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President Trump is still considering a massive aid program for U.S. farmers… Trump officials are reportedly evaluating how money made from tariffs could supplement farmer payments. Official details about the bailout are scarce, though Treasury Secretary Scott Bessent told CNBC that information regarding “substantial support” for farmers would be released Tuesday. Trump told reporters in the Oval Office on Thursday his administration will provide “some of that tariff money” to farmers, “who are, for a little while, going to be hurt until the tariffs kick into their benefit.”
Senator Grassley speaks up for Nationwide E15… Any farmer will tell you that they want to sell into the market and not harvest government checks. Although those checks may be necessary again this year, we need to address the root cause of this issue by giving farmers more markets. So, one very important decision that Congress could make is to have permanent year-round, nationwide E15. And, that would do just that, giving farmers more markets – particularly for corn.
Now, people would say, “Well, you better wake up,” because we’ve had nationwide, year-round markets for six years through presidential waiver. But we need to have this by legislation because we need more certainty than what an individual president might think about this issue. And you need that certainty because it’s going to take a lot of investment of infrastructure at retailers selling gasoline to invest in the equipment that it takes to have E15 nationwide. -source: Senator Charles Grassley
FDA moves NWS serum forward… The FDA recently, conditionally approved Dectomax-CA1 (doramectin injection) injectable solution for the prevention and treatment of New World screwworm (NWS) larval infestations and prevention of NWS reinfestation for 21 days. “We understand the urgency with which America’s farmers and ranchers are asking for tools to fight New World screwworm,” said FDA Commissioner Marty Makary. “Today’s conditional approval – the first in the U.S. for NWS – shows our dedication to rapidly advancing important animal medicines when they are needed most. We continue to work tirelessly to complete review of other NWS products to protect multiple animal species in the U.S.”
“Under this conditional approval, the FDA has determined the drug is safe and has a reasonable expectation of effectiveness. We are making this treatment available to cattle producers immediately while the sponsor collects the data needed for a full approval,” said Timothy Schell, Ph.D., acting director of the FDA’s Center for Veterinary Medicine.
The value of all energy trade between the United States and Mexico was estimated to be $57 billion in 2024, down from nearly $72 billion in 2023, according to data from the U.S. Census Bureau. A combination of lower petroleum output from Mexico and lower fuel prices, particularly for petroleum products that make up the bulk of the cross-border energy trade between the two countries, drove most of the decrease. Energy trade value represents the total value of energy imports and exports between two countries and is driven by commodity volumes and prices.
Most of the energy trade value between the United States and Mexico comes from U.S. exports of refined petroleum products to Mexico—$37 billion in 2024—which accounted for 64% of the total energy value traded between the two countries. The inflation-adjusted value of all U.S. energy exports to Mexico declined by 13% in 2024 from a year earlier to $41 billion, falling by less than the previous annual decline of 24% from 2022 to 2023. -source: U.S. Energy Information Administration
California’s adoption of E15 is a bright spot… California Governor Newsom’s signing his legislature’s E15 bill made the state the last remaining and biggest to allow sales of the higher ethanol blend. Renewable Fuels Association’s Troy Bredenkamp never doubted Newsom would sign the unanimously passed bill saying, “He [Newsome] got on board last year…RFA commissioned a study with UC Berkeley and others, that looked at, what would E15 mean to the California consumer. That study showed a $2.7 billion per year savings to California consumers—almost $200 per household.”
Those numbers reportedly helped fuel Newsom’s signature on the bill. Bredenkamp says California will add almost 600 million gallons of new demand for American ethanol or 200 million bushels of corn. He says he hopes California’s move will give added momentum to year-round E15 legislation in Congress.
The Texas Department of Agriculture enacted an emergency quarantine Oct. 2 to stop the spread of the invasive two-spotted cotton leafhopper, also known as the cotton jassid. Originally from Asia, the cotton jassid has spread across much of the southeastern United States and now poses a serious threat to Texas’ multi-billion-dollar cotton industry and other agricultural products, said TDA.
“Texas cotton farmers are the backbone of our economy and our communities,” Texas Agriculture Commissioner Sid Miller said. “Texas grows 40% of the cotton grown in the U.S., making this pest a major threat to our supply. I won’t let a threat like the cotton jassid harm our farmers, ranchers, nurseries or landscapes. We’re taking aggressive steps to stop this pest in its tracks.” The quarantine applies to shipments from Alabama, Florida, Georgia, Louisiana, Mississippi, South Carolina, North Carolina and Tennessee where the pest has been detected.
Notable closes…
Boxed beef prices were modestly higher in morning trade... that helped live cattle futures trade higher.
- December live cattle were $2.17 ½ higher at $236.67 ½
- February live cattle up $2.80 to $239.62 ½
- November feeders were $5.37 ½ higher at $360.80
Export inspections of corn in the week ended October 2 totaled 1.6 million metric tons – that was at the high end of trade expectations. Corn exports are off to a great start for the 2025-26 marketing year, but strong export demand is considered “old news” in corn trade.
- December corn futures were 2 ¾ cents higher at $4.21 3/4
- March corn up 2 ½ cents to $4.38 1/4
- May corn futures closed at $4.47 1/4, up 2 cents