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

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

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

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

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

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

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

Commodity markets daily recap

According to the Association of Equipment Manufacturers, the total sales of agricultural tractors in the U.S. dropped almost 20 percent, while combine sales fell 35 percent compared to November 2024. Canadian sales of combines increased 25 percent in November compared to the same time last year, while sales of agricultural tractors dropped seven percent in the same time frame. 

“This month’s numbers reflect the continued economic pressure farmers have been navigating for several months,” said Association of Equipment Manufacturers Senior Vice President Curt Blades. “While we’re seeing a short-term slowdown in sales, equipment manufacturers remain focused on supporting farmers with the tools and technologies that deliver efficiency and long-term value.” He also said as the agricultural economy moves into 2026, AEM will continue watching market conditions closely and remains confident in the industry’s underlying strength. 

According to the Association of Equipment Manufacturers, the total sales of agricultural tractors in the U.S. dropped almost 20 percent, while combine sales fell 35 percent compared to November 2024. Canadian sales of combines increased 25 percent in November compared to the same time last year, while sales of agricultural tractors dropped seven percent in the same time frame. “This month’s numbers reflect the continued economic pressure farmers have been navigating for several months,” said Association of Equipment Manufacturers Senior Vice President Curt Blades. “While we’re seeing a short-term slowdown in sales, equipment manufacturers remain focused on supporting farmers with the tools and technologies that deliver efficiency and long-term value.” He also said as the agricultural economy moves into 2026, AEM will continue watching market conditions closely and remains confident in the industry’s underlying strength. -NAFB

Tractor and combine sales drop in November

The Trump administration isn’t likely to finalize the 2026 biofuel-blending quotas before the end of 2025. Three sources close to the situation told Reuters that this will only extend uncertainty over a policy closely watched by rival oil and farm sectors. The Environmental Protection Agency has scheduled meetings with industry stakeholders on the quota rule in early 2026, which is a sign the final rule won’t be announced until next year. 

The EPA declined to give a specific timeframe on when a final rule could be reached, noting that it’s still reviewing public comments on the volume requirements. A delay in finalizing the mandate is troublesome because fuel makers, farmers, and commodity traders use them to lock in supply contracts, hedge the volatile crop and energy markets, and justify investments in new production capacity. Earlier this year, the EPA proposed raising total renewable fuel requirements for 2026 and 2027.

The Trump administration isn’t likely to finalize the 2026 biofuel-blending quotas before the end of 2025. Three sources close to the situation told Reuters that this will only extend uncertainty over a policy closely watched by rival oil and farm sectors. The Environmental Protection Agency has scheduled meetings with industry stakeholders on the quota rule in early 2026, which is a sign the final rule won’t be announced until next year. The EPA declined to give a specific timeframe on when a final rule could be reached, noting that it’s still reviewing public comments on the volume requirements. A delay in finalizing the mandate is troublesome because fuel makers, farmers, and commodity traders use them to lock in supply contracts, hedge the volatile crop and energy markets, and justify investments in new production capacity. Earlier this year, the EPA proposed raising total renewable fuel requirements for 2026 and 2027.-NAFB

2026 biofuel quotas likely not coming this year

March corn closed down 5 3/4 cents and May corn was down 5 1/4 cents. January soybeans closed down 16 3/4 cents and March soybeans were down 16 cents. March KC wheat closed down 4 1/4 cents, March Chicago wheat was down 4 1/4 cents, March Minneapolis wheat was down 1/2 cents.

March corn closed down 4 cents and March corn was down 3 1/4 cents. January soybeans closed down 28 1/2 cents and March soybeans were down 29 1/4 cents. March KC wheat closed down 13 1/4 cents, March Chicago wheat was down 6 1/2 cents and March Minneapolis wheat was up 2 3/4 cents.

The mostly bearish price action in row-crop futures on Friday was not unique just to agricultural products, with heavy selling seen across macroeconomic markets as well from equities to energies. In row crops, soybeans again led the way lower as bears remain in full control of momentum currently; although the market is becoming a touch oversold from a technical standpoint. Corn and wheat markets were lower as well with corn lower on the soybean weakness and wheat markets initially holding stubbornly to short gains were ultimately unable to trade against the overarching bearish tone to close the week. Looking at outside markets, essentially the only major indicator which was higher for Friday was the U.S. Dollar Index, snapping a streak of two lower days primarily due to higher Treasury yields.

Following Thursday's rally, the live cattle complex once again traded lower as the market still doesn't believe it possesses enough support to challenge the market's resistance at its 100-day moving average. One could argue that the rally this week in the fed cash cattle market should be enough support to help traders make that move, but from a technical standpoint, traders still aren't confident about that leap. If traders were to challenge the resistance at the 100-day moving average, they'd need to believe that there's enough support in the marketplace to not only conquer that threshold, but also sustain a position above that mark as a move over the 100-day moving average would signal continued support, which is likely what traders are struggling with most at this point given that they obviously see that the market holds ample fundamental support this week, but don't know what's in store for the upcoming holiday weeks. So far this week Northern dressed cattle have traded at mostly $353 to $355, which is $10.00 to $12.00 higher than last week's weighted average, and Southern live cattle have traded at mostly $230, which is $6.00 higher than last week's weighted average. Boxed beef prices are mixed: choice down $0.85 ($357.26) and select up $1.32 ($344.87) with a movement of 89 loads (61.32 loads of choice, 8.07 loads of select, 15.07 loads of trim and 4.20 loads of ground beef).

The feeder cattle complex doesn't seem to believe it has enough support either to sustain its position above the market's 100-day moving average, and it's currently trading below that threshold. Today's slight regression doesn't likely mean that traders believe the market needs to again trade vastly lower, but rather that they potentially jumped the gun on challenging the resistance at the market's 100-day moving average.

While the cattle contracts were trading mostly lower, the lean hog complex fought to keep its upward momentum. Today's support mostly came from traders' willingness to continue to advance the complex as pork cash prices and pork cutout values were lower.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/12140312/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed down 5 3/4 cents and May corn was down 5 1/4 cents. January soybeans closed down 16 3/4 cents and March soybeans were down 16 cents. March KC wheat closed down 4 1/4 cents, March Chicago wheat was down 4 1/4 cents, March Minneapolis wheat was down 1/2 cents.For the Week:March corn closed down 4 cents and March corn was down 3 1/4 cents. January soybeans closed down 28 1/2 cents and March soybeans were down 29 1/4 cents. March KC wheat closed down 13 1/4 cents, March Chicago wheat was down 6 1/2 cents and March Minneapolis wheat was up 2 3/4 cents.The mostly bearish price action in row-crop futures on Friday was not unique just to agricultural products, with heavy selling seen across macroeconomic markets as well from equities to energies. In row crops, soybeans again led the way lower as bears remain in full control of momentum currently; although the market is becoming a touch oversold from a technical standpoint. Corn and wheat markets were lower as well with corn lower on the soybean weakness and wheat markets initially holding stubbornly to short gains were ultimately unable to trade against the overarching bearish tone to close the week. Looking at outside markets, essentially the only major indicator which was higher for Friday was the U.S. Dollar Index, snapping a streak of two lower days primarily due to higher Treasury yields.LIVESTOCK:Following Thursday's rally, the live cattle complex once again traded lower as the market still doesn't believe it possesses enough support to challenge the market's resistance at its 100-day moving average. One could argue that the rally this week in the fed cash cattle market should be enough support to help traders make that move, but from a technical standpoint, traders still aren't confident about that leap. If traders were to challenge the resistance at the 100-day moving average, they'd need to believe that there's enough support in the marketplace to not only conquer that threshold, but also sustain a position above that mark as a move over the 100-day moving average would signal continued support, which is likely what traders are struggling with most at this point given that they obviously see that the market holds ample fundamental support this week, but don't know what's in store for the upcoming holiday weeks. So far this week Northern dressed cattle have traded at mostly $353 to $355, which is $10.00 to $12.00 higher than last week's weighted average, and Southern live cattle have traded at mostly $230, which is $6.00 higher than last week's weighted average. Boxed beef prices are mixed: choice down $0.85 ($357.26) and select up $1.32 ($344.87) with a movement of 89 loads (61.32 loads of choice, 8.07 loads of select, 15.07 loads of trim and 4.20 loads of ground beef).The feeder cattle complex doesn't seem to believe it has enough support either to sustain its position above the market's 100-day moving average, and it's currently trading below that threshold. Today's slight regression doesn't likely mean that traders believe the market needs to again trade vastly lower, but rather that they potentially jumped the gun on challenging the resistance at the market's 100-day moving average.While the cattle contracts were trading mostly lower, the lean hog complex fought to keep its upward momentum. Today's support mostly came from traders' willingness to continue to advance the complex as pork cash prices and pork cutout values were lower.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/12140312/web-closing-markets.mp3">Click HERE for audio</a>

