Daily Ag Business Briefing: WASDE Lifts Soybeans Nearly 40 Cents, USDA Proposes Grazing Rules, Export Sales Moves to Friday

USDA’s monthly numbers finally gave grains a lift, ranchers got a first look at rewritten federal grazing rules, and the Veterans Day holiday reshuffles this week’s report calendar. Here is the farm-business rundown for Wednesday, Nov. 11, 2026.

Markets close (Tuesday, Nov. 10)

Grains rallied after USDA’s reports. According to 680 KFEQ’s closing summary, December corn settled 9¾ cents higher at $4.49, January soybeans rose 39¾ cents to $12.28 and December Chicago wheat gained 4¾ cents to $5.92¾. December soybean meal added $5.80. Pro Farmer said December corn reached a two-week high and that heavy short covering featured in soybeans.

Cattle extended Monday’s rebound: December live cattle gained $3.00 to $219.20 and November feeders rose $2.00 to $330.35, 680 KFEQ reported, while December lean hogs slipped 7½ cents to $55.80. Brownfield credited the grain gains to fund and technical buying after USDA trimmed corn and soybean stocks. For official settlements, use CME Group agriculture markets.

Business items

1. Smaller corn crop, tighter soybeans in November WASDE

USDA lowered the corn yield 1.6 bushels to 179.6 per acre and production to 15.893 billion bushels, with Illinois down 8 bushels and Indiana down 5. Corn ending stocks fell 91 million bushels to 1.758 billion. Soybean yield rose to a record 53.3 bushels, but a 25 million-bushel export increase cut ending stocks to 300 million. Full story: what the November report means for your marketing plan.

2. USDA proposes first Forest Service grazing rule rewrite since 1977

The proposal would let ranchers qualify for permits with leased base property and livestock, give beginning ranchers priority for newly available forage and allow livestock use permits of up to five years. It keeps the $1.35-per-AUM fee floor but adds a surcharge for grazing livestock owned by others. Details: what ranchers should know before commenting.

3. USDA names a veterans liaison; benefits checklist

Army veteran Richard Lopez is USDA’s new Military Veterans Agricultural Liaison, and USDA said more than 240 veterans and military spouses joined the department through its “100 Hires in 100 Days” effort. Veterans who farm can claim extra crop insurance subsidy, fee waivers and loan preferences. Our guide: USDA benefits for veteran farmers.

4. North Dakota funds five ag tech trials

The NSF AgTech Engine is awarding $500,000 to five projects, including an AI cultivator from NDSU and a spore-detecting disease monitor at eight NDAWN weather stations, for producer testing in 2027. Read more: what each technology does.

5. New mid-size CVT tractors debut at EIMA

CLAAS launched the 120- to 160-hp ARION 4 CMATIC and DEUTZ-FAHR introduced a 7 Series TTV with a 6.7-liter FPT engine at the Bologna show. Spec comparison: CLAAS, DEUTZ-FAHR and Valtra side by side.

6. Export demand watch

Mexico bought 312,700 metric tons of U.S. corn and 150,000 tons of soybeans on Tuesday, Brownfield said, its third straight business day of announced corn purchases. Pro Farmer reported China’s agriculture ministry now sees 2025-26 soybean imports at 111.62 million metric tons, an upward revision.

What to watch

• Today: Veterans Day federal holiday; USDA moved its Export Sales report because of it.
• Thursday: EIA’s weekly ethanol data, delayed from Wednesday, according to Brownfield.
• Friday, Nov. 13, 8:30 a.m. ET: USDA Weekly Export Sales, per USDA’s Foreign Agricultural Service, plus CONAB’s Brazil crop update.
• Dec. 10: Next WASDE. Dec. 14: Comment deadline on the grazing rule, according to the Federal Register.