriculture, registered two consecutive months of above growth-neutral readings. It’s the highest level for the RMI since July 2023. Bankers reported very low farm loan delinquency rates over the past six months. Unfortunately, one in four farmers is expected to experience negative income in 2025. 

For the 13th time in the past 14 months, farmland prices sank below growth neutral. Farm equipment sales dropped below growth neutral for the 22nd straight month. Regional exports of agricultural goods and livestock for the first four months of 2025, compared to the same period last year, fell from $4.5 billion in 2024 to $3.7 billion in 2025, for a decline of 18.5 percent. Mexico was the top destination for regional ag exports, accounting for more than 55 percent of total exports.  

For the first time since July and August of 2023, the Rural Mainstreet Index, a survey of bankers in areas that rely on agriculture, registered two consecutive months of above growth-neutral readings. It’s the highest level for the RMI since July 2023. Bankers reported very low farm loan delinquency rates over the past six months. Unfortunately, one in four farmers is expected to experience negative income in 2025. For the 13th time in the past 14 months, farmland prices sank below growth neutral. Farm equipment sales dropped below growth neutral for the 22nd straight month. Regional exports of agricultural goods and livestock for the first four months of 2025, compared to the same period last year, fell from $4.5 billion in 2024 to $3.7 billion in 2025, for a decline of 18.5 percent. Mexico was the top destination for regional ag exports, accounting for more than 55 percent of total exports. -NAFB

Rural Mainstreet Index expands in July

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

Prices slipped further Tuesday into 2025 lows and in some instances contract lows as another round of mixed crop ratings from USDA on Monday gave bearish traders little incentive to change their current market bias. Market news for Tuesday was slim, but it was reported in the early afternoon that U.S. and Chinese officials had agreed in principle to extend the trade truce which had been set to expire on Aug. 12, with later reports indicating that President Trump would give final approval on Wednesday. Meanwhile, Commerce Secretary Lutnick said Tuesday that Friday's tariff deadline for other countries is a firm cutoff before reciprocal tariffs go back into place. Meanwhile, the U.S. dollar has surged through the first two days of the week to its highest level in over a month on the weekend trade deal with the European Union. Lastly, investors and traders alike will tune in Wednesday for the conclusion of the July FOMC meeting in which the Fed is widely expected to hold interest rates despite growing tension between the Trump Administration and Fed Chair Jerome Powell.

Although traders were cautious at the day's initial start, the live cattle complex got back to trading higher after shaking the morning's initial jitters. Today's slight uptick, although it still is less than a dollar's advancement, is enough of a push to lead many of the nearby contracts to new contract highs yet again. No business has developed yet in the fed cash cattle market, and it isn't expected to any time soon, as feedlot managers and packers are likely to go round again this week as both parties want starkly different outcomes for the market. Asking prices are noted in the South at $235 plus, but are still not established yet in the North.

Per the norm here lately, the feeder cattle complex was again rocking and rolling into the day's closing bell as the sky truly remains the limit for the feeder cattle complex right now. Like the live cattle complex, today's advance scores new all-time highs in most of the nearby contracts once again. And regarding demand in the countryside, buyers remain so active in the market that Monday's CME feeder cattle index closed at $329.93.

With cash prices and pork cutouts values lower, it doesn't surprise many that the lean hog complex traded lower. The weakness in the market's fundamentals, mixed with the continued pressure being seen in the futures complex, has gravely affected the complex today as the contracts were all trading $1.00 to $2.00 lower.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/29154319/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:September corn closed down 4 1/2 cents and December corn was down 3 cents. August soybeans closed down 7 cents and November soybeans were down 2 cents. September KC wheat closed down 7 1/2 cents, September Chicago wheat was down 8 3/4 cents, September Minneapolis wheat was down 4 cents.Prices slipped further Tuesday into 2025 lows and in some instances contract lows as another round of mixed crop ratings from USDA on Monday gave bearish traders little incentive to change their current market bias. Market news for Tuesday was slim, but it was reported in the early afternoon that U.S. and Chinese officials had agreed in principle to extend the trade truce which had been set to expire on Aug. 12, with later reports indicating that President Trump would give final approval on Wednesday. Meanwhile, Commerce Secretary Lutnick said Tuesday that Friday's tariff deadline for other countries is a firm cutoff before reciprocal tariffs go back into place. Meanwhile, the U.S. dollar has surged through the first two days of the week to its highest level in over a month on the weekend trade deal with the European Union. Lastly, investors and traders alike will tune in Wednesday for the conclusion of the July FOMC meeting in which the Fed is widely expected to hold interest rates despite growing tension between the Trump Administration and Fed Chair Jerome Powell.LIVESTOCK:Although traders were cautious at the day's initial start, the live cattle complex got back to trading higher after shaking the morning's initial jitters. Today's slight uptick, although it still is less than a dollar's advancement, is enough of a push to lead many of the nearby contracts to new contract highs yet again. No business has developed yet in the fed cash cattle market, and it isn't expected to any time soon, as feedlot managers and packers are likely to go round again this week as both parties want starkly different outcomes for the market. Asking prices are noted in the South at $235 plus, but are still not established yet in the North.Per the norm here lately, the feeder cattle complex was again rocking and rolling into the day's closing bell as the sky truly remains the limit for the feeder cattle complex right now. Like the live cattle complex, today's advance scores new all-time highs in most of the nearby contracts once again. And regarding demand in the countryside, buyers remain so active in the market that Monday's CME feeder cattle index closed at $329.93.With cash prices and pork cutouts values lower, it doesn't surprise many that the lean hog complex traded lower. The weakness in the market's fundamentals, mixed with the continued pressure being seen in the futures complex, has gravely affected the complex today as the contracts were all trading $1.00 to $2.00 lower.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/29154319/web-closing-markets.mp3">Click HERE for audio</a>

