Farmer Sentiment Improves Despite Rising Input Cost Concerns

Farmer sentiment improved in March as the Purdue University/CME Group Ag Economy Barometer Index rose from 116 points in February to 127. The Current Conditions Index increased by six points, while the Future Expectations Index increased by 14 points. However, the Future Expectations Index this month was still 12 points below last year’s December index and 16 points below 2025’s March index. The percentage of respondents who cited high input costs as their biggest concern increased from 44 to 46 percent during the month. However, the percentage of respondents who think the U.S. is headed in the right direction and who expect land prices to be higher five years from now also increased. The percentage of producers who indicated the U.S. is headed in the “right direction” increased from 59 percent in February to 65 percent in March. A higher percentage also expect land values to increase in the next five years, pointing to more long-term optimism.

Deere Reaches a Settlement in Right to Repair Litigation

Deere & Company announced it has reached a settlement in a multidistrict “right to repair” lawsuit filed in 2022, bringing the case to a close without any admission of wrongdoing. The agreement, pending approval from the U.S. District Court for the Northern District of Illinois, resolves claims related to customer access to equipment repair resources. Under the terms, Deere will contribute to a class settlement fund to compensate eligible members and cover legal and administrative costs. Deere also reaffirmed its commitment to providing customers and independent service providers with repair tools, manuals, and diagnostic software. “We’re pleased that this resolution allows us to move forward and remain focused on what matters most, which is serving our customers,” said Denver Caldwell, vice president of aftermarket and customer support. Deere said it will continue investing in technology and services that improve equipment uptime for farmers and ranchers.

NCGA President: Bring an End to Import Tariffs to Benefit Farmers

Jed Bower, president of the National Corn Growers Association, said farmers are raising concerns over rising fertilizer costs during what could be one of the most expensive planting seasons on record. He said in an op-ed that actions by major fertilizer producers like The Mosaic Company and J.R. Simplot are key factors contributing to ongoing price pressures. In 2020, Mosaic, supported by Simplot, petitioned for tariffs on phosphate fertilizer imports from Morocco and Russia. Federal regulators approved the request, leading to reduced imports and a sharp increase in domestic prices. Phosphate fertilizers are essential for crop production, particularly for corn, and a limited supply has strained already tight farm budgets. Growers report billions in added costs since the tariffs took effect. “If action isn’t taken soon, the situation will only become more painful,” Bower said. The U.S. International Trade Commission is currently reviewing the tariffs, with farmers urging officials to lift restrictions and ease costs.

Weekly Export Inspections of Corn and Beans Improve

The USDA said inspections of corn and soybeans rose week to week while wheat assessments declined during the week ending on April 2. Corn inspections through the week totaled two million metric tons, up from 1.88 million a week earlier. The agency said that’s also above the 1.61 million metric tons inspected during the same week last year. Examinations of soybeans for offshore delivery rose to just over 779,300 metric tons from 694,000 tons during the previous week. The total was down from the 817,000 assessed at the same point in 2025. Wheat inspections declined week over week to 334,000 metric tons from 386,200 tons a week earlier. That was down from the 816,900 tons inspected a year ago at the same time. Yearly corn and wheat inspections continue ahead of last year’s pace, while soybean inspections continue to lag behind 2025. 

Clean Fuels Alliance Submits Comments on 45Z Credit Rule

Clean Fuels Alliance America has submitted formal comments to the U.S. Treasury Department regarding proposed rules for the 45Z Clean Fuel Production Credit, calling for additional clarity as the agency works to finalize the policy. The organization praised Treasury for incorporating earlier industry feedback into the updated proposal. However, it emphasized the need for timely and definitive guidance to support producers navigating the new credit. “The proposed regulations accurately respond to taxpayer comments on prior guidance and provide additional certainty for the industry,” the group stated, while noting that further clarification is still needed. Kurt Kovarik, vice president of federal affairs, said producers are particularly seeking confirmation that the updated rules will apply to fuel sales made in 2025, when the credit took effect. Officials say clearer rules could boost domestic energy production and expand market opportunities for U.S. farmers.

Sorghum Growers Invited to Enter the 2026 NSP Yield Contest

The National Sorghum Producers opened entries for the 2026 National Sorghum Yield Contest, inviting growers nationwide to compete across multiple categories and production methods. Participants will be eligible for state and national awards in East and West regions, with divisions including Irrigated, Dryland No-Till, and Dryland Tillage, as well as an overall Food Grade winner. Organizers say flexible verification options, with either market-based grain ticketing or traditional on-farm weigh-backs, are intended to increase accessibility and participation. The entry deadline is November 24, 2026, with harvest forms due by December 2. “This contest is about more than just yield; it’s about recognizing innovation, sharing knowledge, and pushing the boundaries of what’s possible in sorghum production,” said NSP CEO Tim Lust. Winners will be honored at the 2027 Commodity Classic, highlighting top-performing growers and advancements across the sorghum industry.

Wednesday Watch List

Markets

The EIA will release their weekly Petroleum Status report Wednesday morning at 9:30 a.m. CDT, including last week's average ethanol production. It will otherwise be an uneventful day for reports, with markets likely to remain tuned into weather forecasts and geopolitical updates.

Weather

A system is moving along the Canadian border on Wednesday, bringing some moderate snow to the Canadian Prairies and scattered showers across the North-Central U.S. Some breezy winds are circling around the system as well. Though some isolated showers may develop over Texas, the rest of the country is likely to be dry with increasing temperatures.

Highs: 20s/40s Canadian Prairies; 30s/50s Northern Plains; 50s/60s Pacific Northwest; 50s/70s Midwest; 60s/70s Central Plains, Southeast; 70s/80s Southern Plains, Delta.