John Deere to Close Two Iowa Manufacturing Plants

John Deere plans to close two Iowa manufacturing facilities and shift production elsewhere over the next several years. According to Progressive Farmer, the company will move windrower and round baler production from Ottumwa to Des Moines and transfer Hagie STS sprayer production from Clarion, Iowa, to Thibodaux, Louisiana. The Iowa Capital Dispatch reported that about 300 employees could be affected under normal production levels, although Deere said workforce impacts will depend on future business conditions and current production remains below typical levels due to the downturn in agriculture. Ottumwa officials estimate the closure could ultimately eliminate about 400 jobs and more than $30 million in payroll. AgWeb reported Deere expects to close the 115-year-old Ottumwa plant by fiscal year 2029, with the Clarion facility following a similar timeline. The company says it remains committed to its planned $20 billion investment in U.S. manufacturing over the next decade despite softer equipment sales and lower profits.

NFU: Farm Country Spoke Up, Now Congress Must Deliver

National Farmers Union President Rob Larew says family farmers made their priorities clear throughout the election season, highlighting concerns about rising fuel, fertilizer, seed, and feed costs, tight profit margins, market concentration, and uncertainty surrounding tariffs and trade policy. In a statement following Tuesday’s elections, Larew said those concerns became central topics on the campaign trail and helped shape policy discussions nationwide. He emphasized that with the election over, attention must now turn to governing and delivering results for rural America. Larew said farmers have waited too long for a modernized farm bill that reflects current economic realities. Looking ahead, Larew said Farmers Union members will remain engaged with lawmakers as Congress works through the remainder of this session and into the next.

Federal Agencies Team Up to Safeguard U.S. Agricultural Markets

The Commodity Futures Trading Commission and the U.S. Department of Agriculture have signed a Memorandum of Understanding designed to strengthen oversight and integrity in U.S. agricultural markets. The agreement will improve coordination between the agencies by harmonizing policies, expanding information sharing, and increasing access to risk management tools. It also aims to help identify and monitor structural and systemic risks that could affect agricultural markets. CFTC Chairman Michael Selig says farmers have long relied on agricultural markets to hedge risk and manage uncertainty. He says the agreement will enhance protections for producers while improving the efficiency of data sharing between the agencies. USDA Secretary Brooke Rollins says faster and more transparent data sharing is critical as producers navigate changing market conditions. She says the agreement builds on USDA’s data modernization efforts and will help both agencies identify risks more quickly and improve responses to market events affecting agriculture.

Rainfall Brings Limited Relief to National Topsoil Moisture Conditions

Recent rainfall in parts of the country helped improve topsoil moisture conditions slightly, according to USDA. Chief Meteorologist Brad Rippey said national topsoil moisture ratings remained largely unchanged as of Nov. 1, with 38% of the country reporting topsoil moisture rated very short to short, the same as the previous week. However, the share of land reporting surplus moisture increased one percentage point to 6%. Rippey said significant rainfall in the Desert Southwest contributed to the improvement, creating unusually high surplus moisture levels for this time of year in some areas. While conditions have improved in parts of the West, drought remains a concern elsewhere. Rippey identified the Mid-South as a major trouble spot, particularly Arkansas, which has experienced persistent dry conditions since late summer. According to USDA, 95% of Arkansas agricultural land is currently rated very short to short on topsoil moisture, underscoring the severity of drought conditions in the state.

America First Seafood Strategy Targets Industry Growth

The White House’s America First Seafood Strategy is designed to strengthen the U.S. seafood industry and support rural communities that depend on fisheries and aquaculture. USDA Office of Seafood Director Michael Illenberg says the seafood sector has historically received less support through federal farm and food programs, contributing to industry challenges and decline. The strategy aims to reverse that trend by expanding assistance and creating new economic opportunities for producers and processors. A key component of the plan is access to up to $5 billion in financing through USDA’s Strengthening Processing for U.S. Ranchers – aka SPUR – Guaranteed Loan Program. The funding is available to meat, poultry, and seafood processing facilities and is administered through USDA Rural Development. The strategy also emphasizes expanding seafood exports, promoting U.S.-caught seafood domestically and internationally, and increasing seafood purchases through USDA nutrition programs. Federal agencies plan to support those efforts through labeling initiatives and targeted marketing campaigns to boost demand for American seafood.

NCBA National Anthem Contest Finalists Announced

The National Cattlemen’s Beef Association has announced the three finalists in its 14th annual National Anthem Contest. Public voting is open through Nov. 25 to determine the winner, who will perform the “Star-Spangled Banner” during the Opening General Session and before both Cowboy’s Night at the Opry shows at CattleCon 2027 in Nashville, Tennessee. The finalists are Sarah Boyle of Cascade, Iowa; Jacee Fuller of Twin Falls, Idaho; and Morgan Higman of North Sioux City, South Dakota. Boyle is building her own cattle herd and is active in FFA and her local cattlemen’s association. Fuller is a fifth-generation cattle producer, Idaho FFA state officer, and agricultural education student. Higman says living in an agricultural community has given her a deep appreciation for producers and rural life. The winner will be announced by Dec. 1. Vote today at convention.ncba.org.

Friday Watch List

Markets

On Friday, the Bureau of Labor Statistics will release the monthly Employment report for October at 7:30 a.m. CST. There are no agricultural reports due out during the session, but after the close, CFTC will release the weekly Commitments of Traders report at 2:30 p.m. CST, updating positions as of Tuesday, Nov. 3.

Weather

A low-pressure system continues to spin around the Great Lakes with isolated showers, but the system's cold front will be bringing showers to the East Coast for one more day. Some cooler air is drifting in behind the system, which will give some Southern Corn Belt areas their first frosts and freezes this weekend.