The July Cattle on Feed Report offered little relief to customers paying higher prices for beef. That’s despite the cycle of herd liquidation that seems to be slowly ending. There were 94.2 million cattle and calves in the U.S. as of July 1, the lowest mid-year number of cattle since 1973. The USDA also said the number of animals placed in feedlots for weight gain before being sent to packers plunged to its lowest level since 2017. 

Reports show a severe shortage in the world’s largest beef-producing country has sent cattle costs soaring, wiping out billions in profits for packers and driving record-high beef prices in U.S. grocery stores. Dr. Derrell Peel at Oklahoma State University says the latest USDA numbers offer little indication of herd rebuilding or, at least, it’s not very aggressive so far. “The number of heifers in feedlots remained mostly stable.” 

The July Cattle on Feed Report offered little relief to customers paying higher prices for beef. That’s despite the cycle of herd liquidation that seems to be slowly ending. There were 94.2 million cattle and calves in the U.S. as of July 1, the lowest mid-year number of cattle since 1973. The USDA also said the number of animals placed in feedlots for weight gain before being sent to packers plunged to its lowest level since 2017. Reports show a severe shortage in the world’s largest beef-producing country has sent cattle costs soaring, wiping out billions in profits for packers and driving record-high beef prices in U.S. grocery stores. Dr. Derrell Peel at Oklahoma State University says the latest USDA numbers offer little indication of herd rebuilding or, at least, it’s not very aggressive so far. “The number of heifers in feedlots remained mostly stable.” -NAFB

Smallest U.S. cattle herd since 1973

Numerous stakeholders, like farmers, Extension Services, researchers, and policymakers, all rely on the data that USDA has collected for more than 150 years. The data is collected through agencies and programs like the National Agricultural Statistics Service and the Economic Research Service. Decreasing responses to USDA’s farmer surveys are beginning to put the integrity of the data at risk. One of the biggest challenges to getting a good survey response is timing. Unfortunately, many survey collection periods overlap with farmers’ busiest times.

For example, leading up to the June 30 Planted Acreage Report, NASS contacted almost 92,000 farmers during a time that overlaps with the end of planting and spraying seasons for many row crop farmers. A Farm Bureau Market Intel page says USDA should look to examine ways to increase participation and reliability without imposing more burdens on the already too busy growers whom the data is designed to serve. 

Numerous stakeholders, like farmers, Extension Services, researchers, and policymakers, all rely on the data that USDA has collected for more than 150 years. The data is collected through agencies and programs like the National Agricultural Statistics Service and the Economic Research Service. Decreasing responses to USDA’s farmer surveys are beginning to put the integrity of the data at risk. One of the biggest challenges to getting a good survey response is timing. Unfortunately, many survey collection periods overlap with farmers’ busiest times.For example, leading up to the June 30 Planted Acreage Report, NASS contacted almost 92,000 farmers during a time that overlaps with the end of planting and spraying seasons for many row crop farmers. A Farm Bureau Market Intel page says USDA should look to examine ways to increase participation and reliability without imposing more burdens on the already too busy growers whom the data is designed to serve. -NAFB

Falling farmer responses to surveys are a growing problem

September corn closed down 5 3/4 cents and December corn was down 5 cents. August soybeans closed down 10 cents and November soybeans were down 9 1/2 cents. September KC wheat closed down 1/2 cents, September Chicago wheat was up 1/4 cents, September Minneapolis wheat was down 3 1/4 cents.

Row-crop markets kept with the common theme for Monday sessions through the growing season thus far with another sharp move lower as traders expect another solid round of crop ratings from USDA later Monday afternoon and are seeing no reason currently to not expect record-setting yields this fall given the weather through the growing season thus far. Outside markets were mostly of positive influence for Monday, although weather-focused ag traders appeared to pay little mind. Equities were higher on the trade deal announcement over the weekend between the U.S. and European Union. Meanwhile, energy markets were mostly higher after President Trump announced he would tighten the window for a ceasefire in the Russia/Ukraine war before Russia would face possible heightened sanctions from the U.S.

Following the slew of positive developments late last week, the live cattle complex hasn't shied away from trading higher as the market has seen a plethora of fundamental support gush into the marketplace. Whether that be last week's bullish Cattle on Feed report, or the noting on the mid-year Cattle Inventory report that no signs of herd build back have started yet, or the steady to $2.00 higher in the fed cash cattle market, or the unseasonal uptick in boxed beef prices. There are almost too many bullish factors currently playing in the marketplace to keep trade off.

