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WASHINGTON – Following President Trump’s comments about importing beef from Argentina to lower prices for American consumers, National Farmers Union (NFU) President Rob Larew reaffirmed the need to strengthen fairness and competition within the U.S. beef industry rather than rely on imported products.
“Lowering beef prices for consumers starts with restoring fairness in the marketplace, not by importing beef from Argentina and undercutting American ranchers,” said Larew. “Years of drought, depressed cattle prices, and unchecked corporate consolidation have already pushed many family farmers and ranchers to the brink, all while consumers pay more at the grocery store.
“The White House recently bailed out Argentina with $40 billion in U.S. taxpayer-backed aid, and Argentina’s response was to strike new deals selling soybeans to China—deals that hurt American crop farmers. The last thing we need is to reward them by importing more of their beef. In times of extreme uncertainty in the farm economy, we should be doubling down on our efforts to support family farmers and ranchers here at home.” -source: National Farmers Union Press Release
Screwworm fight continues amid shutdown… The government shutdown does not affect essential or emergency work, such as the efforts to combat the New World Screwworm. Erin Spaur, executive vice president of the Colorado Cattlemen’s Association, says concerns remain, especially when it comes to the progress of building the sterile fly facility along the border with Mexico. Spaur also says ensuring Mexico maintains its NWS monitoring efforts remains critical as the pest moves closer to the U.S. border.
“A lot of what Mexico is doing right now is passive surveillance, and what they need to be doing is active surveillance. But just like the cattle industry, and we all know the cattle industry, this can have wide effect. And hopefully, cross our fingers as the winter months come, and colder weather comes, we’ll see that slowdown of it spreading further north. But I think the beef industry is, for sure, taking this serious,” said Spaur.
API Waives off Support of E15… The American Petroleum Institute (API) said today it opposes legislation to expand year-round sales of E15 gasoline, a reversal that underscores deepening tensions between the oil and ethanol industries after a brief period of cooperation. The influential oil trade group earlier this year had teamed up with farm-state lawmakers and ethanol producers to support higher renewable fuel blending mandates and a December legislative push for year-round E15, in exchange for restrictions on a program that allows smaller refiners to skirt renewable fuel obligations.
The API said it does not oppose year-round E15 sales of the blend containing 15% ethanol on their own, but stressed the bill must now be paired with other measures that address new changes in the fuel market. Sommers also said the API wanted more certainty around small refinery exemptions to renewable fuel obligations, saying the waivers disrupt the market and penalize refiners who have already invested in biofuel compliance, according to the letter. -source: Jarrett Renshaw, Reuters
GM shares higher on EV reduction… Wall Street Journal – October 21, 2025
General Motors shares jumped Monday morning after the automaker reported strong sales and issued new guidance that included smaller losses in the future from electric vehicles. Last week the company said it would book a $1.6 billion charge to recognize underused EV- and battery-factory equipment and to compensate suppliers for reduced parts purchases and vehicle cancellations after a U.S. federal subsidy for EVs expired. “By acting swiftly and decisively to address overcapacity, we expect to reduce EV losses in 2026 and beyond,” Chief Executive Mary Barra said in her quarterly letter to shareholders Tuesday. -source: Christopher Otts, Wall Street Journal
Notable closes…
President Trump sat down to lunch at the White House with Republican Senators today and told them there is no guarantee he will meet with Chinese President Xi Jinping at the end of this month. He added hat he still hopes to meet with Xi in South Korea but “you never know in this business.”
- November beans were a penny lower at $10.30 ¾
- January beans down 1 ½ cent to $10.48 1/2
- March beans closed at $10.62 3/4, down a-penny-and-a-quarter
Today’s pressure on corn was at least partially tied to reports the American Petroleum Institute said it opposes legislation to expand year-round sales of E-15.
- December corn futures were 3 1/2 cents lower at $4.19 ¾
- March corn down 3 ¼ cents to $4.33 ¾
- May corn futures closed at $4.41 3/4, down 3 1/2 cents