Farm Program Payouts Hit Record $13.8 Billion

The U.S. Department of Agriculture says farmers will get about $13.8 billion in Agriculture Risk Coverage and Price Loss Coverage – ARC and PLC – payments for the 2025 crop year. It marks the largest annual payout since the programs were created in the 2014 Farm Bill. Agriculture Secretary Brooke Rollins says the payments will provide producers with liquidity to cover operating expenses, prepare for the next crop year, and invest in their operations. The increased support comes in part from changes in the Working Families Tax Cuts Act, which raised reference prices, improved payment calculations, and increased payment limits. For the 2025 crop year, eligible producers will automatically get whichever payment, ARC or PLC, provides the higher benefit. Sixteen crops triggered PLC payments, including corn, soybeans, wheat, grain sorghum, rice, peanuts, canola, and seed cotton. USDA also reminds producers that enrollment for the 2026 ARC and PLC programs is now open through local Farm Service Agency offices.

Clint White to Lead Sorghum Checkoff

The United Sorghum Checkoff Program named Clint White as its next executive director, effective Oct. 1. White succeeds Norma Ritz Johnson, who will stay with the organization through Jan. 12, 2027, to assist with the leadership transition before retiring. White has served as the checkoff’s director of communications since 2021, leading consumer marketing efforts, producer outreach, and industry partnerships. He has also helped connect sorghum research initiatives with market development opportunities. Sorghum Checkoff Board Chair Kim Baldwin says White brings strong relationships, innovative ideas, and a deep understanding of the organization’s responsibility to farmers. White has more than 20 years of communications and marketing experience and has earned multiple industry awards. Before joining the checkoff, he held leadership roles with Chuck E. Cheese’s, The Thomas Agency, and Fossil. As executive director, he’ll work with the producer-led board and CEO Tim Lust to guide investments in crop improvement, market development, and education programs for U.S. sorghum growers.

Ag Equipment Makers Face Federal Inquiry, Seed Markets Next

The U.S. Department of Agriculture and Federal Trade Commission have launched a joint public inquiry into potential anticompetitive practices in agricultural equipment markets, according to The Wall Street Journal. The agencies said the effort is in response to complaints from farmers about barriers to purchasing equipment and getting repair services. Progressive Farmer reported regulators are seeking information on whether manufacturers or dealers are restricting competition and how those practices may affect farmers, independent repair shops and rural communities. The announcement weighed on equipment manufacturers' stocks. According to Investing.com, shares of Deere & Company fell 5%, while CNH Industrial and AGCO Corp. declined 5.7% and 5.9%, respectively. In addition, Iowa Capital Dispatch reported that USDA is expanding cooperation with the Department of Justice to investigate competition in seed markets. The agencies will examine seed pricing, licensing, and other practices as USDA officials raise concerns about rising seed costs for producers.

ASI Gains Congressional Support in Lamb Import Case

More than 60 members of Congress are urging the U.S. International Trade Commission to support American sheep producers as it investigates the impact of imported lamb meat on the domestic industry. Sen. Steve Daines of Montana and Rep. Celeste Maloy of Utah led a bipartisan letter signed by 68 lawmakers, asking the commission to review evidence presented in an ongoing global safeguard investigation. If warranted, they recommended relief for U.S. producers. The effort follows a safeguard petition requested by the American Sheep Industry Association and a subsequent investigation launched by the U.S. International Trade Commission in July. An injury hearing is scheduled for Oct. 16. ASI Executive Director Mike Michener thanked lawmakers for supporting American sheep producers, saying their efforts help protect domestic supply chains and rural communities. According to ASI, imported lamb now accounts for more than 70 percent of the lamb available to U.S. consumers, contributing to lost sales and market share for domestic producers.

DMI Names Corey Scott President and CEO

Dairy Management Inc. has named Corey Scott as its third president and CEO in the organization’s history. Scott succeeds Barbara O’Brien, who plans to retire following the Joint Annual Meeting of the National Dairy Promotion and Research Board, National Milk Producers Federation and United Dairy Industry Association later this month. Scott is slated to begin his new role on Oct. 12. He says he’s honored to serve America’s dairy farmers and help advance the dairy checkoff’s mission of growing dairy demand and creating opportunities for producers. The DMI Board of Directors selected Scott to lead the organization as it continues efforts to connect with consumers, strengthen dairy promotion programs, and support the future of the industry. O’Brien, who has led DMI in recent years, will retire after the annual meeting scheduled for Oct. 19-21, completing a leadership transition at one of agriculture’s largest commodity checkoff organizations.

Markets Await October USDA Supply and Demand Estimates

USDA’s October Crop Production Report and World Agricultural Supply and Demand Estimates, or WASDE, are scheduled for release at noon Eastern Time on Oct. 9. World Agricultural Outlook Board Chair Mark Jekanowski says the October reports will incorporate key data released over the past two months, providing a clearer picture of 2026 crop production and supply-and-demand conditions. Jekanowski says harvest progress and additional production information should help USDA move closer to final production estimates for major crops. Data from the Small Grain Summary and the Quarterly Grain Stocks report will play an important role, particularly for corn and soybeans. “Those stock estimates, they're the fourth quarter of the marketing year, so those final stocks estimates become the beginning stocks, the carrying stocks for the new crop,” Jekanowski explains. USDA will also factor in findings from the September Quarterly Hogs and Pigs Report and the monthly Cattle on Feed report.  

Friday Watch List

Markets

Friday's session will center around the release of the October World Agricultural Supply and Demand Estimates (WASDE) and Crop Production reports from USDA at 11 a.m. CDT. After the close, CFTC will release their weekly Commitments of Traders report at 2:30 p.m. CDT, closing the week with a look at trader positions as of Tuesday, October 6.

Weather

A batch of thunderstorms is located over Iowa early Friday morning. Those storms should be weak as they drift eastward into northern Illinois Friday, but may produce a couple of areas of heavier rain. Eyes are all on Hurricane Isaias though, which may get up to Category 3 strength before landfall Friday night between Mobile Bay and Pensacola, FL. Flooding rain, wind damage, and coastal flooding is expected near landfall, though heavy rain and breezy winds will penetrate inland across the Southeast and Tennessee Valley this weekend.