After fully evaluating the market's triumphant success last week, it's almost as if traders noted the positive developments and merely said, "say less," as they shot the feeder cattle contracts higher. Once again today, the market's higher push in the futures complex scored another new contract high for many of the nearby contracts.

Following last week's choppy trade, the lean hog complex again skittered sideways into Monday's closing bell. It will be imperative that demand remains strong this week if traders are going to be successfully able to advance the contracts. Packers could be slightly less aggressive in this week's cash market as they bought a sizeable volume last week.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/28145010/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:September corn closed down 5 3/4 cents and December corn was down 5 cents. August soybeans closed down 10 cents and November soybeans were down 9 1/2 cents. September KC wheat closed down 1/2 cents, September Chicago wheat was up 1/4 cents, September Minneapolis wheat was down 3 1/4 cents.Row-crop markets kept with the common theme for Monday sessions through the growing season thus far with another sharp move lower as traders expect another solid round of crop ratings from USDA later Monday afternoon and are seeing no reason currently to not expect record-setting yields this fall given the weather through the growing season thus far. Outside markets were mostly of positive influence for Monday, although weather-focused ag traders appeared to pay little mind. Equities were higher on the trade deal announcement over the weekend between the U.S. and European Union. Meanwhile, energy markets were mostly higher after President Trump announced he would tighten the window for a ceasefire in the Russia/Ukraine war before Russia would face possible heightened sanctions from the U.S.LIVESTOCK:Following the slew of positive developments late last week, the live cattle complex hasn't shied away from trading higher as the market has seen a plethora of fundamental support gush into the marketplace. Whether that be last week's bullish Cattle on Feed report, or the noting on the mid-year Cattle Inventory report that no signs of herd build back have started yet, or the steady to $2.00 higher in the fed cash cattle market, or the unseasonal uptick in boxed beef prices. There are almost too many bullish factors currently playing in the marketplace to keep trade off. After fully evaluating the market's triumphant success last week, it's almost as if traders noted the positive developments and merely said, "say less," as they shot the feeder cattle contracts higher. Once again today, the market's higher push in the futures complex scored another new contract high for many of the nearby contracts.Following last week's choppy trade, the lean hog complex again skittered sideways into Monday's closing bell. It will be imperative that demand remains strong this week if traders are going to be successfully able to advance the contracts. Packers could be slightly less aggressive in this week's cash market as they bought a sizeable volume last week.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/28145010/web-closing-markets.mp3">Click HERE for audio</a>

USDA’s latest grain export sales report, covering the week through July 17, held mixed but mostly solid results for traders to digest. Corn volume led the way once more, staying on the higher end of analyst estimates. Wheat sales improved 50% from the prior four-week average, besting all trade guesses in the process and hitting a “marathon-esque” number. 

Soybean sales struggled, in contrast, after old-crop sales slumped 41% lower week-over-week. Corn exports found 54 million bushels in combined old and new crop sales last week. Old crop sales eased 2% lower week-over-week, while total sales were on the higher end of analyst estimates, which ranged between 19 million and 63 million bushels. Cumulative sales for the 2024-25 marketing year remain noticeably above last year’s pace after reaching 2.37 billion bushels.

USDA’s latest grain export sales report, covering the week through July 17, held mixed but mostly solid results for traders to digest. Corn volume led the way once more, staying on the higher end of analyst estimates. Wheat sales improved 50% from the prior four-week average, besting all trade guesses in the process and hitting a “marathon-esque” number. Soybean sales struggled, in contrast, after old-crop sales slumped 41% lower week-over-week. Corn exports found 54 million bushels in combined old and new crop sales last week. Old crop sales eased 2% lower week-over-week, while total sales were on the higher end of analyst estimates, which ranged between 19 million and 63 million bushels. Cumulative sales for the 2024-25 marketing year remain noticeably above last year’s pace after reaching 2.37 billion bushels.-NAFB

Corn sales strong last week, soybean sales struggled

Critics are decrying the reorganization plan for USDA announced last week by Agriculture Secretary Brooke Rollins.  In a written statement, Amy Klobuchar, the Democratic ranking member of the Senate Ag Committee, condemned the plan as a “half-baked proposal” and called for USDA officials to appear before Congress. “A reorganization of this scale will impact USDA’s ability to provide critical services to Americans and undermine the agency’s trusted expertise that farmers and families count on … we must have an immediate hearing before more damage is done.”

Rebecca Wolf, senior policy analyst at Food &amp; Water Watch Senior Food, a non-profit research and advocacy group, said, “(The) move further guts the government’s ability to protect public health, the environment and food safety. The real-world consequences will be severe, directly affecting people’s lives.” The reorganization is at least partly a cost-cutting measure, according to Rollins, and the relocated staff could see significant salary reductions due to lower rates paid outside the capital due to differences in the cost of living.