A bipartisan group of 23 senators called on the U.S. Department of Agriculture to expedite development of a comprehensive bird flu vaccination strategy amid rising infections in livestock flocks. Lawmakers warn that outbreaks of highly pathogenic avian influenza, or HPAI, have killed millions of birds nationwide, threatening poultry producers already coping with supply chain pressures and volatile markets. 

While USDA announced plans earlier in the year to pursue a vaccine, senators say the lack of a clear timeline and implementation framework has left farmers without a dependable tool to protect flocks. The group emphasized that any vaccination approach should be grounded in scientific research and include input from producers, veterinarians and trade stakeholders. They also highlighted concerns about how vaccination policies could affect international trade if foreign partners remain wary of U.S. poultry exports. USDA has pledged research funding but has not yet released detailed operational plans. 

A bipartisan group of 23 senators called on the U.S. Department of Agriculture to expedite development of a comprehensive bird flu vaccination strategy amid rising infections in livestock flocks. Lawmakers warn that outbreaks of highly pathogenic avian influenza, or HPAI, have killed millions of birds nationwide, threatening poultry producers already coping with supply chain pressures and volatile markets. While USDA announced plans earlier in the year to pursue a vaccine, senators say the lack of a clear timeline and implementation framework has left farmers without a dependable tool to protect flocks. The group emphasized that any vaccination approach should be grounded in scientific research and include input from producers, veterinarians and trade stakeholders. They also highlighted concerns about how vaccination policies could affect international trade if foreign partners remain wary of U.S. poultry exports. USDA has pledged research funding but has not yet released detailed operational plans. -NAFB

Senators push USDA for faster bird flu vaccine plan

American farmers reacted to the federal government’s newly announced $12 billion aid package with cautious relief, saying the funds may help some producers but won’t offset major financial strains facing the industry. The payments, which are part of a one-time bridge program aimed at helping farmers manage high input costs and market disruptions, are designed to provide temporary relief as producers prepare for the upcoming planting season. 

However, growers and agricultural economists argue the amount will not fully cover losses tied to depressed commodity prices, reduced export demand and elevated expenses for fuel, fertilizer and labor. Some producers said while the support offers needed breathing room, it does not address ongoing structural challenges, including trade barriers that have limited market access for major crops. Farm leaders continue to urge policymakers to pursue long-term market solutions alongside emergency support. 

American farmers reacted to the federal government’s newly announced $12 billion aid package with cautious relief, saying the funds may help some producers but won’t offset major financial strains facing the industry. The payments, which are part of a one-time bridge program aimed at helping farmers manage high input costs and market disruptions, are designed to provide temporary relief as producers prepare for the upcoming planting season. However, growers and agricultural economists argue the amount will not fully cover losses tied to depressed commodity prices, reduced export demand and elevated expenses for fuel, fertilizer and labor. Some producers said while the support offers needed breathing room, it does not address ongoing structural challenges, including trade barriers that have limited market access for major crops. Farm leaders continue to urge policymakers to pursue long-term market solutions alongside emergency support. -NAFB

Farmers say new $12B aid still falls short 

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

Soybean futures alternated between marginal losses and gains multiple times through Tuesday's session, ultimately settling slightly higher. Meanwhile, corn and wheat futures were also very indecisive, with corn prices remaining in prevailing price range, and wheat futures themselves mixed, with lower Kansas City futures but higher Chicago and Minneapolis markets. In outside markets, the Dow Jones Industrial Average has moved to new record highs on Thursday following the interest rate cut by the Federal Reserve on Wednesday. Meanwhile, energy prices provided some pressure to Ag futures on Thursday, with crude oil futures lower for the third session out of the past four, hitting the lowest price for most active futures since mid-October, which is among the lowest of 2025 as well.

The live cattle complex grew more brave as the market pushed a $1.00 to $2.00 rally into Thursday's noon hour, but in doing so has grown increasingly closer to pushing the market's resistance at its 100-day moving average. But until this point, traders haven't been convinced that the market possesses enough support to break above that threshold. Upon seeing some sharply higher sales develop in the fed cash cattle market, traders have grown braver. A few deals have been marked this morning at $355 dressed in Nebraska, which is $12.00 higher than last week's weighted average. Boxed beef prices are mixed: choice down $0.42 ($358.94) and select up $0.77 ($345.65) with a movement of 114 loads (52.95 loads of choice, 9.31 loads of select, 40.08 loads of trim and 11.42 loads of ground beef).

The feeder cattle complex has taken the brave leap of faith as it's seeing its spot January contract trade above its 100-day moving average.With the bullish developments in the fed cash cattle market, there's a chance that the market could close with this momentum.

The lean hog complex has also broken through its resistance at $82.00 as the spot February contract is currently trading above $84.00. A bullish tone has seemed to overtake the livestock complex, which is helping lend the lean hog complex a little more support, and it's also favorable that pork cutout values were higher again this morning.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/11135302/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed up 2 1/4 cents and May corn was up 2 1/2 cents. January soybeans closed up 2 1/4 cents and March soybeans were up 1 3/4 cents. March KC wheat closed down 1 cent, March Chicago wheat was up 4 cents, March Minneapolis wheat was up 1 cent.Soybean futures alternated between marginal losses and gains multiple times through Tuesday's session, ultimately settling slightly higher. Meanwhile, corn and wheat futures were also very indecisive, with corn prices remaining in prevailing price range, and wheat futures themselves mixed, with lower Kansas City futures but higher Chicago and Minneapolis markets. In outside markets, the Dow Jones Industrial Average has moved to new record highs on Thursday following the interest rate cut by the Federal Reserve on Wednesday. Meanwhile, energy prices provided some pressure to Ag futures on Thursday, with crude oil futures lower for the third session out of the past four, hitting the lowest price for most active futures since mid-October, which is among the lowest of 2025 as well.LIVESTOCK:The live cattle complex grew more brave as the market pushed a $1.00 to $2.00 rally into Thursday's noon hour, but in doing so has grown increasingly closer to pushing the market's resistance at its 100-day moving average. But until this point, traders haven't been convinced that the market possesses enough support to break above that threshold. Upon seeing some sharply higher sales develop in the fed cash cattle market, traders have grown braver. A few deals have been marked this morning at $355 dressed in Nebraska, which is $12.00 higher than last week's weighted average. Boxed beef prices are mixed: choice down $0.42 ($358.94) and select up $0.77 ($345.65) with a movement of 114 loads (52.95 loads of choice, 9.31 loads of select, 40.08 loads of trim and 11.42 loads of ground beef).The feeder cattle complex has taken the brave leap of faith as it's seeing its spot January contract trade above its 100-day moving average.With the bullish developments in the fed cash cattle market, there's a chance that the market could close with this momentum.The lean hog complex has also broken through its resistance at $82.00 as the spot February contract is currently trading above $84.00. A bullish tone has seemed to overtake the livestock complex, which is helping lend the lean hog complex a little more support, and it's also favorable that pork cutout values were higher again this morning. <a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/11135302/web-closing-markets.mp3">Click HERE for audio</a>

A new CoBank Report on the forces shaping the economy in 2026 says ample grain supplies will likely continue burdening the markets in 2026. Global grain and oilseed markets are still oversupplied, but increased biofuels production and improving export conditions are boosting optimism that prices have passed their cyclical bottoms. Demand for U.S. grains and oilseeds will continue strengthening as low prices stimulate usage. 

