AgDay Podcast

The ARC and PLC farm program payment rates for 2025 have finally been released. Farmers have been waiting since Congress passed the One Big Beautiful Bill for this critical $16 billion lifeline. But while relief is on the way, it may be less than expected for some.

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On Tuesday, EPA Administrator Lee Zeldin announced the release of the proposed rule, Reallocation of Additional 2025 Small Refinery Exemptions. As we reported in August, the EPA granted 29 backlogged blending waivers from 2025 but said it would preserve the Renewable Fuel Standard to avoid harming farmers. 

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This week's Crop Progress Report puts the corn harvest at 33%, six percentage points behind the five-year average but a 10-point improvement from last week. Farmers in northwest Iowa saw near-record corn and soybean yields last year, and producer Matt McCarthy says early yields this fall are tracking at similar levels.

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Farmers are questioning how Nebraska's corn yield estimate jumped 11 bushels per acre from September to October, helping push the national average to a record 181.2 bushels per acre and sending corn prices sharply lower

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USDA provided a huge gut punch to the corn market on Friday with its yield forecast in the October crop production and WASDE Report.

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Yield is clearly the focus of Friday's WASDE report, especially given the impact of September's record rainfall in states such as Iowa. Average trade estimates remain somewhat conservative, and if USDA confirms those expectations, the report could disappoint the market, particularly for corn. Another key question is how USDA will account for the additional 173 million bushels of old-crop corn identified in the Quarterly Grain Stocks report.

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September's excessive rainfall has delayed soybean harvest across the western Corn Belt. Iowa is running 33% behind normal, while Nebraska is lagging by 25%. The wet conditions may be trimming yields and contributing to quality issues, creating additional harvest complications and marketing challenges for growers.

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The president’s executive order on emergency tax relief for diesel fuel eases restrictions on the use of red-dyed diesel, which is exempt from the federal excise tax, in on-road vehicles without penalty. The move is expected to lower prices by an average of 24.4 cents per gallon. But how much will it really help farmers?

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There has already been some relief in diesel prices following the release of emergency diesel stocks over the next four months. While prices have at least stopped rising, it remains uncertain how much further they may fall. Additionally, many farmers secured their diesel supplies before harvest and have already paid record-high prices.

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It's not just Iowa, many areas of the western Corn Belt have been hit by record rains the last month as a result of El Nino driven weather patterns. Not only has the excessive rain delayed harvest, but farmers are also seeing standability issues and increased disease pressure which has cut yield, plus quality issues are arising in both corn and soybeans.

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