Critics are decrying the reorganization plan for USDA announced last week by Agriculture Secretary Brooke Rollins. In a written statement, Amy Klobuchar, the Democratic ranking member of the Senate Ag Committee, condemned the plan as a “half-baked proposal” and called for USDA officials to appear before Congress. “A reorganization of this scale will impact USDA’s ability to provide critical services to Americans and undermine the agency’s trusted expertise that farmers and families count on … we must have an immediate hearing before more damage is done.”Rebecca Wolf, senior policy analyst at Food &amp; Water Watch Senior Food, a non-profit research and advocacy group, said, “(The) move further guts the government’s ability to protect public health, the environment and food safety. The real-world consequences will be severe, directly affecting people’s lives.” The reorganization is at least partly a cost-cutting measure, according to Rollins, and the relocated staff could see significant salary reductions due to lower rates paid outside the capital due to differences in the cost of living.-NAFB

USDA to cut salaries and relocate staff

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

September corn closed down 9 cents and December corn was down 8 3/4 cents. August soybeans closed down 29 cents and November soybeans were down 14 3/4 cents. September KC wheat closed down 2 1/2 cents, September Chicago wheat was down 8 cents and September Minneapolis wheat was down 10 3/4 cents.

Friday's session marked a quiet close to an overall dull week of trade which saw most crop prices drift lower, giving back roughly half of last week's gains in the process as traders clearly are seeing little urgency at this point to commit to sustained buying. Traders currently are betting friendly growing weather forecast through the first week of August means big U.S. yields and ample supplies of commodities by fall 2025. In outside markets, investors have remained confident through the week's trade deal announcements as well as President Trump saying during his visit to the Federal Reserve on Thursday that there are no current plans to attempt to remove Fed Chair Powell from his position. The U.S. dollar is working toward a second session higher while the S&amp;P500 is pressing further into record highs.

The live cattle complex traded slightly higher into Friday's close as traders were optimistic about what this week's fed cash cattle market was going to do. Also lending positive support to the live cattle complex was the fact that the afternoon's Cattle on Feed report is expected to showcase fewer placements and lighter on-feed totals, and don't forget that the semi annual Cattle Inventory report was also going to be released later this afternoon as well. A few bids are currently on the table at $230 in Kansas, $238 live in the North and $376 dressed. Packers are undoubtedly going to need to get more aggressive before the week's end, as they can't afford to go short-bought into next week's trade.

The feeder cattle complex also used the day to trade higher as its contracts were conformably trading well over $1.00 stronger in most of the nearby months. With the continued support of red-hot feeder cattle demand in the countryside, traders have all the support they could ever wish for.

The lean hog complex again traded lower as the market seems skeptical to advance much higher as traders are facing some resistance pressure. Pork demand and cash prices have been supportive this past week, but with traders unwilling to challenge the futures complex's resistance, lower is the only direction for the market to trade.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/25144616/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:September corn closed down 1 3/4 cents and December corn was down 3/4 cents. August soybeans closed down 4 1/4 cents and November soybeans were down 4 1/4 cents. September KC wheat closed down 4 cents, September Chicago wheat was down 4 1/2 cents, September Minneapolis wheat was up 1/2 cents.For the week:September corn closed down 9 cents and December corn was down 8 3/4 cents. August soybeans closed down 29 cents and November soybeans were down 14 3/4 cents. September KC wheat closed down 2 1/2 cents, September Chicago wheat was down 8 cents and September Minneapolis wheat was down 10 3/4 cents.Friday's session marked a quiet close to an overall dull week of trade which saw most crop prices drift lower, giving back roughly half of last week's gains in the process as traders clearly are seeing little urgency at this point to commit to sustained buying. Traders currently are betting friendly growing weather forecast through the first week of August means big U.S. yields and ample supplies of commodities by fall 2025. In outside markets, investors have remained confident through the week's trade deal announcements as well as President Trump saying during his visit to the Federal Reserve on Thursday that there are no current plans to attempt to remove Fed Chair Powell from his position. The U.S. dollar is working toward a second session higher while the S&amp;P500 is pressing further into record highs.LIVESTOCK:The live cattle complex traded slightly higher into Friday's close as traders were optimistic about what this week's fed cash cattle market was going to do. Also lending positive support to the live cattle complex was the fact that the afternoon's Cattle on Feed report is expected to showcase fewer placements and lighter on-feed totals, and don't forget that the semi annual Cattle Inventory report was also going to be released later this afternoon as well. A few bids are currently on the table at $230 in Kansas, $238 live in the North and $376 dressed. Packers are undoubtedly going to need to get more aggressive before the week's end, as they can't afford to go short-bought into next week's trade.The feeder cattle complex also used the day to trade higher as its contracts were conformably trading well over $1.00 stronger in most of the nearby months. With the continued support of red-hot feeder cattle demand in the countryside, traders have all the support they could ever wish for.The lean hog complex again traded lower as the market seems skeptical to advance much higher as traders are facing some resistance pressure. Pork demand and cash prices have been supportive this past week, but with traders unwilling to challenge the futures complex's resistance, lower is the only direction for the market to trade.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/25144616/web-closing-markets.mp3">Click HERE for audio</a>

Ag Secretary Brooke Rollins announced a new reorganization plan for the USDA. The plan refocuses its core operations to better align with its founding mission of supporting U.S. farming, ranching, and forestry. The reorganization plan consists of four parts: ensuring the size of USDA’s workforce aligns with available financial resources and agricultural priorities; bringing USDA closer to its customers; eliminating management layers and bureaucracy; and consolidating redundant support functions. 

