December 03, 2025
Large 2025 U.S. Corn Crop in Excellent Condition
The U.S. Grains and BioProducts Council’s 2025-2026 Corn Harvest Quality Report contained some good news about this year’s large corn crop. The 15th annual survey showed that the 2025 U.S. corn crop is projected to be the largest on record at 425.53 million metric tons, or 16,752 bushels. The crop is also highlighted by the lowest rate of broken corn and foreign material (BCFM) in the report’s history, a remarkable accomplishment for the entire corn value chain. This year’s crop, on average, is entering the market with characteristics that met or exceeded each grade factor’s numerical requirements for U.S. No. 1 grade corn. The report showed 87 percent of the samples met all grade factor requirements for U.S. No. 1 grade, and 97.8 percent met the grade factor requirements for U.S. No. 2 grade corn. The report is based on 621 yellow corn samples taken from 12 top corn-producing states.
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Future Outlook Drives Farmer Sentiment Higher
Farmer sentiment strengthened in November as rising crop prices and improved export prospects pushed the Purdue University/CME Group’s Ag Economy Barometer to 139, the highest level since June. Much of the increase was driven by a sharp 15-point jump in future expectations, even as current conditions held steady. The Future Expectations Index rose 15 points to 144. Financial outlooks improved alongside a 10-15 percent rally in fall-delivery corn and soybean bids, helping offset weaker cattle prices in the livestock sector. However, producers remain cautious as capital investment slipped further, and fewer farmers say today is a good time to expand. Long-term farmland value expectations reached a record high, while most corn producers anticipate stable cash rental rates heading into 2026. The survey also showed shifting crop production strategies as growers respond to projected tight operating margins, including lower-cost seed traits, reduced phosphorus applications, and adjustments to seeding and nitrogen rates.
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India Expects Trade Deal with U.S.
India expects to secure a new trade deal with the U.S. before the end of 2025. Reuters said most issues between the two countries appear to be resolved. The U.S. imposed import tariffs of 50 percent in late August, even as negotiations were ongoing. Earlier in November, President Donald Trump said talks with India’s Prime Minister had been going well. The White House has been pressuring India to reduce oil purchases from Russia and bring down tariffs on multiple sectors, including agricultural trade. India’s trade secretary told industry leaders at a Federation of Indian Chambers of Commerce and Industry event that a trade framework needs to come first, which is where the countries would address reciprocal tariffs. Any additional issues can be addressed at a political level, and they’re optimistic that a solution will happen before the end of this calendar year. India’s trade deficit with America hit a record high in October.
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Sugarbeet Growers Executive Director Announces Retirement
The American Sugar Beet Growers Association Board of Directors announced the scheduled retirement of Executive Vice President and CEO Luther Markwart on December 31, 2026. “Sugarbeet growers across the country have enjoyed the benefits of Luther’s leadership for over four decades, compiling a long list of achievements for our growers,” said Neil Rockstad, a sugarbeet grower from Minnesota and the president of the ASGA. “Luther has been a consummate professional, leading our industry on a variety of issues to position our multi-generation family farms for future success.” Rockstad also said Markwart will leave behind a legacy of dedicated servant-leadership, defined by hard work and commitment. Markwart will have served with distinction as the association’s CEO for 44 years, in addition to the three years he served as a regional sugarbeet grower representative for Michigan and Ohio. “I’ve worked with some of the finest grower leaders in American agriculture,” Markwart said.
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RFA Calls for Reciprocal Tariffs on Chinese Imports
The Renewable Fuels Association thanked the Trump administration for its effort to enforce a 2019 trade agreement with China, noting in comments to the U.S. Trade Representative that China didn’t satisfy its commitments. The RFA says China failed to satisfy its commitment to increase trade in ethanol and distillers’ grains. So, the Association called on the White House to implement reciprocal duties on U.S. imports of Chinese ag products. “We applaud the USTR’s Office for taking a closer look at China’s failure to deliver on its Phase One commitments, which resulted in a lost market opportunity for U.S. ethanol producers and farmers and caused significant financial losses,” said Geoff Cooper, president and CEO of the RFA. Cooper added that China purchased only 58 percent of the total U.S. goods and services exports in 2020 and 2021, which it had committed to buy under the Phase One Agreement signed in 2019.
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Corn Inspections for Exports Down Week to Week
USDA says inspections of corn for delivery declined week to week, while soybean assessments improved for the week ending on November 27. Corn inspections during the week fell to 1.42 million metric tons, down from 1.7 million tons a week earlier and well ahead of the 949,000 tons inspected during the same week last year. Soybean examinations for export rose to 920,200 metric tons, up from almost 809,000 the previous week. It was still well below the 2.11 million tons assessed at the same point last year. Wheat inspections were reported at almost 385,000 metric tons, down from the 480,000 metric tons a week earlier, but still ahead of the 299,000 tons examined in the same week during 2024. Since the start of the marketing year, USDA has inspected almost 19 million metric tons of corn for export, and 13.2 million metric tons of wheat, both higher than last year.
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