Elsewhere, investment in efficiency is paying dividends in animal protein production as consumers continue demanding more. Despite rising prices for meat and poultry, animal protein demand is expected to remain strong in 2026. The combination of higher revenues and falling feed prices is boosting producer optimism for the year ahead, but not to the degree that expansion is expected to proliferate. Milk protein is also poised for an extended bull-market run as demand for protein-based dairy products continues to climb. 

A new CoBank Report on the forces shaping the economy in 2026 says ample grain supplies will likely continue burdening the markets in 2026. Global grain and oilseed markets are still oversupplied, but increased biofuels production and improving export conditions are boosting optimism that prices have passed their cyclical bottoms. Demand for U.S. grains and oilseeds will continue strengthening as low prices stimulate usage. Elsewhere, investment in efficiency is paying dividends in animal protein production as consumers continue demanding more. Despite rising prices for meat and poultry, animal protein demand is expected to remain strong in 2026. The combination of higher revenues and falling feed prices is boosting producer optimism for the year ahead, but not to the degree that expansion is expected to proliferate. Milk protein is also poised for an extended bull-market run as demand for protein-based dairy products continues to climb. -NAFB

CoBank: forces shaping the 2026 rural economy

The Sustainable Aviation Fuel Coalition’s Executive Director Allison Graab, applauded the introduction of the “Securing America’s Fuels Act” in the U.S. House. The SAF Act restores the full value of the credit for SAF and extends the entire 45Z tax credit through 2033. Senator Mike Flood (NE), one of the sponsors, said now is the right time for this legislation as America is on the cusp of the next great biofuels' revolution. “This Act is yet another way that Congress can grow our biofuels economy and encourage innovation that creates great jobs across Rural America,” Flood said. 

Kansas Representative, Sharice Davids said the SAF Act ensures that clean fuel production incentives are strong and long-term, so businesses, farmers, and innovators can plan for the future with confidence. “Sustainable aviation fuel isn’t just good for the environment, it’s good for our farmers, communities, and economy,” said Kansas Representative Tracey Mann. 

The Sustainable Aviation Fuel Coalition’s Executive Director Allison Graab, applauded the introduction of the “Securing America’s Fuels Act” in the U.S. House. The SAF Act restores the full value of the credit for SAF and extends the entire 45Z tax credit through 2033. Senator Mike Flood (NE), one of the sponsors, said now is the right time for this legislation as America is on the cusp of the next great biofuels' revolution. “This Act is yet another way that Congress can grow our biofuels economy and encourage innovation that creates great jobs across Rural America,” Flood said. Kansas Representative, Sharice Davids said the SAF Act ensures that clean fuel production incentives are strong and long-term, so businesses, farmers, and innovators can plan for the future with confidence. “Sustainable aviation fuel isn’t just good for the environment, it’s good for our farmers, communities, and economy,” said Kansas Representative Tracey Mann. -NAFB

SAF coalition applauds Securing America’s Fuels Act

March corn was up 4 1/4 cents per bushel, January soybeans were down 6 1/2 cents, March KC wheat was 1/4 cent lower steady, March Chicago wheat was 1/2 cent higher and March Minneapolis wheat was near unchanged.

Heading into the Tuesday close, except for corn, the December WASDE report turned out to be a dud. Corn export sales were increased by a more-than-expected 125 mb to a record large 3.2 billion bushels. The wheat and soy balance sheets in the U.S. were left untouched and that seems strange for beans with the tepid pace of China purchases. In wheat, major exporter supplies rose by close to 9 mmt, but that was pretty much in the market.

The live cattle complex got off to a mild rally this morning as the market desires to trade higher, but traders aren't confident that the market possesses enough support to break through the market's stiff resistance at its 40-day and 100-day moving averages just yet. Still no cash cattle trade has developed and bids and asking prices remain elusive at this point. Tuesday's WASDE report shared mixed news for cattle and beef markets of 2025 and 2026. Beef production for 2025 was increased as both fed and non-fed slaughter have increased, and as carcass weights continue to be at an all-time high. Beef production for 2025 is now estimated at 25,950 million pounds -- up 194 million pounds from last month's report. Beef production for 2026 increased from last month's report as well -- now estimated to total 25,725 million pounds, up 335 million pounds from last month's estimate.

The feeder cattle complex was traded right in line again this week with the live cattle market -- seeing more than enough fundamental support in feeder cattle sales in the countryside -- but without the technical reassurance from the live cattle market, traders aren't willing to push the contracts beyond the 40-day and 100-day moving averages just yet. Yesterday afternoon, feeder cattle prices were marked anywhere from $5.00 to $30.00 higher as demand has again perked back up in the countryside.

And just like the cattle complex, the market's resistance simply seems too stiff for the lean hog complex to challenge at this point in time, as most of the contracts traded lower into the day's closing bell. It's likely that the market will keep this slightly lower tone, as it's going to take substantial fundamental support to develop before traders will likely challenge that resistance threshold. And although midday pork cutout values were higher, traders are going to need to see consistent support as well. Tuesday's WASDE report shared mixed news for the hog and pork markets of 2025 and 2026. Pork production for 2025 was decreased by 25 million pounds, and pork production for 2026 remained steady at 27,475 million pounds for 2026.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/09141508/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn was up 4 1/4 cents per bushel, January soybeans were down 6 1/2 cents, March KC wheat was 1/4 cent lower steady, March Chicago wheat was 1/2 cent higher and March Minneapolis wheat was near unchanged. Heading into the Tuesday close, except for corn, the December WASDE report turned out to be a dud. Corn export sales were increased by a more-than-expected 125 mb to a record large 3.2 billion bushels. The wheat and soy balance sheets in the U.S. were left untouched and that seems strange for beans with the tepid pace of China purchases. In wheat, major exporter supplies rose by close to 9 mmt, but that was pretty much in the market.LIVESTOCK:The live cattle complex got off to a mild rally this morning as the market desires to trade higher, but traders aren't confident that the market possesses enough support to break through the market's stiff resistance at its 40-day and 100-day moving averages just yet. Still no cash cattle trade has developed and bids and asking prices remain elusive at this point. Tuesday's WASDE report shared mixed news for cattle and beef markets of 2025 and 2026. Beef production for 2025 was increased as both fed and non-fed slaughter have increased, and as carcass weights continue to be at an all-time high. Beef production for 2025 is now estimated at 25,950 million pounds -- up 194 million pounds from last month's report. Beef production for 2026 increased from last month's report as well -- now estimated to total 25,725 million pounds, up 335 million pounds from last month's estimate. The feeder cattle complex was traded right in line again this week with the live cattle market -- seeing more than enough fundamental support in feeder cattle sales in the countryside -- but without the technical reassurance from the live cattle market, traders aren't willing to push the contracts beyond the 40-day and 100-day moving averages just yet. Yesterday afternoon, feeder cattle prices were marked anywhere from $5.00 to $30.00 higher as demand has again perked back up in the countryside.And just like the cattle complex, the market's resistance simply seems too stiff for the lean hog complex to challenge at this point in time, as most of the contracts traded lower into the day's closing bell. It's likely that the market will keep this slightly lower tone, as it's going to take substantial fundamental support to develop before traders will likely challenge that resistance threshold. And although midday pork cutout values were higher, traders are going to need to see consistent support as well. Tuesday's WASDE report shared mixed news for the hog and pork markets of 2025 and 2026. Pork production for 2025 was decreased by 25 million pounds, and pork production for 2026 remained steady at 27,475 million pounds for 2026.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/09141508/web-closing-markets.mp3">Click HERE for audio</a>

Five major global gas companies announced a major new partnership to build a large-scale e-methane production facility in Nebraska. Biogenic CO2 sourced from ethanol producers is a critical feedstock for e-methane production, and the ability to secure CO2 delivery via pipeline is the primary reason this project targeted Nebraska. It’s a clear signal that international capital is flowing into the Midwest to secure reliable, low-carbon fuel sources for export markets. 