To bring USDA closer to the people it serves while providing a more affordable cost of living for employees, USDA has developed a phased in plan to relocate much of its agency headquarters and staff out of the Washington, D.C. area to five hub locations. USDA’s five hub locations are Raleigh, Kansas City, Indianapolis,  Fort Collins, and Salt Lake City. 

Ag Secretary Brooke Rollins announced a new reorganization plan for the USDA. The plan refocuses its core operations to better align with its founding mission of supporting U.S. farming, ranching, and forestry. The reorganization plan consists of four parts: ensuring the size of USDA’s workforce aligns with available financial resources and agricultural priorities; bringing USDA closer to its customers; eliminating management layers and bureaucracy; and consolidating redundant support functions. To bring USDA closer to the people it serves while providing a more affordable cost of living for employees, USDA has developed a phased in plan to relocate much of its agency headquarters and staff out of the Washington, D.C. area to five hub locations. USDA’s five hub locations are Raleigh, Kansas City, Indianapolis, Fort Collins, and Salt Lake City. -NAFB

Rollins announces USDA reorganization

In the latest trade developments, China has reportedly ended the tariff exclusion on American agricultural products. Fresh Fruit Portal says China’s government hasn’t issued an official statement yet. Importers in China have reported to the Foreign Agricultural Service that applications for market-based tariff exclusions will no longer be accepted beginning on August 1. Some of the products include grains, alcohol, leather, and fruits. 

Importers also said the previously approved exclusions will only be valid until September 14. The affected products were previously eligible for tariff exclusions under a process established in March 2020 by the State Council Tariff Commission of China. The process allowed importers to apply for waivers from the retaliatory Section 301 tariffs on certain U.S. products. Although the process did allow some items outside the predefined list, it covered a total of 696 tariff lines, of which approximately 150 lines apply to U.S. agricultural products.  

In the latest trade developments, China has reportedly ended the tariff exclusion on American agricultural products. Fresh Fruit Portal says China’s government hasn’t issued an official statement yet. Importers in China have reported to the Foreign Agricultural Service that applications for market-based tariff exclusions will no longer be accepted beginning on August 1. Some of the products include grains, alcohol, leather, and fruits. Importers also said the previously approved exclusions will only be valid until September 14. The affected products were previously eligible for tariff exclusions under a process established in March 2020 by the State Council Tariff Commission of China. The process allowed importers to apply for waivers from the retaliatory Section 301 tariffs on certain U.S. products. Although the process did allow some items outside the predefined list, it covered a total of 696 tariff lines, of which approximately 150 lines apply to U.S. agricultural products. -NAFB

China suspends tariff exclusion for U.S. ag products

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

Row crops traded with little conviction and low volumes behind the markets for Thursday. Export data for last week offered few new insights, although a USDA reporting error which mistakenly gave China credit for a 2025-26 corn purchase briefly caused a stir before correction within the hour. Overall, weather remains the feature of the trade, with few changes on that front with the vast majority of the U.S. grain belt still expecting good precipitation coverage over the next 15 days, and the above-average temperatures expected to ease beginning next week as well. Outside markets were mixed for Thursday with equities mixed, supported by recent trade optimism but left with an uneasy feeling on reports that President Trump plans to visit the Federal Reserve. Energy markets were mixed with NYMEX crude oil attempting a recovery from an 8-day losing streak.

The live cattle complex rounded out the day lower as traders merely sat on their hands, waiting for time to pass by and hoping that they'd see some support from the market's fed cash cattle trade. August live cattle closed $1.22 lower at $225.80, October live cattle closed $1.35 lower at $222.15 and December live cattle closed $1.25 lower at $222.65. Bids were offered in both regions throughout the day, but as feedlot managers waited for packers to up their bids, time slipped by, and very few cattle traded throughout the day. There was just a handful of cattle traded in the South at $231, which is $1.00 higher than last week's weighted average.

The feeder cattle complex also closed lower as traders were sheepish to push the market any higher following the big gains seen earlier in the week. But today's move wasn't a choice made because of poor demand in the countryside, but rather because of skepticism from the futures complex as traders worry about over-extending the market. August feeders closed $2.62 lower at $328.90, September feeders closed $2.25 lower at $329.65 and October feeders closed $2.30 lower at $328.35.

