November 9, 2026

Soybean Prices Face Pressure Despite Strong Export Demand

U.S. soybean farmers are facing continued price pressure as record production prospects and competition from Brazil outweigh signs of stronger demand. Farm Futures reports soybean futures fell nearly 6% during October, their worst monthly performance of 2026. USDA currently estimates the national soybean yield at a record 53.1 bushels per acre, with total production projected at approximately 4.56 billion bushels. The November crop report could bring additional adjustments as the fall harvest nears completion. Despite the bearish production outlook, analysts point to increased Chinese purchases and record domestic soybean crushing demand as potential sources of price support. Brazil remains a major competitor, accounting for approximately 80% of China’s soybean imports so far this year. Favorable planting conditions in Brazil could further increase global supplies. Farm Futures reports some analysts believe stronger demand could support a price recovery, although South American weather and production will remain important factors.

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Ethanol Production Reaches Nine-Month High

U.S. ethanol production climbed to its highest level in more than nine months, providing continued demand for corn as the fall harvest moves toward completion. The Energy Information Administration reported ethanol output averaged 1.143 million barrels per day during the week ending Oct. 30, up from 1.118 million barrels the previous week. Successful Farming reports production reached its highest level since Jan. 9. Midwestern ethanol plants accounted for most of the increase, with regional production rising to 1.09 million barrels per day from 1.062 million a week earlier. Production increased slightly along the West Coast but declined in the Gulf Coast and East Coast regions. Despite higher production, ethanol inventories fell to 24.434 million barrels, down from 24.523 million the previous week. The figures indicate continued processing activity in the ethanol industry, an important source of demand for domestically produced corn.

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USDA Awards $32 Million to Expand Local Food Markets

The Agriculture Department is awarding more than $32 million to help farmers develop local markets and connect consumers with domestically produced food. USDA announced Thursday that 99 projects will receive funding through three programs designed to strengthen local and regional food systems. The Farmers Market Promotion Program will distribute $13.8 million to 45 projects in 26 states and territories. Funding supports farmers markets, roadside stands, agritourism and direct-to-consumer sales. Another $13.8 million will support 46 projects focused on food processing, distribution, storage and marketing. Eight regional partnerships will share $4.6 million to help connect agricultural producers with schools, hospitals and other institutions. USDA says the investments are intended to create new marketing opportunities, strengthen supply chains and keep more food dollars in agricultural communities. The programs are funded through the Local Agriculture Market Program, established under the 2018 farm bill.

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USDA Revises Dairy Grant Matching Requirements Following Industry Concerns

USDA has revised matching requirements for its Dairy Business Innovation Initiatives program following concerns from dairy industry organizations. The Wisconsin Cheese Makers Association announced Thursday that USDA will no longer require the program’s four regional centers to provide matching funds for federal grants or administrative activities. However, dairy farmers and processors receiving grants through the centers must contribute matching funds ranging from 10% to 25% of the federal funding requested. The original proposal required a 25% match more broadly, raising concerns that regional centers could struggle to continue operating. The program provides grants, technical assistance and business development support to dairy operations nationwide. USDA has allocated approximately $12.65 million for the 2026 program. The four centers operate in California, Tennessee, Vermont and Wisconsin. The revised application deadline is Jan. 4, 2027.

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USDA Announces $80 Million for Animal Disease Preparedness

USDA announced Thursday that it will provide up to $80 million in fiscal 2027 funding to strengthen the nation’s ability to prevent, detect and respond to livestock diseases. According to USDA’s Animal and Plant Health Inspection Service, $40 million will support state and regional animal disease preparedness efforts, while another $40 million will assist livestock industry organizations and veterinary response programs. The funding will help improve disease surveillance, diagnostic capabilities, emergency planning and coordination among federal, state and industry partners. USDA also announced that annual funding for three major animal health programs has increased from $30 million to $233 million. The investments are intended to protect livestock producers from economically devastating disease outbreaks that can disrupt domestic production and international trade. Applications for the two new funding opportunities must be submitted by Jan. 7, 2027, according to USDA.

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U.S. Soybean Exports Reach Marketing-Year High Despite Slower Sales

U.S. soybean exports reached their highest weekly level of the marketing year, although new sales declined sharply, according to the latest Department of Agriculture export report. USDA reported soybean shipments totaled 2.53 million metric tons during the week ending Oct. 29, the largest weekly volume since the marketing year began Sept. 1. However, new export sales fell 44% from the previous week to 1.46 million metric tons. China accounted for approximately 874,000 metric tons of those purchases, underscoring its importance to American soybean producers. Corn export sales totaled 1.29 million metric tons, while wheat sales declined 37% to 538,000 metric tons. The figures highlight continued demand for U.S. agricultural commodities despite uncertainty surrounding international trade and competition from South American suppliers. Export performance remains an important factor influencing commodity prices and farm income as producers market their recently harvested crops.

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