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There is uncertainty about the Farm Bill’s progress due to potential changes in the political landscape. One thing is certain: farmers need a new Farm Bill.

Dave Chatterton, Strategic Farm Marketing, says grain are higher early Wednesday. The market has been pushed by fund short covering, lower yield ideas and better demand. However, upside may be limited especially as farmers sell on the rally. Livestock are mixed.

Randy Martinson, Martinson Ag, says he was encouraged grains were all able to close higher and build on last week’s higher weekly closes. So was it all fund short covering?

This acquisition, announced in December 2023, gives KAES full ownership of the state-of-the-art facility, which has the capacity to produce 3.5 MMT of nitrogen fertilizers and diesel exhaust fluid annually.

There’s a big crop in the field for many Midwest growers, and it requires fuel. N supplies ears with the energy they need to add kernels all the way to their tips and to pack on weight.

Randy Martinson with Martinson Ag says grains saw fund short covering and profit taking building on higher weekly closes. There was also some money flowing into the grains with the stock market melt down. However, buying also stemmed from weather and ideas of lower yield and crop conditions in corn and soybeans.

USDA’s Economic Research Service (ERS) will provide an updated 2024 net farm income forecast on Thursday. Economists say the net farm income picture would look even worse it weren’t for improved livestock prices.

Jim Rothermich of Iowa Appraisal joins the Top Producer podcast to share what he’s tracking in farmland auctions.

Estimates show Argentina’s corn acres could be down 20% due to damaging pests and low prices as crop insurance becomes a focus in the U.S.