Farmer Sentiment Improves as Corn and Soybean Prices Rise

Farmer optimism improved in July after three straight months of declines, according to the latest Purdue University-CME Group Ag Economy Barometer. The Index climbed from 113 in June to 126 in July, with both current conditions and future expectations showing gains. Researchers say stronger corn and soybean prices during the survey period helped boost producer confidence. Despite the improvement, farmers continue to face challenges. Nearly half of respondents identified high input costs as their biggest concern, while 30 percent said crop or livestock prices pose the greatest threat to their operations over the next five to 10 years. Only 13 percent of producers said their farms are financially better off than a year ago. However, more farmers expect conditions to improve over the next 12 months than expect them to worsen. The Farm Capital Investment Index also reached its highest level since March.

USDA Announces New Support Measures for Farmers During Minnesota Farmfest

Agriculture Secretary Brooke Rollins announced several new USDA initiatives while at Minnesota Farmfest aimed at helping farmers manage ongoing economic and production challenges. The actions include plans to modernize USDA data systems, provide additional flexibility for crop insurance premium payments, and expand prevented planting coverage. “We're modernizing how USDA serves farmers, providing commonsense flexibility when it's needed most, and strengthening the risk management tools producers depend on,” Rollins said. USDA will hold producer listening sessions at farm shows and state fairs across the country as it develops a new Data Modernization Plan. The Risk Management Agency is also allowing approved insurance providers to offer up to 60 additional days for producers to pay crop insurance premiums due between July and September. In addition, farmers will again have the option to purchase an extra five percent of prevented planting coverage beginning with the 2027 crop year.

Cattle Groups Urge Senate to Restore State Wolf Management

The National Cattlemen's Beef Association, Public Lands Council, and Wisconsin Cattlemen's Association are urging the Senate to pass legislation returning gray wolf management to individual states. The bill would reinstate a 2020 rule removing gray wolves in the lower 48 states from the Endangered Species Act and follows House approval of similar legislation last year. Senator Ron Johnson of Wisconsin recently sought unanimous Senate approval, but the effort was blocked. “Gray wolves are no longer hovering on the brink of extinction and represent a successful recovery,” said NCBA Vice President Skye Krebs. Supporters argue wolf populations have recovered and say state wildlife agencies are best equipped to balance conservation with protecting livestock and rural communities. The groups say restoring state management would give ranchers additional tools to address livestock losses while maintaining healthy wolf populations.

U.S. Trade Deficit Narrows Slightly Amid Tariff Changes

The U.S. trade deficit declined in June but remains only slightly below levels seen before President Donald Trump returned to office. According to the Bureau of Economic Analysis, the trade gap narrowed more than five percent from May to $73.3 billion. So far this year, the deficit is down about 7.5 percent compared with the first half of 2024. Reuters said the decline comes after more than a year of tariff changes aimed at reducing the nation’s trade imbalance. Trump previously imposed broad tariffs on imports, though many faced legal challenges before new tariffs were announced using a different authority. Trade gaps remain significant with several key trading partners. June data showed record deficits with Mexico, Vietnam, and South Korea. For farmers and agricultural exporters, trade policy remains closely watched as tariffs and international relationships continue influencing market access, commodity demand, and global competition.

Produce Group Urges Broader Approach to Cyclospora Investigations

The International Fresh Produce Association is asking federal health officials to expand how they investigate Cyclospora (sigh-kloh-SPOHR-uh) outbreaks. In comments submitted to the Centers for Disease Control and Prevention, IFPA recommended that investigators consider more than food-related exposures, including drinking water, recreational activities, wastewater, and other environmental factors. “Protecting public health and finding the source of outbreaks as quickly as possible are goals we all share,” said Max Teplitski, IFPA chief science officer. The group’s recommendations come as public health agencies continue investigating elevated Cyclospora cases in several states. IFPA says a broader approach could help identify outbreak sources faster and improve prevention efforts. The association also encouraged reviewing past unresolved investigations and considering wastewater surveillance as an additional tool. IFPA says science-based investigations are critical to protecting consumers and maintaining confidence in the food supply.

National FFA Membership Reaches Record High

The National FFA Organization continues to grow, reporting a record 1,053,847 student members during the 2025-2026 school year. FFA membership increased 1.1 percent from the previous year, with students participating in 9,591 chapters across all 50 states, Puerto Rico, and the U.S. Virgin Islands. “Seeing FFA continue to grow is a powerful reminder that students everywhere are looking for opportunities to lead, build meaningful skills, and prepare for their futures,” said Scott Stump, chief executive officer of the National FFA Organization. FFA says the organization serves students in rural, suburban, and urban communities through agricultural education focused on leadership, personal growth, and career preparation. Texas, California, and Georgia reported the largest membership totals. Top states with the biggest percentage jump in membership included New York, Puerto Rico, and Maine. Founded in 1928, FFA has expanded beyond its original name, Future Farmers of America, to prepare students for careers across agriculture and related industries. 

Thursday Watch List

Markets

On Thursday, USDA will release the weekly Export Sales report at 7:30 a.m. CDT. There are no other major reports scheduled. Weather and the ongoing conflicts in the Black Sea and Middle East are likely to continue to influence price action.

Weather

Moderate to heavy rain showers will continue to move through Missouri and Illinois Thursday morning, eventually shifting east into Indiana and southwest Michigan by the afternoon. Thursday night into early Friday morning, heavy rain showers and a few strong to severe thunderstorms could develop across eastern Kansas and southwest Missouri. Pockets of 1-2 inches of rain could fall across southwest Missouri and southeast Kansas by late Friday morning.