The lean hog complex chopped merely sideways throughout the day as traders want to advance the contracts but didn't quite see enough fundamental support to justify doing so. August lean hogs closed $0.27 lower at $108.20, October lean hogs closed $0.20 higher at $91.10 and December lean hogs closed $0.35 higher at $82.92. It was impressive that pork cutout values closed higher at all, with the rib alone being down over $6.00.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/24163911/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:September corn closed up 3 1/4 cents and December corn was up 3 1/4 cents. August soybeans closed down 1 1/2 cents and November soybeans were up 1 1/2 cents. September KC wheat closed up 5 cents, September Chicago wheat was up 1 cent, September Minneapolis wheat was down 2 1/2 cents.Row crops traded with little conviction and low volumes behind the markets for Thursday. Export data for last week offered few new insights, although a USDA reporting error which mistakenly gave China credit for a 2025-26 corn purchase briefly caused a stir before correction within the hour. Overall, weather remains the feature of the trade, with few changes on that front with the vast majority of the U.S. grain belt still expecting good precipitation coverage over the next 15 days, and the above-average temperatures expected to ease beginning next week as well. Outside markets were mixed for Thursday with equities mixed, supported by recent trade optimism but left with an uneasy feeling on reports that President Trump plans to visit the Federal Reserve. Energy markets were mixed with NYMEX crude oil attempting a recovery from an 8-day losing streak.LIVESTOCK:The live cattle complex rounded out the day lower as traders merely sat on their hands, waiting for time to pass by and hoping that they'd see some support from the market's fed cash cattle trade. August live cattle closed $1.22 lower at $225.80, October live cattle closed $1.35 lower at $222.15 and December live cattle closed $1.25 lower at $222.65. Bids were offered in both regions throughout the day, but as feedlot managers waited for packers to up their bids, time slipped by, and very few cattle traded throughout the day. There was just a handful of cattle traded in the South at $231, which is $1.00 higher than last week's weighted average. The feeder cattle complex also closed lower as traders were sheepish to push the market any higher following the big gains seen earlier in the week. But today's move wasn't a choice made because of poor demand in the countryside, but rather because of skepticism from the futures complex as traders worry about over-extending the market. August feeders closed $2.62 lower at $328.90, September feeders closed $2.25 lower at $329.65 and October feeders closed $2.30 lower at $328.35. The lean hog complex chopped merely sideways throughout the day as traders want to advance the contracts but didn't quite see enough fundamental support to justify doing so. August lean hogs closed $0.27 lower at $108.20, October lean hogs closed $0.20 higher at $91.10 and December lean hogs closed $0.35 higher at $82.92. It was impressive that pork cutout values closed higher at all, with the rib alone being down over $6.00.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/24163911/web-closing-markets.mp3">Click HERE for audio</a>

September corn closed down 3/4 cents and December corn was down 1/2 cents. August soybeans closed down 4 1/2 cents and November soybeans were down 2 3/4 cents. September KC wheat closed down 9 3/4 cents, September Chicago wheat was down 9 cents, September Minneapolis wheat was down 3 3/4 cents.

It was another mixed session for row crop markets on Wednesday as an early spark stemming from President Trump's announcement of a trade deal with Japan, as well as early details on an agreement with the Philippines and framework for the deal with Indonesia as well, was quickly extinguished as trader focus remains on friendly growing season weather and a seasonal tendency for prices to decline through late summer into fall. Outside markets were mixed with equities higher on the trade announcements, while energy markets were mostly lower with NYMEX crude oil futures on their way to an eighth consecutive lower session.

It's another rip-roaring, rallying day for the live cattle complex as the contracts etched into new territory yet again today. It could potentially be that traders are excited to hear about the trade deal that President Trump worked out with Japan, as it will obviously open up more opportunities for more beef to be marketed. Still today, no cash cattle trade has developed, but asking prices are now noted in the South at $232 but remain unestablished still in the North.

Up, up and away went the feeder cattle complex as the market saw deferred contracts trade as much as $4.50 higher into Wednesday's noon hour. More than anything, it seems as though traders are not only recognizing the fact that supplies are going to remain tight, but that they're also adjusting their position from a technical standpoint because of it.

The cattle contracts may be rallying but the lean hog complex again traded lower as traders remain stalemate in their hopes to advance the complex. This morning, pork demand was higher so traders can't point to disappointing market fundamentals. It seems as though traders are running into some resistance pressure, which is hindering the contracts from trading any higher.

Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/23134652/web-closing-markets.mp3">HERE</a> for audio

By: NATHAN STUEDLEGRAINS:September corn closed down 3/4 cents and December corn was down 1/2 cents. August soybeans closed down 4 1/2 cents and November soybeans were down 2 3/4 cents. September KC wheat closed down 9 3/4 cents, September Chicago wheat was down 9 cents, September Minneapolis wheat was down 3 3/4 cents.It was another mixed session for row crop markets on Wednesday as an early spark stemming from President Trump's announcement of a trade deal with Japan, as well as early details on an agreement with the Philippines and framework for the deal with Indonesia as well, was quickly extinguished as trader focus remains on friendly growing season weather and a seasonal tendency for prices to decline through late summer into fall. Outside markets were mixed with equities higher on the trade announcements, while energy markets were mostly lower with NYMEX crude oil futures on their way to an eighth consecutive lower session.LIVESTOCK:It's another rip-roaring, rallying day for the live cattle complex as the contracts etched into new territory yet again today. It could potentially be that traders are excited to hear about the trade deal that President Trump worked out with Japan, as it will obviously open up more opportunities for more beef to be marketed. Still today, no cash cattle trade has developed, but asking prices are now noted in the South at $232 but remain unestablished still in the North.Up, up and away went the feeder cattle complex as the market saw deferred contracts trade as much as $4.50 higher into Wednesday's noon hour. More than anything, it seems as though traders are not only recognizing the fact that supplies are going to remain tight, but that they're also adjusting their position from a technical standpoint because of it. The cattle contracts may be rallying but the lean hog complex again traded lower as traders remain stalemate in their hopes to advance the complex. This morning, pork demand was higher so traders can't point to disappointing market fundamentals. It seems as though traders are running into some resistance pressure, which is hindering the contracts from trading any higher. Click <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/07/23134652/web-closing-markets.mp3">HERE</a> for audio

Data from USDA shows inspections of wheat and beans for offshore delivery rose week to week while corn assessments declined. Wheat inspections totaled 732,000 metric tons in the seven days ending on July 17. The agency report says that’s up from 446,000 tons a week earlier. Examinations of soybeans for offshore delivery increased to 365,000 metric tons from just over 151,000 tons during the previous week. Corn saw the only decline on the week, falling to 983,000 metric tons, which the USDA said was down from 1.3 million a week prior. 

