Daily Ag Business Briefing, Nov. 9: Congress Returns, Wheat Near 4-Month Low, WASDE Tuesday

Farm country starts the week with Washington back in session, a monthly USDA crop report a day away and wheat leaning on peace-talk headlines. Here is the farm-business rundown for Monday, Nov. 9, 2026.

Markets close (Friday, Nov. 6)

According to Brownfield’s closing report, December corn settled at $4.41½, up 1½ cents; January soybeans at $11.93¾, up 5½ cents; and December Chicago wheat at $5.91¼, down 8 cents. December live cattle closed at $214.05, down 35 cents; January feeder cattle at $318.37, down $1.95; and December lean hogs at $53.52, down $1.57. December Class III milk ended at $16.73, and December crude oil at $90.83.

Brownfield’s grain desk said corn found fund and technical buying but still finished the week lower, while beans were mixed after a rough week. China bought 136,000 tons of U.S. soybeans before Friday’s open, its fifth announced purchase in six business days, and unknown destinations bought 101,000 tons of U.S. corn. Wheat took more fund selling as traders weighed peace-talk chatter against weak export demand. For official settlements, use CME Group agriculture markets.

Business items

1. Lame duck opens with the farm bill on the line

Lawmakers return today with government funding expiring Dec. 11 and adjournment scheduled for Dec. 18. Senate Ag Chairman John Boozman has offered a one-year delay in state SNAP cost-sharing; Democrats want at least two years, Agri-Pulse reported. Without a deal, the farm bill and year-round E15 likely stall. Full story: what’s at stake in the lame duck.

2. Wheat hits a four-month low as exports crawl

Wheat futures touched their lowest intraday level since June 30 late last week, Bloomberg reported, ahead of U.S.-mediated Russia-Ukraine talks in Abu Dhabi. Weekly U.S. wheat shipments in late October were the smallest in records back to 1983. Details: our wheat market story.

3. Fertilizer remains a budget problem

Nitrogen prices are still well above a year ago even with cheaper U.S. natural gas, Agri-Pulse reported. “Seven of eight major nutrients rose month over month, and all eight were higher year over year,” Susan Stroud of No Bull Ag wrote to clients Sunday. A weekly recap from Wright on the Market said Nutrien reported weak nitrogen sales as squeezed farmers delay buying, though it expects U.S. growers to catch up on fall applications in the coming weeks.

4. 2027 crop insurance add-ons change shape

For 2027, SCO covers county losses from 90% down to the base policy, ECO narrows to 95%-to-90%, and USDA says farmers can buy multiple endorsements on one policy, with details due to agents by Nov. 30. Explainer: what changes for SCO and ECO.

5. Equipment: Deere parts warranty doubles; driverless planting for 2027

Eligible Deere OE parts bought since Nov. 1 in the U.S. and Canada now carry 24 months or 4,000 hours of coverage (owner’s guide). Separately, Sabanto says its retrofit autonomy system will run planters equipped with Precision Planting’s Gen 3 20|20 monitor next spring (how it works).

6. South America weather in focus

Brazil had 53% of its soybeans planted by Oct. 29, running ahead of a year ago, yet parts of the country had seen no rain for 15 to 20 days as early beans began flowering, Wright on the Market said. Brazil’s CONAB updates its crop outlook on Nov. 13, Brownfield noted.

What to watch

• Today: USDA weekly export inspections and the afternoon Crop Progress report, with corn and soybean harvest and winter wheat condition updates.
• Tuesday, 10:30 a.m. ET: Senate Ag hearing on Gregory Ibach’s nomination as USDA trade undersecretary, plus Farm Credit Administration nominees.
• Tuesday, noon ET: USDA’s November WASDE and Crop Production reports. See our preview and USDA’s new AI data check.
• Nov. 10–11: Russia-Ukraine talks in the UAE.
• Thursday: USDA Weekly Export Sales. Friday, Nov. 13: CONAB’s Brazil crop update.