Methane, also known as natural gas, is usually drilled out of the ground, but can also chemically be formed. When burned, synthetic methane emits greenhouse gases but is considered less polluting due to its cleaner production process and re-use of CO2. A final investment decision is expected in 2027 on the facility, with startup scheduled for 2030. A statement from the five companies said the Live Oak Project will leverage Nebraska’s abundant biogenic CO2 resources, captured from bioethanol plants. 

Five major global gas companies announced a major new partnership to build a large-scale e-methane production facility in Nebraska. Biogenic CO2 sourced from ethanol producers is a critical feedstock for e-methane production, and the ability to secure CO2 delivery via pipeline is the primary reason this project targeted Nebraska. It’s a clear signal that international capital is flowing into the Midwest to secure reliable, low-carbon fuel sources for export markets. Methane, also known as natural gas, is usually drilled out of the ground, but can also chemically be formed. When burned, synthetic methane emits greenhouse gases but is considered less polluting due to its cleaner production process and re-use of CO2. A final investment decision is expected in 2027 on the facility, with startup scheduled for 2030. A statement from the five companies said the Live Oak Project will leverage Nebraska’s abundant biogenic CO2 resources, captured from bioethanol plants. -NAFB

Global investors betting on Nebraska

President Donald Trump was expected to announce a $12 billion aid package on Monday afternoon. Administration officials told the AP that it will be a boost for farmers struggling to sell their crops due to a months-long trade war with China and many other overseas markets. Trump was expected to unveil the plan at a White House roundtable with Treasury and Agriculture Secretaries Scott Bessent and Brooke Rollins, as well as lawmakers and farmers who grow commodities like corn, soybeans, cotton, and many others. 

Up to $11 billion is set aside for the USDA’s Farmer Bridge Assistance Program, which the administration says will offer a one-time payment to farmers of row crops of all kinds. The rest will be for U.S. farmers growing crops not covered under the bridge assistance program. It’s to help offer certainty to farmers as they market the current harvest and plan for next year. 

President Donald Trump was expected to announce a $12 billion aid package on Monday afternoon. Administration officials told the AP that it will be a boost for farmers struggling to sell their crops due to a months-long trade war with China and many other overseas markets. Trump was expected to unveil the plan at a White House roundtable with Treasury and Agriculture Secretaries Scott Bessent and Brooke Rollins, as well as lawmakers and farmers who grow commodities like corn, soybeans, cotton, and many others. Up to $11 billion is set aside for the USDA’s Farmer Bridge Assistance Program, which the administration says will offer a one-time payment to farmers of row crops of all kinds. The rest will be for U.S. farmers growing crops not covered under the bridge assistance program. It’s to help offer certainty to farmers as they market the current harvest and plan for next year. -NAFB

White House announcing $12 billion in farm assistance

<figure>
 <img src="https://media.eaglewebservices.com/public/2025/12/1765228441626.jpeg" alt="President Trump with farmers and ranchers in Oval Office Monday-photo by Margo Martin, Assistant to the President" />
 <figcaption>President Trump with farmers and ranchers in Oval Office Monday-photo by Margo Martin, Assistant to the President</figcaption>
 </figure><div><blockquote class="twitter-tweet">🚨 <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a>: &quot;I&#39;m delighted to announce this afternoon that the United States will be taking a small portion of the hundreds of billions of dollars we receive in tariffs... We&#39;re going to use that money to provide $12B in economic assistance to American farmers.&quot; <a href="https://t.co/upHPD6a9eP">pic.twitter.com/upHPD6a9eP</a>&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1998115240983019905?ref_src=twsrc%5Etfw">December 8, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div><div><blockquote class="twitter-tweet">.<a href="https://twitter.com/SecRollins?ref_src=twsrc%5Etfw">@SecRollins</a>: As <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> said, we are very pleased to announce that today, we are going to be effectuating a $11B bridge payment to our farmers... by the end of this month, every farmer that is able to apply for it will know exactly what that number looks like. <a href="https://t.co/3cKmFw6OQC">https://t.co/3cKmFw6OQC</a> <a href="https://t.co/hUk5XFmVMd">pic.twitter.com/hUk5XFmVMd</a>&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1998118157178069161?ref_src=twsrc%5Etfw">December 8, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div><div><blockquote class="twitter-tweet">.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &quot;These direct payments will give producers the breathing room they need to market this year’s harvest and plan for next season... thanks to the administration&#39;s pro growth policies, input costs like fuel and fertilizer are easing... Interest rates are coming… <a href="https://t.co/3cKmFw6OQC">https://t.co/3cKmFw6OQC</a> <a href="https://t.co/afbyMM1E89">pic.twitter.com/afbyMM1E89</a>&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1998120274764632411?ref_src=twsrc%5Etfw">December 8, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div><div><blockquote class="twitter-tweet">.<a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> on lowering the cost of farm equipment: &quot;We’re going to take off a lot of the environmental restrictions that they have on machinery... we’re going to take a lot of that nonsense off of the equipment, which is going to reduce [prices].&quot; <a href="https://t.co/bPuKHsgeGA">pic.twitter.com/bPuKHsgeGA</a>&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1998119170899136723?ref_src=twsrc%5Etfw">December 8, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div><div><blockquote class="twitter-tweet">.<a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> announces 12 billion in economic assistance to farmers: &quot;We&#39;re going to use that money to provide 12 billion dollars in economic assistance to American farmers&quot; <a href="https://t.co/SR3Yti19GA">pic.twitter.com/SR3Yti19GA</a>&mdash; CSPAN (@cspan) <a href="https://twitter.com/cspan/status/1998125773304066198?ref_src=twsrc%5Etfw">December 8, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div><div><blockquote class="twitter-tweet">.<a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> announces 12 billion in economic assistance to farmers: &quot;We&#39;re going to use that money to provide 12 billion dollars in economic assistance to American farmers&quot; <a href="https://t.co/SR3Yti19GA">pic.twitter.com/SR3Yti19GA</a>&mdash; CSPAN (@cspan) <a href="https://twitter.com/cspan/status/1998125773304066198?ref_src=twsrc%5Etfw">December 8, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div><div><blockquote class="twitter-tweet">“Farmers are an indispensable national asset, part of the backbone of America…I’ve always felt it so strongly. They are so important.” <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> ❤️ <a href="https://t.co/hDv28uOrdM">pic.twitter.com/hDv28uOrdM</a>&mdash; Margo Martin (@MargoMartin47) <a href="https://twitter.com/MargoMartin47/status/1998122795981541672?ref_src=twsrc%5Etfw">December 8, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div><div><blockquote class="twitter-tweet">Meryl Kennedy, Rice, Corn, and Soybean Farmer from Monroe, LA: &quot;The rice industry thanks you sincerely for what you have done for the California rice market into Japan. It has been monumental for our industry.&quot; <a href="https://t.co/4tqdnu25Io">pic.twitter.com/4tqdnu25Io</a>&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1998124143968145796?ref_src=twsrc%5Etfw">December 8, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div><div><blockquote class="twitter-tweet">Cordt Holub, Corn and Soybean Farmer from Dysart, Iowa: &quot;I think you brought Christmas to farmers with this bridge payment... What you&#39;re doing here in D.C. is working... I&#39;ll be able to potentially pass on a farm to my children because of you.&quot; ❤️ <a href="https://t.co/3cKmFw6h14">https://t.co/3cKmFw6h14</a> <a href="https://t.co/aW1qXFws2Q">pic.twitter.com/aW1qXFws2Q</a>&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1998122935828058237?ref_src=twsrc%5Etfw">December 8, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>

🎥President Trump details the $12B aid package for farmers

March corn closed down 2 1/2 cents and May corn was down 2 1/4 cents. January soybeans closed down 14 1/4 cents and March soybeans were down 12 3/4 cents. March KC wheat closed down 2 3/4 cents, March Chicago wheat was down 4 1/2 cents, March Minneapolis wheat was down 0 cents.

