Daily Ag Business Briefing: Grains Slip, a Bill Targets Midwest Crop Insurance Rates, Chevron Restarts an Iowa Biodiesel Plant

Grain markets gave back some of this week’s post-WASDE gains, a new bill takes aim at Midwest crop insurance rates, and biodiesel demand got a boost in Iowa. Here is the farm-business rundown for Friday, Nov. 13, 2026.

Markets close (Thursday, Nov. 12)

Brownfield said profit taking and technical selling pushed corn, soybeans and wheat lower. December corn settled at $4.42½, down 5½ cents. January soybeans fell 11¾ cents to $12.19, and December Chicago wheat lost 15¼ cents to $5.84¼, according to Brownfield’s closing table. Meal and soybean oil also slipped.

China bought 136,000 tons of U.S. soybeans before the open, and Brownfield said Presidents Trump and Xi are expected to talk trade at next week’s APEC meeting. South American planting weather looks mostly favorable, though parts of Brazil need rain. In wheat, colder weather could push some of the winter wheat crop into dormancy as soon as this weekend. Brownfield noted reports that China bought at least 120,000 tons of French wheat.

In livestock, January feeder cattle gained $3.87 to $331.67 while December live cattle eased 7 cents to $218.90, Brownfield reported. Cash cattle trade was quiet. Kansas bids of $215 live were passed, and trade looked likely to wait until the end of the week. December lean hogs fell 87 cents to $55.15. December crude oil rose $2.21. For official settlements, see CME Group agriculture markets.

The weekly EIA ethanol report showed production of 1.13 million barrels a day. That was down 13,000 from the prior week’s multi-month high but up 55,000 from a year ago, Brownfield said.

Business items

1. Bill targets Midwest crop insurance premiums

Rep. Eric Sorensen, D-Ill., introduced the Fair Premiums for Farmers Act. It would make USDA study loss ratios by state and crop and draft a plan to adjust premiums within three years. Illinois lawmakers estimate a fix would cut Midwest corn premiums 22% and soybean premiums 19%. Full story: what the bill would and wouldn’t change.

2. Chevron restarting Iowa biodiesel plant; Deere puts trucks on B100

Chevron’s Ralston plant, idle since March 2024, will run on soybean oil from the Landus crush plant next door, likely starting in mid-2027. Deere put five parts trucks on 100% biodiesel the same day. Louisiana and Alabama, meanwhile, are asking EPA to waive their 2027 RFS obligations. Read: what it means for soybean oil demand.

3. Diesel dips, but stays $2.29 above last year

EIA said on-highway diesel fell 16.5 cents in a week to $6.127. One Michigan-Ohio farmer told Brownfield his delivered off-road price fell for the first time this harvest. Our farm fuel guide explains how to claim the 24.3-cent-a-gallon federal credit on taxed diesel used in the field.

4. U.S.-built spray drone heads to the Central Valley

Rantizo will start Harvest 100 drone application in four California counties, using two crews to begin. The company says the drone is designed to cover 500 acres a day. Tariffs of up to 100% now apply to imported drones heavier than 25 kg. See the specs and what to ask before you hire a drone crew.

5. Drought Monitor: Delta worsens, Texas and Minnesota improve

This week’s U.S. Drought Monitor showed exceptional drought getting worse in eastern Texas, Louisiana, Arkansas, Mississippi and southeastern Oklahoma. The authors said NOAA’s National Centers for Environmental Information estimate those areas need 20 to 30 inches of rain over three months to end it. Drought also intensified from Illinois into southern Lower Michigan. By contrast, heavy rain brought one- and two-category improvements in South and West Texas and eased drought in most of Minnesota, Kentucky, southern Indiana and southern Ohio.

What to watch

• Today (Friday, Nov. 13): USDA Weekly Export Sales, delayed by Veterans Day, and CONAB’s updated Brazil crop estimates.
• Nov. 15: Missouri River navigation support ends at the mouth, and the Jones Act waiver extension for fuel and fertilizer shipments expires.
• Next week: APEC meeting, where Brownfield said Presidents Trump and Xi are expected to discuss trade.
• Dec. 10: next WASDE and Crop Production reports. Dec. 11: 2026 ARC/PLC deadline.