Fertilizer Price Probe Opens as Farm Margins Tighten

The Federal Trade Commission has opened an industrywide investigation into fertilizer prices after sharp increases during spring planting. Reuters reported that FTC Chairman Andrew Ferguson said the agency is using civil investigative demands to gather documents and testimony. The probe comes as growers face higher fertilizer and fuel costs, drought in parts of the Plains and another year of narrow margins. Reuters said urea prices have climbed 55% since shipping through the Strait of Hormuz was blocked, while another nitrogen fertilizer rose 33%, citing Kentucky Farm Bureau testimony. The USDA, cited by Reuters, said fertilizer has been the largest increase in farm input costs since 2020. The American Farm Bureau Federation reported in an April survey that many farmers could not afford all the fertilizer needed this season. Texas Corn Producers called the probe a step toward fairer markets for growers as planting decisions continue nationwide this spring.

USDA Announces Cotton Plan to Bolster Demand

The Agriculture Department announced a new Great American Cotton Plan on Thursday, saying it aims to strengthen cotton farm income, expand trade and increase demand for U.S.-grown cotton. USDA said the plan includes support for domestic textile manufacturing and a broader “Plant Not Plastic” initiative promoting cotton-based products. Agriculture Secretary Brooke Rollins said the effort is intended to restore profitability for cotton producers and rural communities. The department said it also supports the Buying American Cotton Act, which is designed to encourage the use of domestically produced cotton in federal purchases. Farm Progress reported that cotton producers have faced tight margins and policy uncertainty as input costs remain elevated across agriculture. USDA said the plan will focus on marketing, manufacturing and export opportunities. The announcement comes as commodity groups continue pressing for stronger safety-net programs and new demand outlets for crops and fiber markets this year too.

EPA Chief Says Durable WOTUS Rule More Important Than Speed

Environmental Protection Agency Administrator Lee Zeldin said the agency is working to finalize a new Waters of the United States, or WOTUS, rule but is prioritizing legal durability over speed as it seeks a definition that can withstand future court challenges and political shifts. Zeldin said the EPA wants to complete the rule as soon as possible but has not set a public timeline. The regulation determines which wetlands, streams and other water bodies fall under federal protection through the Clean Water Act. Zeldin said the agency's goal is to develop a definition that remains stable across administrations and survives future elections. The issue has been the subject of years of litigation, including the U.S. Supreme Court's 2023 decision in the Sackett v. Environmental Protection Agency case, which narrowed federal authority over certain wetlands. Zeldin also said EPA's ongoing review of glyphosate will be guided by scientific evidence. The agency expects to complete that review later this year.

Environmental Groups Threaten EPA Lawsuit Over Atrazine Standards

Three environmental organizations have notified the Environmental Protection Agency of their intent to sue, alleging the agency has failed to establish required water quality standards for atrazine, one of the most widely used herbicides in U.S. agriculture. The notice, filed Thursday by the Center for Biological Diversity, Center for Environmental Health and Pesticide Action and Agroecology Network, argues EPA is violating the Clean Water Act by not issuing aquatic life criteria for atrazine. The groups contend the law gives EPA discretion regarding the form and timing of revisions to water quality criteria but requires the agency to establish them. They argue federal standards are needed to protect aquatic ecosystems from pesticide contamination. Atrazine is commonly used on corn and sorghum acres and has long been the subject of debate among farm groups, regulators and environmental advocates. EPA has previously conducted ecological risk assessments for the herbicide, while agricultural organizations maintain it remains an important crop protection tool for growers

Base Acre Update Opens for ARC, PLC Programs

Landowners will have from June 1 through Aug. 31 to review potential base acre increases for Agriculture Risk Coverage and Price Loss Coverage programs, the USDA Farm Service Agency said. FSA said eligible farms may add up to 30 million new base acres nationwide under the Working Families Tax Cuts Act, also known as the One Big Beautiful Bill Act. The agency said ARC and PLC help protect producers when market prices or revenues decline. Farm Progress reports that the update is the first ARC-PLC base acre expansion in 24 years and will use 2019-23 planting history. FSA said summaries will be mailed to landowners and available online through Login.gov. Operators who rent ground are encouraged to contact landowners. If eligible requests exceed the national cap, USDA said approved acres will be reduced on a prorated basis.

Ohio Soybeans Face Wet Soils, Frost Damage

Ohio soybean growers are dealing with uneven stands after prolonged rain and a May frost damaged early-planted fields. Farm Progress reported Friday that wet, oxygen-starved soils have slowed crop development across much of the state, especially in the southern two-thirds. Agronomist Luke Schulte told Farm Progress that many beans are yellow or neon green because saturated conditions are limiting growth. The USDA Crop Progress report said soybeans were 57% planted and 38% emerged for the week ending May 24, slightly behind the five-year planting average but ahead on emergence. Topsoil moisture was reported 52% adequate and 47% surplus. Farm Progress reported that some southern Ohio growers replanted after complete stand losses or reductions from the May 3rd frost. Warmer, drier weather is expected to help remaining fieldwork and crop recovery in coming days across Ohio.

Monday Watch List

Markets

To begin the month of June, USDA will release their usual Monday Export Inspections report at 10 a.m. CDT. In the afternoon, USDA will release their monthly Grain and Oilseeds crushing reports both at 2 p.m. CDT. Finally, the weekly Crop Progress report will be out at 3 p.m. CDT, which will include an update of planting progress as well as the first look at national corn crop ratings.

Weather

A cluster of thunderstorms in Missouri and southwestern Illinois have some severe pockets of weather early Monday morning. The cluster is forecast to move southeast through the Tennessee Valley and into northern Mississippi and Alabama Monday afternoon. A system in the Northern Plains is stalled, bringing heavy rain to Montana and Alberta, but will also be the source of some stronger thunderstorms in the Central Plains this afternoon and evening as well.