March corn closed down 3 cents and March corn was down 3 1/2 cents. January soybeans closed down 32 1/2 cents and March soybeans were down 30 cents. March KC wheat closed up 3 3/4 cents, March Chicago wheat was down 2 3/4 cents and March Minneapolis wheat was down 5 cents.

The soybean market fell by double digits on Friday, and in four of the five sessions this week as traders are expressing growing impatience regarding where cumulative sales stand to China, despite USDA announcing a flash sale Friday morning, the first announcement for soybeans in a week. Corn and wheat futures displayed more resilience on Friday as compared to soybeans but slipped slightly amid spillover weakness as well as uncertainty regarding how USDA will forecast crop demand in next Tuesday's WASDE report, which will leave the supply side of the balance sheet unchanged and among record levels for corn and wheat. In outside markets, a relatively cool inflation reading in the delayed September Personal Consumption Expenditure Index keeps the Federal Reserve on track for a rate cut in their meeting next week. Energy markets were higher to close the week, having gained traction through the second half of the week after the meeting between U.S. and Russian officials in Moscow has featured little follow-through news in regard to advancing peace talks in the Black Sea region.

The live cattle contracts traded higher into Friday's close, as traders remain pleased with the higher uptick thus far in the fed cash cattle market. On Thursday, some Northern dressed cattle traded at $340 to $345, which is $11.00 to $16.00 higher than last week's weighted average. The South remains at an utter standstill, but trade should begin to develop before the day is done. Asking prices for cattle in the South are set at $225 plus and in the North at $346 plus. Boxed beef prices are lower: choice down $0.04 ($362.68) and select down $0.84 ($349.48) with a movement of 100 loads (81.03 loads of choice, 8.93 loads of select, zero loads of trim and 10.25 loads of ground beef).

The feeder cattle complex also traded higher into Friday's closing bell, pushing mostly $1.00 advancements into the late afternoon. Currently, the spot January contract is trading above the market's 40-day moving average, which hasn't been done since Oct. 24, but the market isn't confident enough that there's enough support to conquer the 100-day moving average.

The lean hog contracts managed a fruitful day as the market continues to push onward and higher, currently pressuring the market's resistance at $82.00 in the spot February contract. It is helping that midday pork cutout values were up over $3.00 higher, which is a significant jump and helps traders feel as though demand will remain a key factor moving forward.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/05135801/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed down 2 1/2 cents and May corn was down 2 1/4 cents. January soybeans closed down 14 1/4 cents and March soybeans were down 12 3/4 cents. March KC wheat closed down 2 3/4 cents, March Chicago wheat was down 4 1/2 cents, March Minneapolis wheat was down 0 cents.For the Week:March corn closed down 3 cents and March corn was down 3 1/2 cents. January soybeans closed down 32 1/2 cents and March soybeans were down 30 cents. March KC wheat closed up 3 3/4 cents, March Chicago wheat was down 2 3/4 cents and March Minneapolis wheat was down 5 cents.The soybean market fell by double digits on Friday, and in four of the five sessions this week as traders are expressing growing impatience regarding where cumulative sales stand to China, despite USDA announcing a flash sale Friday morning, the first announcement for soybeans in a week. Corn and wheat futures displayed more resilience on Friday as compared to soybeans but slipped slightly amid spillover weakness as well as uncertainty regarding how USDA will forecast crop demand in next Tuesday's WASDE report, which will leave the supply side of the balance sheet unchanged and among record levels for corn and wheat. In outside markets, a relatively cool inflation reading in the delayed September Personal Consumption Expenditure Index keeps the Federal Reserve on track for a rate cut in their meeting next week. Energy markets were higher to close the week, having gained traction through the second half of the week after the meeting between U.S. and Russian officials in Moscow has featured little follow-through news in regard to advancing peace talks in the Black Sea region.LIVESTOCK:The live cattle contracts traded higher into Friday's close, as traders remain pleased with the higher uptick thus far in the fed cash cattle market. On Thursday, some Northern dressed cattle traded at $340 to $345, which is $11.00 to $16.00 higher than last week's weighted average. The South remains at an utter standstill, but trade should begin to develop before the day is done. Asking prices for cattle in the South are set at $225 plus and in the North at $346 plus. Boxed beef prices are lower: choice down $0.04 ($362.68) and select down $0.84 ($349.48) with a movement of 100 loads (81.03 loads of choice, 8.93 loads of select, zero loads of trim and 10.25 loads of ground beef).The feeder cattle complex also traded higher into Friday's closing bell, pushing mostly $1.00 advancements into the late afternoon. Currently, the spot January contract is trading above the market's 40-day moving average, which hasn't been done since Oct. 24, but the market isn't confident enough that there's enough support to conquer the 100-day moving average.The lean hog contracts managed a fruitful day as the market continues to push onward and higher, currently pressuring the market's resistance at $82.00 in the spot February contract. It is helping that midday pork cutout values were up over $3.00 higher, which is a significant jump and helps traders feel as though demand will remain a key factor moving forward.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/05135801/web-closing-markets.mp3">Click HERE for audio</a>

USDA plans to roll out a short-term “bridge payment” for farmers next week, officials said Tuesday, in a bid to help growers survive tight margins and trade-related losses. Agriculture Secretary Brooke Rollins told White House colleagues a key purpose of the payment is to cushion crop producers after a year of depressed prices and significant drops in U.S. soybean sales to China. 

While the broader 2025 farm support package has received roughly $40 billion in commitments, the second highest since the 1930s, farming groups say some producers need immediate liquidity to cover seed, fertilizer and other input costs ahead of 2026 planting. Details, including how much each farmer may receive and which crops are eligible, remain unclear. Lawmakers expressed optimism that at least partial payments could be distributed before year’s end. 

USDA plans to roll out a short-term “bridge payment” for farmers next week, officials said Tuesday, in a bid to help growers survive tight margins and trade-related losses. Agriculture Secretary Brooke Rollins told White House colleagues a key purpose of the payment is to cushion crop producers after a year of depressed prices and significant drops in U.S. soybean sales to China. While the broader 2025 farm support package has received roughly $40 billion in commitments, the second highest since the 1930s, farming groups say some producers need immediate liquidity to cover seed, fertilizer and other input costs ahead of 2026 planting. Details, including how much each farmer may receive and which crops are eligible, remain unclear. Lawmakers expressed optimism that at least partial payments could be distributed before year’s end. -NAFB

U.S. officials to announce short-term “Bridge Payment” aid for farmers

Beef production in major exporting and consuming regions is projected to decline in 2025, with global output likely to remain under pressure heading into 2026, analysts at Rabobank reported this week. The report indicates the largest volume reductions are expected in the United States, which has faced shrinking herds and lower slaughter rates. That trend helps explain why other producers — particularly Australia — are expanding feedlot capacity to capitalize on weakened U.S. output. At the same time, production in several other major beef-producing countries — including New Zealand — is forecast to drop the most in percentage terms, driven by tighter margins, disease pressures and shifting global demand. 

