Price indicators for key farm inputs tumbled on Monday following news of the U.S.-Iran preliminary peace deal. The value of urea at New Orleans, a benchmark for North American nitrogen fertilizer, fell about 5% from Friday, or roughly $20, according to Josh Linville, vice president of fertilizer for StoneX. That marks a 53% drop from a high earlier this spring, he says.
Agricultural Economy
Grain & Oilseed Prices Fall on Strait of Hormuz Reopening
Grain and vegetable oil futures declined on expectations a potential reopening of the Strait of Hormuz would improve access to vital crop inputs, helping to ease the threat of food inflation brought on by the months-long war in the Middle East.
US Winter Wheat Crop Smallest Since 1965, USDA Says
The U.S. Department of Agriculture on Thursday cut its U.S. winter wheat crop outlook by 2% from a month earlier as a harsh drought in the Plains cut its hard red winter wheat production view to the lowest since 1957 and total winter wheat production to the lowest since 1965.
Trump Says US ‘Not Looking to Renew’ USMCA Trade Agreement
President Donald Trump said on Wednesday that the U.S. might not renew its free trade agreement with Canada and Mexico and criticized trade deficits with those countries, although he said he was talking with their leaders about the matter.
Urea Prices Return to Pre-Iran War Levels in the U.S.
The Iran war risk premium that swept through crop and fertilizer markets is rapidly evaporating as fears of prolonged supply disruptions fade. Prices for granular urea in New Orleans dropped to $453.50 per short ton, the lowest level since Feb. 6, according to Friday data from Bloomberg Green Markets. That’s down 36% from mid-April.
Canada Bans Texas Livestock Imports After Second Screwworm Case
A second case of the flesh-eating New World screwworm has been confirmed in South Texas, intensifying concerns among agricultural officials and prompting Canada to suspend livestock imports from Texas as authorities mount an aggressive response to prevent the parasite from spreading deeper into the United States.
New World Screwworm Case Confirmed in U.S.
USDA confirmed the first detection of New World screwworm in the United States in decades after identifying the pest in a 3-week-old calf in South Texas, prompting an aggressive federal and state response aimed at containing the outbreak of the parasitic insect.
China Placing New US Soybean Orders, USDA’s Vaden Says
Deputy Agriculture Secretary Stephen Vaden said he expects China to honor its pledge to buy more American soybeans this year. Vaden said at The Wall Street Journal’s Global Food Forum that China has started placing orders for soybeans that are being planted right now across the U.S.
Trump Cuts Tariffs on Ag Equipment to 15%
President Donald Trump on Monday moved to reduce tariffs on heating and cooling equipment and certain heavy industrial and agricultural goods, as well as cutting levies on products from abroad made with American metals. The move is the latest by the Trump administration to limit the collateral damage of its trade wars.
FTC Confirms Probe of Rising Fertilizer Prices
The Federal Trade Commission recently launched an antitrust investigation into the rising costs of fertilizer in the US, the agency’s head said at an event in Texas on Thursday.
Farm Bankruptcies Hit Six-Year High in April
During the month of April, 62 bankruptcies were launched under Chapter 12, a 130% jump from April 2025 and the highest monthly total since February 2020. That figure is also 82% higher than the 34 Chapter 12 filings in March 2026, the data showed.
Lawmakers Target Meatpacker Consolidation Amid High Prices
Sen. Chuck Schumer on Friday introduced legislation aimed at lowering grocery prices by increasing competition in the meatpacking industry, arguing that consolidation among the nation’s largest meat companies has contributed to higher beef prices.
Trump Defends Chinese Purchases of U.S. Farmland
President Donald Trump defended Chinese purchases of U.S. farmland during a trip to Beijing (last) week, arguing that restricting foreign ownership would hurt American farmers by driving down land values. Trump’s Beijing comments appear to conflict with policies his administration itself promoted over the last year.
Accelerated Permitting, Grant Program to Boost Domestic Fertilizer, USDA Says
The United States Department of Agriculture is taking new steps to expand domestic fertilizer production, Secretary Brooke Rollins said at a press conference Tuesday, including accelerated permitting and the reviving of a Biden administration grant program to boost U.S. fertilizer production.
Deere Right-to-Repair Settlement Gets Preliminary Approval
A federal court on Monday granted preliminary approval to John Deere’s proposed antitrust settlement with farmers who filed right-to-repair lawsuits, giving producers until September 2026 to file objections. At the same time, a Chicago landscaping contractor sued Deere (last) Thursday in U.S. District Court in Illinois, accusing the company of many of the same antitrust violations alleged in a recently-settled $99 million lawsuit filed by farmers.
China to Buy $17 Billion in US Farm Goods Annually
China will purchase at least $17 billion in U.S. agricultural products annually through 2028, in addition to soybean commitments already agreed to, the White House said in a fact sheet released Sunday. The announcement followed President Donald Trump’s visit to Beijing last week for talks with Chinese President Xi Jinping and was among the few concrete deliverables from a summit Trump had pitched in March as a ‘monumental event.’
Worsening Spring Drought Puts U.S. Wheat at Risk
The United States experienced its worst spring drought on record last month, with more than 60% of land in the lower 48 states experiencing moderate drought or worse. The drought has sparked alarm among farmers and environmentalists across the country, who warn that food supplies may be impacted and wildfires may blight areas where they are not usually seen.
DOJ Reaches Settlement with Agri Stats Over Meat Price-Fixing
The U.S. Department of Justice and six states settled their antitrust lawsuit against data company Agri Stats on Thursday in a move DOJ officials said would lower meat prices for consumers.
Farmer Sentiment Falls in April on Input Cost & Availability Concerns
Farmer sentiment weakened in April as producers continue to grapple with rising input costs and ongoing uncertainty about availability, according to the latest Purdue University Ag Economy Barometer.
DOJ Confirms Antitrust Probe Into Beef Processors
Acting Attorney General Todd Blanche on Monday confirmed a Justice Department investigation into major beef processors for potential antitrust violations and separately teased that the agency has neared a settlement in its case against Agri Stats.