Feb 09 | Closing Market Report

Why It Matters

These updates combine market volatility, policy assistance, and trade negotiations, directly influencing farm revenue, planting decisions, and risk strategies for agribusinesses nationwide.

Key Takeaways

• CME corn and soy prices dip modestly; livestock futures rise
• Kurt Kimmel predicts tighter South American grain supplies amid dry weather
• USDA urges farmers to claim ad‑hoc payments via login.gov portal
• Net farm income forecast falls 0.7% to $153.4 billion in 2026
• Agricultural coalition pushes USMCA renewal to sustain export growth

Summary

The Illinois Public Media closing market report aired on February 9, 2026, delivering CME settlement prices, expert commentary from market analyst Kurt Kimmel, USDA updates, and information on upcoming agricultural events.

Prices showed modest declines: March corn settled at $4.28, down $0.015; soybeans at $11.11, down $0.045; wheat marginally lower. Livestock futures rose, and crude oil increased by $0.81. Kimmel highlighted South American grain outlook—Argentina’s corn may shrink due to drought while Brazil’s may expand—affecting export expectations. Corn shipments already exceeded forecasts at 1.3 million metric tons.

USDA Under Secretary Richard Ford announced the farmer bridge assistance program will be disbursed by the end of February through the login.gov portal, urging producers to create accounts promptly. The agency also projected net farm income to slip 0.7% to $153.4 billion, despite record government payments covering 29% of earnings. Meanwhile, a coalition of 40 farm groups called for USMCA renewal, emphasizing its importance for agricultural export growth.

For producers, mixed price signals and tighter South American supplies suggest maintaining flexibility in marketing and cash‑grain sales. Policy measures—prompt ad‑hoc payments and trade agreement stability—are critical to offset declining profitability and rising bankruptcy rates, underscoring the need for strategic risk management.

Original Description

- Curt Kimmel, AgMarket.net

- Has the US Crop Safety Net Become Excessive

- Mark Russo, EverStream.ai

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