Globally, exports of beef and beef products are expected to grow only modestly, as shrinking supplies and rising input costs limit expansion potential, the Rabobank analysis found. This downtrend could have ripple effects on beef prices worldwide — potentially boosting retail costs in importing countries and reshaping consumer supply chains just as demand recovers after pandemic-era disruptions. 

Beef production in major exporting and consuming regions is projected to decline in 2025, with global output likely to remain under pressure heading into 2026, analysts at Rabobank reported this week. The report indicates the largest volume reductions are expected in the United States, which has faced shrinking herds and lower slaughter rates. That trend helps explain why other producers — particularly Australia — are expanding feedlot capacity to capitalize on weakened U.S. output. At the same time, production in several other major beef-producing countries — including New Zealand — is forecast to drop the most in percentage terms, driven by tighter margins, disease pressures and shifting global demand. Globally, exports of beef and beef products are expected to grow only modestly, as shrinking supplies and rising input costs limit expansion potential, the Rabobank analysis found. This downtrend could have ripple effects on beef prices worldwide — potentially boosting retail costs in importing countries and reshaping consumer supply chains just as demand recovers after pandemic-era disruptions. -NAFB

Global Forecast: beef production to fall further in 2025

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

U.S. ag futures regained at least part of the midweek losses seen in Wednesday's session. Corn, soybeans, and wheat markets all approached near-term support which encouraged buying as traders are likely satisfied to keep prices within their recent ranges for now, ahead of the USDA update early next week. Outside markets were quiet for Thursday, with mostly higher energy markets, while Treasury yields were mixed to higher which offered support to the U.S. Dollar Index which has fallen in eight of the past ten sessions.

The live cattle complex traded higher into Thursday's closing bell, although midday boxed beef prices were lower, traders are hopeful that the fed cash cattle market will trade cattle stronger later this week. A few bids are currently on the table at $218 live in Kansas, and $216 live and $335 to $340 dressed in Nebraska but no cattle have traded yet. Asking prices are firm at $225 in the South and $340 plus in the North. The market still has plenty of room to trade higher before it runs into resistance pressure, which will likely happen around the market's 100-day moving average ($231.33). Boxed beef prices are lower: choice down $0.78 ($363.03) and select down $3.22 ($349.90) with a movement of 86 loads (67.88 loads of choice, 14.18 loads of select, zero loads of trim and 4.39 loads of ground beef).

Upon seeing the live cattle contracts continue to trade higher, the feeder cattle complex pushed a moderate rally into Thursday's close. This week's rally hasn't only developed throughout the futures complex, but its support has also affected feeder cattle prices, which are trading higher in the countryside once again.

The lean hog complex also traded higher as the market continues to see adequate technical support, even though pork cutout values did not trade higher today. At this point, it's likely that the bulk of this week's trade in the cash hog market is essentially done with, although a few more clean-up sales still could develop.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/04144253/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed up 3 3/4 cents and May corn was up 3 3/4 cents. January soybeans closed up 3 3/4 cents and March soybeans were up 3 1/4 cents. March KC wheat closed up 4 1/2 cents, March Chicago wheat was up 2 cents, March Minneapolis wheat was down 3 1/4 cents.U.S. ag futures regained at least part of the midweek losses seen in Wednesday's session. Corn, soybeans, and wheat markets all approached near-term support which encouraged buying as traders are likely satisfied to keep prices within their recent ranges for now, ahead of the USDA update early next week. Outside markets were quiet for Thursday, with mostly higher energy markets, while Treasury yields were mixed to higher which offered support to the U.S. Dollar Index which has fallen in eight of the past ten sessions.LIVESTOCK:The live cattle complex traded higher into Thursday's closing bell, although midday boxed beef prices were lower, traders are hopeful that the fed cash cattle market will trade cattle stronger later this week. A few bids are currently on the table at $218 live in Kansas, and $216 live and $335 to $340 dressed in Nebraska but no cattle have traded yet. Asking prices are firm at $225 in the South and $340 plus in the North. The market still has plenty of room to trade higher before it runs into resistance pressure, which will likely happen around the market's 100-day moving average ($231.33). Boxed beef prices are lower: choice down $0.78 ($363.03) and select down $3.22 ($349.90) with a movement of 86 loads (67.88 loads of choice, 14.18 loads of select, zero loads of trim and 4.39 loads of ground beef).Upon seeing the live cattle contracts continue to trade higher, the feeder cattle complex pushed a moderate rally into Thursday's close. This week's rally hasn't only developed throughout the futures complex, but its support has also affected feeder cattle prices, which are trading higher in the countryside once again. The lean hog complex also traded higher as the market continues to see adequate technical support, even though pork cutout values did not trade higher today. At this point, it's likely that the bulk of this week's trade in the cash hog market is essentially done with, although a few more clean-up sales still could develop.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/04144253/web-closing-markets.mp3">Click HERE for audio</a>

Burks Tractor, an Idaho-based dealership, filed a lawsuit against Monarch Tractor of California. The suit accuses the California-based startup of a breach of contract and warranty violations after its tractors failed to operate autonomously. The dealership said the ten tractors it bought via interest-bearing financing for almost $800,000 are defective and didn’t live up to the driver-optional, or autonomous, claims of the company. Burks bought the tractors in early 2024 with the intent of being among the California company’s first retail dealers. 

Burks said Monarch misrepresented the tractors as fully autonomous and not limited by location or time. An article in Farm Equipment Magazine said Monarch attempted to make the units work autonomously but failed, eventually admitting to the limitations but refusing to take back the defective inventory. A November 19 letter from Monarch Tractor’s HR Department to 102 employees warned of pending layoffs while changing the business to software licensing.

Burks Tractor, an Idaho-based dealership, filed a lawsuit against Monarch Tractor of California. The suit accuses the California-based startup of a breach of contract and warranty violations after its tractors failed to operate autonomously. The dealership said the ten tractors it bought via interest-bearing financing for almost $800,000 are defective and didn’t live up to the driver-optional, or autonomous, claims of the company. Burks bought the tractors in early 2024 with the intent of being among the California company’s first retail dealers. Burks said Monarch misrepresented the tractors as fully autonomous and not limited by location or time. An article in Farm Equipment Magazine said Monarch attempted to make the units work autonomously but failed, eventually admitting to the limitations but refusing to take back the defective inventory. A November 19 letter from Monarch Tractor’s HR Department to 102 employees warned of pending layoffs while changing the business to software licensing.-NAFB

Farm equipment dealer sues tractor manufacturer

After a tariff war stalled trade for months, reports showed shipments of U.S. crops headed to China are picking up in number. At least six large cargo vessels are scheduled to fill up with soybeans at Gulf Coast terminals through mid-December. A shipping schedule that was seen by Reuters this week said a seventh U.S. soybean cargo was loaded during the previous weekend and is already headed to China, the first shipment since May. 

While the White House announced that China agreed to buy 12 million metric tons of U.S. soybeans by the end of this month, Beijing has yet to confirm any details about potential promises to purchase large volumes of U.S. soybeans. USDA data said Chinese importers booked nearly two million metric tons of U.S. soybeans last month for delivery in the 2025-2026 marketing year that ends in August 2026. U.S. sorghum shipments have also restarted to China.