Since the start of the marketing year on September 1, corn inspections total nearly 59 million tons versus 45.6 million last year. Soybean inspections now total 46.8 million tons, up from 42.4 million at the same point last year, and wheat examinations since the marketing year began June 1 are at three million metric tons, up from 2.6 million a year ago. 

Data from USDA shows inspections of wheat and beans for offshore delivery rose week to week while corn assessments declined. Wheat inspections totaled 732,000 metric tons in the seven days ending on July 17. The agency report says that’s up from 446,000 tons a week earlier. Examinations of soybeans for offshore delivery increased to 365,000 metric tons from just over 151,000 tons during the previous week. Corn saw the only decline on the week, falling to 983,000 metric tons, which the USDA said was down from 1.3 million a week prior. Since the start of the marketing year on September 1, corn inspections total nearly 59 million tons versus 45.6 million last year. Soybean inspections now total 46.8 million tons, up from 42.4 million at the same point last year, and wheat examinations since the marketing year began June 1 are at three million metric tons, up from 2.6 million a year ago. -NAFB

Weekly wheat, bean inspections increase

Union Pacific and Norfolk Southern are in merger talks to create the largest railroad in North America that would connect the East and West Coasts. The merger discussions began during the first quarter of 2025. It would combine the largest and smallest of the country’s six major freight railroads. Both railroads declined to comment. 

Within the industry, reports say there is a lot of debate over the merger and whether it would be approved by the Surface Transportation Board. The questions come despite regulators approving the deal that created CPKC railroad two years ago with the Canadian Pacific’s $31 billion acquisition of Kansas City Southern Railroad. That merger combined the two smallest major railroads in North America and left only six major freight railroads. But at the time, it was the first approved merger in 20 years.

Union Pacific and Norfolk Southern are in merger talks to create the largest railroad in North America that would connect the East and West Coasts. The merger discussions began during the first quarter of 2025. It would combine the largest and smallest of the country’s six major freight railroads. Both railroads declined to comment. Within the industry, reports say there is a lot of debate over the merger and whether it would be approved by the Surface Transportation Board. The questions come despite regulators approving the deal that created CPKC railroad two years ago with the Canadian Pacific’s $31 billion acquisition of Kansas City Southern Railroad. That merger combined the two smallest major railroads in North America and left only six major freight railroads. But at the time, it was the first approved merger in 20 years.-NAFB

Grain carriers discuss potential merger

September corn closed down 4 1/2 cents per bushel at $3.99 1/4 and December corn was down 4 1/4 cents at $4.18. November soybeans closed down 1/2 cent at $10.25 1/2 and September soybeans were down 2 1/2 cents at $10.08. September KC wheat closed up 7 1/2 cents at $5.33 1/4, September Chicago wheat was up 7 1/4 cents at $5.49 1/2 and September Minneapolis wheat was up 0.05 cents at $5.91.

Following the third consecutive week that corn good-to-excellent ratings stayed at an impressive 74%, corn futures leaked lower for a second straight day. Favorable weather in the extended forecast also added to the bearish tone. Soybeans were mixed to lower, with November falling slightly after a two-point decline in ratings. All three wheat markets were very firm on falling spring wheat conditions.

As time waged on, the live cattle complex turned a little more bullish throughout the day. Initially at the day's start, most of the nearby contracts traded lower, but as the morning progressed, the bullish nature of the market's deferred contracts slowly helped the nearby contracts grow more friendly to the idea of trading higher as well. Some of traders' skepticism comes from the sheer fact that the market is already trading at an all-time high. Also, not to mention the fact that later this week the monthly Cattle on Feed report will be unveiled and it's yet to be seen what this week's fed cash cattle market is going to do. So, all that being said, deep down it seems as though traders want to continue to support the complex, but there are plenty of variables up in the air right now and they don't want to overextend the market. The nearby contracts did finish the day only slightly lower, with the deferreds into the green. No bids or asking prices have surfaced in the cash cattle market.

The live cattle complex took a little bit, getting its bearings straight for the day, but the feeder cattle complex had its mission set in stone before the day even started -- continue to push the market higher. And from the day's initial opening bell, the market did indeed trade higher. Helping spur on traders' ambitious attitude has been the continued demand in the countryside, which continues to be a string of higher prices, nearly each and every week.

Although mid-morning pork cutout values were lower, the lean hog complex continued to trade mostly higher through Tuesday's trade. If it weren't for the butt's $4.12 decline and the rib's $3.01, the carcass price may have been able to hold at least steady.

