The Renewable Fuels Association has field legal challenges to the Environmental Protection Agency's granting of small refinery exemptions. President Trump announced he is working on a "massive deal" to purchase potash from Belarus. Grain futures were higher today anticipating positive news from meetings this week between the U.S. and China.

Soybean and soy product futures fell at the Chicago Board of Trade. Technical factors and fundamentals plagued the end of the week trade. Arlan Suderman with StoneX believes commodity futures are well positioned in front of meetings with China.  Harvest delays are expected next week.

National Farmers Union President Rob Larew says the economic challenge for farmers is well beyond commodity prices. Dr. Alex Buck with the Plant Based Products Council told House Ag Committee members that the U.S. is missing an opportunity to capture market opportunities. The Meat Institute is celebrating tonight at the ballpark.

Along party lines, the Senate Agriculture Committee advanced a farm bill proposal by a 12-11 vote. Leaders said the proposal was long overdue and represents a long list of bipartisan amendments. The Fed raised its benchmark interest rate for the first time since 2023.

The Senate Ag Committee will reconsider its farm bill proposal tomorrow.Cryptocurrency legislation fails in the U.S. Senate. Winter wheat planting is running behind average and ethanol exports are up compared to last year.

Legislators are back in Washington with a full agenda and a clock ticking down to the November elections. Farmers and ag interests are in town lobbying for a new farm bill and energy policy. Crops are maturing and the harvest pace is picking up across the nation.

Soybean traders were caught leaning toward the bullish side of the market as the USDA increased it's estimated production forecast for the season ahead. As expected, the September crop report lowered both the average corn yield and total production. The USDA lowered expectations for Brazilian corn exports and left its Argentine corn forecast unchanged at 63 mmt.

Crude oil prices continued to climb while stock prices turned lower. Traders see inflation fears pushing the Fed to raise interest rates at its meeting next week. Commodity prices rallied in front of tomorrow's USDA WASDE report. High sulfur prices may be putting agriculture and food security at risk.

Diesel fuel prices are setting records this week just as farmers are ramping up machines to facilitate this year's harvest. The increased expense threatens to offset any relief from the recent bounce in commodity prices. A survey of market analysts suggests traders are expecting the USDA's WASDE estimates Friday will show lower corn and soybean production.

The nation's agriculture mourns the loss of Iowa soybean farmer, Ray Gaesser. He worked to develop farm policy and support renewable fuel with fellow ag leaders, but was also an advocate for soil health and climate smart ag practices. In a 2023 interview, he gave testimony to conservation tillage on his own farm.