After a tariff war stalled trade for months, reports showed shipments of U.S. crops headed to China are picking up in number. At least six large cargo vessels are scheduled to fill up with soybeans at Gulf Coast terminals through mid-December. A shipping schedule that was seen by Reuters this week said a seventh U.S. soybean cargo was loaded during the previous weekend and is already headed to China, the first shipment since May. While the White House announced that China agreed to buy 12 million metric tons of U.S. soybeans by the end of this month, Beijing has yet to confirm any details about potential promises to purchase large volumes of U.S. soybeans. USDA data said Chinese importers booked nearly two million metric tons of U.S. soybeans last month for delivery in the 2025-2026 marketing year that ends in August 2026. U.S. sorghum shipments have also restarted to China.-NAFB

More soybean shipments heading to China

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

Corn, soybean, and wheat markets fell under technical pressure as the state of post-harvest rallies has entered a period of limbo with traders likely searching for clarity on lingering fundamental questions such as the supply side of the corn balance sheet, as well as the uncertain nature of the demand for U.S. soybeans in China. Prices may remain rangebound but below immediate resistance ahead of the December USDA update due out early next week which may offer insight into some of these areas of concern. Outside markets for Wednesday saw equities trade higher, with the Dow Jones Industrial Average higher now in eight of the past ten sessions and once again closing in on record levels. The U.S. Dollar Index was softer for the seventh time in the past eight business days and remains at the bottom of the monthly range for the Index.

The live cattle complex traded modestly higher into Wednesday's close, thankful to again see stronger boxed beef prices. The market initially opened lower at Wednesday's start, but upon seeing improved fundamentals, traders felt as though there was enough support in the market to justify trading the contracts higher. Still no cash cattle trade has developed, but asking prices are noted in the South at $225, and are still not established in the North. It is assumed that cash prices will be higher this week with the uptick in boxed beef prices and with the board's support. The other factor that could be helping drive the cattle contracts higher is the announcement from Texas Agriculture Commissioner Sid Miller that another detection of New World screwworm (NWS) was found in Montemorelos, Nuevo Leon, Mexico, which is approximately 120 miles south of the Texas border. This development could mean that the border will stay closed longer than assumed.

With the live cattle market's support, the feeder cattle complex traded over $3.00 higher into Wednesday's noon hour. It was rather impressive to note some of the sales made Tuesday afternoon at sale barns across the country as some were trading $20.00 to $30.00 higher, with instances as much as $50.00 higher than the week before. That obviously showed up in the CME feeder cattle index as well, which jumped $12.66 to $332.36. Today's support of the futures contracts should only encourage more buying in sale barns this afternoon.

After enduring a couple days of weaker trade, the lean hog complex was back to trading higher as the market is no longer up against immediate resistance pressure. Helping encourage traders to send the contracts higher is also the fact that pork cutout values are a tick stronger.

<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/03141153/web-closing-markets.mp3">Click HERE for audio</a>

By: NATHAN STUEDLEGRAINS:March corn closed down 6 1/2 cents and May corn was down 6 3/4 cents. January soybeans closed down 9 cents and March soybeans were down 9 1/2 cents. March KC wheat closed down 3 1/2 cents, March Chicago wheat was down 2 3/4 cents, March Minneapolis wheat was down 4 1/2 cents.Corn, soybean, and wheat markets fell under technical pressure as the state of post-harvest rallies has entered a period of limbo with traders likely searching for clarity on lingering fundamental questions such as the supply side of the corn balance sheet, as well as the uncertain nature of the demand for U.S. soybeans in China. Prices may remain rangebound but below immediate resistance ahead of the December USDA update due out early next week which may offer insight into some of these areas of concern. Outside markets for Wednesday saw equities trade higher, with the Dow Jones Industrial Average higher now in eight of the past ten sessions and once again closing in on record levels. The U.S. Dollar Index was softer for the seventh time in the past eight business days and remains at the bottom of the monthly range for the Index.LIVESTOCK:The live cattle complex traded modestly higher into Wednesday's close, thankful to again see stronger boxed beef prices. The market initially opened lower at Wednesday's start, but upon seeing improved fundamentals, traders felt as though there was enough support in the market to justify trading the contracts higher. Still no cash cattle trade has developed, but asking prices are noted in the South at $225, and are still not established in the North. It is assumed that cash prices will be higher this week with the uptick in boxed beef prices and with the board's support. The other factor that could be helping drive the cattle contracts higher is the announcement from Texas Agriculture Commissioner Sid Miller that another detection of New World screwworm (NWS) was found in Montemorelos, Nuevo Leon, Mexico, which is approximately 120 miles south of the Texas border. This development could mean that the border will stay closed longer than assumed.With the live cattle market's support, the feeder cattle complex traded over $3.00 higher into Wednesday's noon hour. It was rather impressive to note some of the sales made Tuesday afternoon at sale barns across the country as some were trading $20.00 to $30.00 higher, with instances as much as $50.00 higher than the week before. That obviously showed up in the CME feeder cattle index as well, which jumped $12.66 to $332.36. Today's support of the futures contracts should only encourage more buying in sale barns this afternoon.After enduring a couple days of weaker trade, the lean hog complex was back to trading higher as the market is no longer up against immediate resistance pressure. Helping encourage traders to send the contracts higher is also the fact that pork cutout values are a tick stronger.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/12/03141153/web-closing-markets.mp3">Click HERE for audio</a>

Farmer sentiment strengthened in November as rising crop prices and improved export prospects pushed the Purdue University/CME Group’s Ag Economy Barometer to 139, the highest level since June. Much of the increase was driven by a sharp 15-point jump in future expectations, even as current conditions held steady. The Future Expectations Index rose 15 points to 144. Financial outlooks improved alongside a 10-15 percent rally in fall-delivery corn and soybean bids, helping offset weaker cattle prices in the livestock sector. 

However, producers remain cautious as capital investment slipped further, and fewer farmers say today is a good time to expand. Long-term farmland value expectations reached a record high, while most corn producers anticipate stable cash rental rates heading into 2026. The survey also showed shifting crop production strategies as growers respond to projected tight operating margins, including lower-cost seed traits, reduced phosphorus applications, and adjustments to seeding and nitrogen rates. 

Farmer sentiment strengthened in November as rising crop prices and improved export prospects pushed the Purdue University/CME Group’s Ag Economy Barometer to 139, the highest level since June. Much of the increase was driven by a sharp 15-point jump in future expectations, even as current conditions held steady. The Future Expectations Index rose 15 points to 144. Financial outlooks improved alongside a 10-15 percent rally in fall-delivery corn and soybean bids, helping offset weaker cattle prices in the livestock sector. However, producers remain cautious as capital investment slipped further, and fewer farmers say today is a good time to expand. Long-term farmland value expectations reached a record high, while most corn producers anticipate stable cash rental rates heading into 2026. The survey also showed shifting crop production strategies as growers respond to projected tight operating margins, including lower-cost seed traits, reduced phosphorus applications, and adjustments to seeding and nitrogen rates. -NAFB

Future outlook drives farmer sentiment higher

The U.S. Grains and BioProducts Council’s 2025-2026 Corn Harvest Quality Report contained some good news about this year’s large corn crop. The 15th annual survey showed that the 2025 U.S. corn crop is projected to be the largest on record at 425.53 million metric tons, or 16,752 bushels. The crop is also highlighted by the lowest rate of broken corn and foreign material (BCFM) in the report’s history, a remarkable accomplishment for the entire corn value chain. 

This year’s crop, on average, is entering the market with characteristics that met or exceeded each grade factor’s numerical requirements for U.S. No. 1 grade corn. The report showed 87 percent of the samples met all grade factor requirements for U.S. No. 1 grade, and 97.8 percent met the grade factor requirements for U.S. No. 2 grade corn. The report is based on 621 yellow corn samples taken from 12 top corn-producing states.  