By: NATHAN STUEDLEGRAINS:September corn closed down 4 1/2 cents per bushel at $3.99 1/4 and December corn was down 4 1/4 cents at $4.18. November soybeans closed down 1/2 cent at $10.25 1/2 and September soybeans were down 2 1/2 cents at $10.08. September KC wheat closed up 7 1/2 cents at $5.33 1/4, September Chicago wheat was up 7 1/4 cents at $5.49 1/2 and September Minneapolis wheat was up 0.05 cents at $5.91.Following the third consecutive week that corn good-to-excellent ratings stayed at an impressive 74%, corn futures leaked lower for a second straight day. Favorable weather in the extended forecast also added to the bearish tone. Soybeans were mixed to lower, with November falling slightly after a two-point decline in ratings. All three wheat markets were very firm on falling spring wheat conditions.LIVESTOCK:As time waged on, the live cattle complex turned a little more bullish throughout the day. Initially at the day's start, most of the nearby contracts traded lower, but as the morning progressed, the bullish nature of the market's deferred contracts slowly helped the nearby contracts grow more friendly to the idea of trading higher as well. Some of traders' skepticism comes from the sheer fact that the market is already trading at an all-time high. Also, not to mention the fact that later this week the monthly Cattle on Feed report will be unveiled and it's yet to be seen what this week's fed cash cattle market is going to do. So, all that being said, deep down it seems as though traders want to continue to support the complex, but there are plenty of variables up in the air right now and they don't want to overextend the market. The nearby contracts did finish the day only slightly lower, with the deferreds into the green. No bids or asking prices have surfaced in the cash cattle market.The live cattle complex took a little bit, getting its bearings straight for the day, but the feeder cattle complex had its mission set in stone before the day even started -- continue to push the market higher. And from the day's initial opening bell, the market did indeed trade higher. Helping spur on traders' ambitious attitude has been the continued demand in the countryside, which continues to be a string of higher prices, nearly each and every week.Although mid-morning pork cutout values were lower, the lean hog complex continued to trade mostly higher through Tuesday's trade. If it weren't for the butt's $4.12 decline and the rib's $3.01, the carcass price may have been able to hold at least steady.Click HERE for audio

The National FFA Organization recently announced a partnership with Vivayic, the nation’s largest learning solution provider for agriculture, to create virtual leadership labs. This unprecedented collection of modules will use a challenge-based learning approach to help prepare FFA members for success. Development of these online programs will start this Fall, with plans to make the leadership labs available to FFA members by the summer of 2026. 

Christine White, the chief program officer at the National FFA Organization, says “We believe partnering with Vivayic on this project is an exciting step forward in making leadership education more accessible, engaging, and impactful for our members,” and “As we expand to reach more than one million members, this collaboration ensures we’re combining innovation with real-world insight to equip every young leader, no matter where they are, with the tools they need to grow and succeed.” Once complete, the labs will be free and available online. 

The National FFA Organization recently announced a partnership with Vivayic, the nation’s largest learning solution provider for agriculture, to create virtual leadership labs. This unprecedented collection of modules will use a challenge-based learning approach to help prepare FFA members for success. Development of these online programs will start this Fall, with plans to make the leadership labs available to FFA members by the summer of 2026. Christine White, the chief program officer at the National FFA Organization, says “We believe partnering with Vivayic on this project is an exciting step forward in making leadership education more accessible, engaging, and impactful for our members,” and “As we expand to reach more than one million members, this collaboration ensures we’re combining innovation with real-world insight to equip every young leader, no matter where they are, with the tools they need to grow and succeed.” Once complete, the labs will be free and available online. -NAFB

National FFA working on new leadership labs

Ground beef prices continue hitting record-high levels. Reports say that’s despite still shrinking cattle herds and import restrictions set to push costs even higher. Government data shows the average price of a pound of 100 percent ground beef rose to $6.12 in June, 12 percent higher than last year. That’s also up from $5.98 in May and $5.47 in June. 

Industry experts say this trend shows no signs of slowing down, which means that there may be upward pressure on prices through 2026 and beyond. The average price of all uncooked beef steaks rose eight percent to $11.49 per pound. It is no secret, that the U.S. is dealing with significantly lower beef supplies, and that’s what is driving up the price of beef right now. The number of U.S. farms, including ranches, dropped by seven percent between 2017 and 2022, and it’s taking a long time to rebuild U.S. herds. 

Ground beef prices continue hitting record-high levels. Reports say that’s despite still shrinking cattle herds and import restrictions set to push costs even higher. Government data shows the average price of a pound of 100 percent ground beef rose to $6.12 in June, 12 percent higher than last year. That’s also up from $5.98 in May and $5.47 in June. Industry experts say this trend shows no signs of slowing down, which means that there may be upward pressure on prices through 2026 and beyond. The average price of all uncooked beef steaks rose eight percent to $11.49 per pound. It is no secret, that the U.S. is dealing with significantly lower beef supplies, and that’s what is driving up the price of beef right now. The number of U.S. farms, including ranches, dropped by seven percent between 2017 and 2022, and it’s taking a long time to rebuild U.S. herds. -NAFB