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Agri-Stress Helpline is available 24/7 at 833-897-2474. National Suicide Prevention Month is underway, highlighting the importance of mental health awareness, especially in agriculture. Texas Ag Commissioner Sid Miller encourages farmers, ranchers, and rural communities to take advantage of available resources and reach out for help.
Miller remarked, “People don’t really think about farmers or ranchers struggling with mental health, but that’s the most stressful profession you can be in. Producers face constant pressures. We’ve got unpredictable weather. We’ve got market swings. A lot of them are isolated. They don’t socialize. So all this can take a big toll on mental health. Actually, the two highest rates of suicide in the United States are veterans and our farmers.”
He says the Agri-Stress Helpline is available in several states and it’s specifically for those in the ag industry. The Agri-Stress Helpline is available 24/7 at 833-897-2474.
Production increase may not blunt seasonal diesel strength… Oil prices have held fairly steady recently, thanks to a generally level supply and demand balance. Patrick DeHaan with GasBuddy.com reports OPEC+ announced plans to increase oil production in October by roughly 180,000 barrels per day. But DeHaan believes global demand will be able to soak up the increased supply, adding weight to gasoline prices.
Not so for diesel. When it comes to diesel prices, DeHaan expects the opposite saying, “As we see farmers now starting to harvest their crops, we could see diesel demand go up, and that could contribute to higher diesel prices in the weeks ahead,” also noting increased demand for heating oil as temperatures drop.
Grassley laments Trump trade approach… China has purchased a record amount of soybeans this marketing year, but none from the US. Iowa Senator Chuck Grassley says it’s a problem the White House must address. “I think we’re finding a tougher position, and I think we have a president that’s reluctant to challenge China in the same way he did in 2019 on agricultural things. And until we get tougher and we have some leverage, I don’t see a good future,” said Grassley.
The senior senator from Iowa says President Trump’s on-again-off-again tariffs on hard-to-get items has painted the administration into a corner.
The Senator continued, “Putting 50% tariffs on things that have steel in them, when you can’t buy those things in the United States and you need them for your tractor to be finally manufactured. There should be tariffs on things that you can’t get in the United States. Why drive up the price of John Deeres because of a tariff on something they need for the tractor that they can’t even get in the United States? It’s a stupid policy.”
Grassley says agriculture needs urgent help and a re-imagined ag policy.
Notable closes…
Spreaders were active in the soy product markets again today with bean oil solidly higher against losses in bean meal market. Soybean futures today followed soybean meal to the downside.
- November beans were 6 cents lower at $10.25 1/4
- January beans down 5 and three-quarters to $10.44 ¾
Buyers regained control of live cattle futures with feeder cattle working off of session lows to close higher in the front-two contract months.
- October live cattle were 97 ½ higher at $231.15
- December live cattle up $1.50 to $232.67 ½
- October feeders were 47 ½ higher at $350.40