The U.S. Grains and BioProducts Council’s 2025-2026 Corn Harvest Quality Report contained some good news about this year’s large corn crop. The 15th annual survey showed that the 2025 U.S. corn crop is projected to be the largest on record at 425.53 million metric tons, or 16,752 bushels. The crop is also highlighted by the lowest rate of broken corn and foreign material (BCFM) in the report’s history, a remarkable accomplishment for the entire corn value chain. This year’s crop, on average, is entering the market with characteristics that met or exceeded each grade factor’s numerical requirements for U.S. No. 1 grade corn. The report showed 87 percent of the samples met all grade factor requirements for U.S. No. 1 grade, and 97.8 percent met the grade factor requirements for U.S. No. 2 grade corn. The report is based on 621 yellow corn samples taken from 12 top corn-producing states. -NAFB

Large 2025 U.S. corn crop in excellent condition

A junior at Northwest Missouri State University has received a $500 scholarship named in memory of a Savannah native.

Kiara Schaub, of Savannah, Missouri, is currently studying agronomy with a focus on crop science.&nbsp;She is the daughter of Clint and Shelly Schaub.

The Matthew White Memorial Scholarship is an endowed scholarship awarded to a continuing student at Northwest in an agriculture-related major. 

Information from the university says a scholarship of at least $500 is awarded with preference to graduates of Savannah High School, North Andrew High School in Rosendale and students from Missouri or Iowa.&nbsp;

Matthew White was a student at the university who completed his sophomore year as an agriculture business major when he died in an automobile crash in 2005. White's parents, Steve and Julie, of Savannah, established the scholarship in 2006. Both parents are alumni of Northwest.

<figure>
 <img src="https://media.eaglewebservices.com/public/2025/12/1764781042921.jpeg" alt="KiaraSchaub - courtesy of NWMSU" />
 <figcaption>KiaraSchaub - courtesy of NWMSU</figcaption>
 </figure>By RYAN SKAITHA junior at Northwest Missouri State University has received a $500 scholarship named in memory of a Savannah native.Kiara Schaub, of Savannah, Missouri, is currently studying agronomy with a focus on crop science.&nbsp;She is the daughter of Clint and Shelly Schaub.The Matthew White Memorial Scholarship is an endowed scholarship awarded to a continuing student at Northwest in an agriculture-related major. Information from the university says a scholarship of at least $500 is awarded with preference to graduates of Savannah High School, North Andrew High School in Rosendale and students from Missouri or Iowa.&nbsp;Matthew White was a student at the university who completed his sophomore year as an agriculture business major when he died in an automobile crash in 2005. White's parents, Steve and Julie, of Savannah, established the scholarship in 2006. Both parents are alumni of Northwest.

Northwest Missouri State University student receives scholarship in memory of Savannah native

Corn futures were higher Friday. Soybean futures were also higher; wheat futures were mixed at best on the session. The U.S. stock market was firmer, with the S&amp;P higher. The U.S. Dollar Index was slightly lower. The interest rate products were flat. Energy trade was firmer with crude oil and natural gas both trading higher. Precious metals were firmer with gold up 37.00.

The live cattle complex was still sporting a fruitful rally into Friday's close, as traders seem to be again believing in the market's bullish long-term fundamentals despite plenty of volatility over the last month. There was some light cash cattle trade reported in the South at $220, which is roughly $5.00 higher than the business that developed earlier in the week, but still $2.00 to $4.00 lower than last week's weighted average. No new dressed cattle trade has developed at this point. Earlier in the week, Northern dressed cattle were trading at mostly $330, which is $13.00 lower than last week's weighted average. Boxed beef prices are lower: choice down $1.39 ($366.89) and select down $5.13 ($350.38) with a movement of 60 loads (46.58 loads of choice, 2.89 loads of select, 5.35 loads of trim and 4.79 loads of ground beef).

The feeder cattle contracts saw the biggest day of gains as some of the contracts were up their daily trading limit, up $9.25. Helping spur this positive momentum was the interview shared with Agriculture Secretary Brooke Rollins, where she discussed several important issues, such as the border. The main points she stated about the border's reopening (when it does happen) are that not all of the ports will reopen at once, and that it will be a slow and methodical process, and the market will not see a million imported cattle show up overnight, which was a major relief to hear.

The lean hog complex traded along both sides of steady as the market looks for continued reassurance following Wednesday's dramatic rally. There's been very little interest this week in the cash hog market, but pork cutout values are again up slightly.

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By: NATHAN STUEDLEGRAINS:Corn futures were higher Friday. Soybean futures were also higher; wheat futures were mixed at best on the session. The U.S. stock market was firmer, with the S&amp;P higher. The U.S. Dollar Index was slightly lower. The interest rate products were flat. Energy trade was firmer with crude oil and natural gas both trading higher. Precious metals were firmer with gold up 37.00.LIVESTOCK:The live cattle complex was still sporting a fruitful rally into Friday's close, as traders seem to be again believing in the market's bullish long-term fundamentals despite plenty of volatility over the last month. There was some light cash cattle trade reported in the South at $220, which is roughly $5.00 higher than the business that developed earlier in the week, but still $2.00 to $4.00 lower than last week's weighted average. No new dressed cattle trade has developed at this point. Earlier in the week, Northern dressed cattle were trading at mostly $330, which is $13.00 lower than last week's weighted average. Boxed beef prices are lower: choice down $1.39 ($366.89) and select down $5.13 ($350.38) with a movement of 60 loads (46.58 loads of choice, 2.89 loads of select, 5.35 loads of trim and 4.79 loads of ground beef).The feeder cattle contracts saw the biggest day of gains as some of the contracts were up their daily trading limit, up $9.25. Helping spur this positive momentum was the interview shared with Agriculture Secretary Brooke Rollins, where she discussed several important issues, such as the border. The main points she stated about the border's reopening (when it does happen) are that not all of the ports will reopen at once, and that it will be a slow and methodical process, and the market will not see a million imported cattle show up overnight, which was a major relief to hear.The lean hog complex traded along both sides of steady as the market looks for continued reassurance following Wednesday's dramatic rally. There's been very little interest this week in the cash hog market, but pork cutout values are again up slightly.<a href="https://dehayf5mhw1h7.cloudfront.net/wp-content/uploads/sites/356/2025/11/28124311/web-closing-markets-2.mp3">Click HERE for audio</a>

As the holidays are here, bird flu is once again infecting commercial and backyard poultry flocks. Civil Eats reports that the flu has infected and killed more than 8.9 million turkeys, chickens, and ducks in the U.S. since September. The report said consumers are unlikely to feel a price squeeze during the holidays. For example, a 50-state survey from the American Farm Bureau found retail prices for frozen turkeys were down by 16 percent compared to last year. That’s even though wholesale prices are up 40 percent, with retailers often selling turkeys as loss-leaders. 

The USDA’s Animal and Plant Health Inspection Service reports that 93 flocks have been tested and confirmed with HPAI infection. That includes 43 commercial flocks, 50 backyard flocks, and has affected 1.67 million birds across all the infected premises. Reuters reported that the risk of infection in the public remains low.

As the holidays are here, bird flu is once again infecting commercial and backyard poultry flocks. Civil Eats reports that the flu has infected and killed more than 8.9 million turkeys, chickens, and ducks in the U.S. since September. The report said consumers are unlikely to feel a price squeeze during the holidays. For example, a 50-state survey from the American Farm Bureau found retail prices for frozen turkeys were down by 16 percent compared to last year. That’s even though wholesale prices are up 40 percent, with retailers often selling turkeys as loss-leaders. The USDA’s Animal and Plant Health Inspection Service reports that 93 flocks have been tested and confirmed with HPAI infection. That includes 43 commercial flocks, 50 backyard flocks, and has affected 1.67 million birds across all the infected premises. Reuters reported that the risk of infection in the public remains low.-NAFB