Oklahoma Poultry Litter Lawsuit Comes to a Settlement

Oklahoma has reached a nearly $44 million settlement with six poultry companies, ending a 21-year lawsuit over poultry litter pollution in the Illinois River Watershed. The agreement resolves claims against Tyson Foods, Cargill, George's, Peterson Farms, Cal-Maine, and Simmons Foods. The companies will fund watershed conservation, pay environmental penalties, finance independent compliance monitoring, and reduce the amount of poultry litter applied within the watershed over the next seven years. They also agreed to help fund vegetative buffer strips and submit to annual compliance audits. Oklahoma Attorney General Gentner Drummond says, "This agreement allows us to turn the page on a dispute that has gone on for far too long. It protects Oklahoma's water, provides certainty for our poultry industry, and shows that difficult problems can be solved through persistence and good-faith negotiation." The settlement still requires court approval and would replace a December 2025 court judgment once it’s finalized.

Prospects Rising for Higher Fertilizer and Fuel Costs

Renewed fighting between the United States and Iran is raising new concerns about higher fuel and fertilizer costs for farmers as tensions escalate around the Strait of Hormuz (hor-MOOZ). Oil and gasoline prices climbed after President Donald Trump said the U.S. would continue military action against Iran following reported attacks on commercial ships. The Strait of Hormuz is a key shipping route for global energy supplies and fertilizer, with about one-third of the world's crop nutrients moving through the waterway. Louisiana Senator John Kennedy said restoring shipping traffic is critical to limiting energy price increases. "If we can get the traffic in the strait back up to 40 or 50 percent, it'll hold energy prices down,” he said. “I don't know about fertilizer, but energy prices, yeah." Agri-Pulse also said the renewed conflict comes as many U.S. farmers begin making fertilizer purchasing decisions for next year's crop, raising concerns that additional supply disruptions could drive input costs even higher.

Beginning Farmer Institute Application Deadline Approaching

The National Farmers Union is accepting applications for its 2026 Beginning Farmer Institute, a free ten-week online program designed to help beginning farmers and ranchers strengthen their operations. The competitive program is open to producers ages 18 and older, and it includes weekly business management training, live question-and-answer sessions with industry experts, one-on-one technical assistance, and networking opportunities with fellow producers. Participants who complete the program may also be invited to an in-person session featuring additional training, farm tours, and meetings with Farmers Union leadership. NFU says the institute is designed to improve the long-term health and resilience of farm and ranch businesses. Applications must include a resume, reference letter, and essay outlining the applicant's current operation, five-year goals, and how the program will help achieve those objectives. The online program runs from October through December, and applicants will be notified of their acceptance by September 1.

Corn and Soybean Inspections Drop Last Week

Corn and soybean export inspections declined last week, while wheat inspections improved, according to the latest report from the U.S. Department of Agriculture. USDA says 1.54 million metric tons of corn were inspected for export during the week ending July 9, down from the previous week but still above the same week last year. Soybean inspections fell to 418,592 metric tons, although they remained well ahead of year-ago levels. Wheat inspections climbed to 373,611 metric tons from the previous week but trailed the volume inspected during the same week in 2025. For the marketing year, corn export inspections now total 72.2 million metric tons, up sharply from 57.8 million a year ago. Soybean inspections stand at 38.3 million metric tons, down from last year, while wheat inspections since June 1 total 1.89 million metric tons, compared to 2.29 million tons during the same period in 2025.

China’s June Soybean Imports Climb Higher

China imported a record amount of soybeans in June, driven by strong shipments from Brazil and the clearing of delayed cargoes at its ports. Reuters said customs data show China, the world's largest soybean importer, brought in 13.55 million metric tons during June, up more than ten percent from a year earlier and nearly 15 percent above May's total. Imports for the first six months of the year reached 50.15 million metric tons, slightly ahead of last year's pace. A Chinese agricultural researcher says soybean arrivals are expected to remain above ten million metric tons per month through August, with full-year imports potentially matching or exceeding last year's record. She says key factors to watch include U.S.-China trade relations, Brazilian exports, and livestock demand in China. Meanwhile, U.S. soybean exports to China have resumed, with China importing 8.38 million metric tons from the United States during the first five months of 2026. 

Higher Food Prices Affecting Consumer Purchasing

Higher food prices continue to change the way Americans shop, according to a new report from CoBank's Knowledge Exchange. The report says food prices are up 2.7 percent from a year ago and about 26 percent higher than five years ago, prompting more consumers to switch to lower-cost store brands, shop at discount retailers, or simply buy fewer groceries. CoBank economist Billy Roberts says, "Food price increases are proving to be the definitive, everyday stressor for consumers, and they're responding decisively by choosing lower-cost options like private label brands, shopping at discount retailers, or simply buying less." The report says retailers are responding with price rollbacks and value promotions, while food manufacturers are focusing on affordability to help offset higher production costs. CoBank also notes inflation, elevated energy prices, and higher interest rates continue to pressure the overall economy, with many economists now expecting borrowing costs to remain higher for longer than previously anticipated.

Wednesday Watch List

Markets

On Wednesday, the Energy Information Administration will be out at 9:30 a.m. CDT with the weekly Petroleum Status report, including last week's ethanol production and stocks. At 11 a.m. CDT, the June NOPA crush report will be out, an early indication of national soybean crush volume in June. Otherwise, traders will remain focused on the hot and dry weather across the U.S. Grain Belt this week, as well as geopolitical issues -- notably the ongoing wars in the Persian Gulf and Black Sea.

Weather

The heatwave across the northern tier continues on Wednesday, though there are some milder temperatures right along the Canadian border. Southern showers also continue Wednesday with some pockets of heavy rain being possible again, especially in Texas where flooding may occur.