Beef, Most Fertilizers Exempt from New Tariffs

A new ten percent U.S. tariff on goods from around the world took effect on Tuesday. Meatingplace said a list of tariff exemptions included beef, some fertilizers, and metals like steel and aluminum that are already under Section 232 national security tariffs. The ten percent tariff under Section 122 was announced last week after the Supreme Court struck down President Donald Trump’s widespread use of tariffs, in place since February 2025. “Section 122 only allows tariffs for 150 days without congressional action,” Meatingplace said. “The President had said over the weekend he was raising them to 15 percent, the cap set in Section 122, but Tuesday’s action remained at ten percent.” Fertilizers that are exempt from the new import tariffs include urea, ammonium nitrate, UAN, ammonium sulfate, along with DAP, MAP, and others. Ammonia, sulfuric acid, and sulfur are not exempt, unless they are imported via the U.S.-Mexico-Canada Trade Agreement.  

Farmers: “Meet Us Where We Are”

Osborn Barr Paramore launched a new report outlining the purchasing mindset of U.S. growers. The new report offers timely analysis on the factors influencing the decision-making of U.S. farmers and outlines where opportunities exist for brands to better serve growers. OBP surveyed 300 corn and soybean growers during the recent harvest season, with the focus on current trends in farm input planning and buying behavior. “Farmers are now saying the quiet part out loud: they need brands to meet them where they are in the face of a market environment that breeds risk and incessant operational evaluation,” said Rhonda Riles, OBP President. “These dynamics have farmers changing their thought processes, and the report dives into those dynamics and provides a couple of ways that brands can start to activate around these insights.” The report, titled “OBPulse: The Purchasing Mindset of Growers,” is available at obpagency.com

National Ethanol Conference Celebrates a Record 2025

Speaking at the National Ethanol Conference in Orlando, Florida, Renewable Fuels Association President and CEO Geoff Cooper celebrated a record year in 2025 for the industry. He also strongly urged Congress and the White House to fully unleash American ethanol to boost the farm economy, reduce consumer fuel prices, and strengthen domestic energy security. “We saw glimpses of our industry’s potential last year, and 2025 was another good year for the U.S. ethanol industry,” Cooper told attendees. “But we could have done so much more if simply given the opportunity.” He also said that opportunity begins with eliminating outdated regulations that restrict E15 sales during the summer driving season. Despite bipartisan support and a broad coalition agreement that included the American Petroleum Institute, legislative efforts to secure permanent, nationwide year-round E15 sales narrowly failed in 2024 and again in early 2026. “Unleash E15!” Cooper said. “Let’s get it done.” 

Lowering Barriers for New and Beginning Farmers

Applications are now open for FarmPath, a national, multi-year program designed to make farming more accessible and achievable for aspiring and beginning farmers across the U.S. The free, three-year program provides practical education in best practices for resilient agriculture and farm management, access to experienced mentors, and connections to a national network of professionals working across food and agriculture. FarmPath integrates training in production skills with in-depth instruction on the systems, markets, and decisions that shape long-term success. “Through structured business training, mentorship, professional networks, and up to $10,000 in implementation funding, FarmPath is Farm Foundation’s direct investment in a new generation of farmers prepared to meet this moment in American agriculture,” said Shari Rogge-Fidler, the president and CEO of Farm Foundation. FarmPath is open to individuals from a wide range of backgrounds. Additional information, eligibility details, and the application are available at FarmPath.org.

February Rural Mainstreet Index Falls Below Growth Neutral

The overall Rural Mainstreet Index dropped below a growth-neutral level of 50.0 for February. That’s according to the most recent monthly survey of bank CEOs in rural areas of a ten-state region dependent on agriculture or energy. The region’s overall reading for February fell to 47.9 from 52.0 in January. This marks the 12th time that the index has dropped below growth-neutral since January 2025. “Due to weakness in the farm economy, especially for grain, about 75 percent of bankers support additional Congressional financial support for the agriculture sector,” said Ernie Goss of Creighton University. “They said pullbacks in farm exports during 2025 continue to undermine the regional farm economy.” The February survey showed farm loan delinquency rates plateauing at a modest rate of less than 1.5 percent. The Farm and Ranchland Price Index also fell below growth neutral at 45.5. The overall index ranges from 0 to 100, with growth neutral at 50.0.

Fertilizer Institute Applauds Farm Bill 2.0

The Fertilizer Institute voiced strong support for key conservation, innovation, and nutrient stewardship provisions included in the House Agriculture Committee’s Farm Bill proposal. The organization is grateful that Chairman GT Thompson recognized the important role that nutrient stewardship and conservation technologies play in helping farmers produce abundant, affordable food while protecting natural resources. “These provisions in the draft Farm Bill reflect a practical, science-based approach to strengthening American agriculture,” said Corey Rosenbusch, president and CEO of the Institute. Of particular importance to TFI is the inclusion of a clear definition of plant biostimulants, as well as an exclusion to ensure that these innovative, nutrition-based products are not regulated as pesticides. “Incentivizing precision agriculture and enhanced efficiency technologies through conservation programs is a smart investment,” Rosenbusch added. “These tools help farmers get the most out of their applied fertilizer and deliver economic benefits on the farm while enhancing environmental protections.”

Thursday Watch List

Markets

Reports for Thursday include Weekly Export Sales at 7:30 a.m. CST, with data as of February 19. Otherwise, traders and investors will be tuned in for updates as nuclear negotiations resume in Geneva, Switzerland between the U.S. and Iran.

Weather

A system will push through the Southeast U.S. on Thursday with scattered rain showers, although only limited help to the ongoing drought will occur. The next system will be moving through the Canadian Prairies later Thursday, which will bring through some colder air for the North this weekend.