August 14, 2026: Farmland Values Rise, New Soybean Herbicide

Today on AgNews Daily, we have so many few days we can actually spray it for them. It's just because of the wind, the environment, the rain, all those things. When they need to run, they need to be able to run and run with confidence. And not that we've tested every possible combination, but we've really tried to make sure that this product works well across all the systems out there. Oh, welcome back to a weekly edition of the AgNews Daily podcast, till we need help. We're joined remotely today by Michelle Stangler. Josie is headed back to school. It's Iowa State Fair. Minnesota State Fair, I think, starts. Wisconsin State Fair, is that coming up as well? And farm progression. We've got a lot of different events coming up here over the next few weeks. Yeah, we're in progress at the Wisconsin State Fair a lot happening there. Maybe a little rain, but heard some great things happening there. Of course, all the kids showing and different auctions that are happening there too. Yeah, I'm heading to the Iowa State Fair tomorrow for an energy/agriculture day at the fair. Not fully sure what to expect, but I suspect that I'll have some content to share with our listeners on the podcast next week. Great. That'll be fun to see. Absolutely. And then farm progress shows right around the corner, Michelle. So action packed here before harvest gets started. Weather's going to be top of mind though, as we get through the next few weeks, especially because the El Nino pattern is continuing to develop in the corn belts with active rounds of rain and severe weather expected to continue through to the weekend. While moisture is helping corn and soybean throughout this critical stage of development, rainfall has been hit or miss in quite a few areas, especially parts of the southern plains. Missouri and southern Illinois have also been hotter and drier. DTN's meteorologist John Boranic says that soybeans are especially in need of some moisture in those areas as they work to fill pods. While corn is moving through to the kernel fill stage, he also says that active patterns could continue through late August with some potential for rain to reach those drought-stressed areas further north. The heat story is much different across the south and southern plains where hot muggy conditions are expected to persist and dry areas could stay dry. Boranic says the El Nino condition is also bringing some benefits to the western states by boosting this summer monsoon, but the southern plains remain a concern. Looking further, head forecasters are watching a record pace El Nino and what it could mean for the weather into fall and harvest season. While looking into crop progress conditions, the latest crop ratings are mostly steady to lower, following another week of wide-range weather across key growing regions. Corn held at 61% good to excellence with 94% silken, 61% in the doe stage and 16% dented. Soybean slipped to one point to 62% good to excellent with 93% silken and 74% setting pods. Here, I can spring wheat though, so the largest decline among the major crops down 4.251% good to excellence by 24% has been harvested ahead of that 5-year average. While Michelle, the Senate Farm Bill remains stalled this week with Democrats opposing the Republican proposal over changes to the SNAP cost-sharing requirements. Senate Agriculture Chairman John Boseman says he plans to bring the same bill back for another vote when the committee reconvenes in September after the measure failed to advance last week. Minnesota Senator Amy Klobuchar, the committee's ranking Democrat, says she remains committed to reaching an agreement with Boseman, but once a two-year delay before states and counties take on more responsibility for SNAP costs. Republicans have offered eight one-year delay, but Senator Chuck Grassley says another one-year Farm Bill extension could be needed if the committee can't reach a bipartisan agreement. Farm aid and year-round E-15 are also tied to separate legislative efforts moving through Congress. Senator Grassley says he expects about $12 billion in additional farm aid to move forward as part of a military spending package, while another budget includes about $10 billion in farm aid, but does not include E-15. In a Rand War supplemental package could also provide an opportunity to advance year-round E-15. Klobuchar continues to support permanent year-round E-15 and says she will continue working with Senator Boseman on the Farm Bill amongst other issues. A lot of potential paths will continue to share it here on Agnews' daily, as I know that E-15 has been certainly a 20-26 theme of what can that look at the federal level. Canadian and U.S. trade officials continuing on that policy front are working to avoid a new round of tariffs set to take effect August 19th here in just a few days. Canadian Minister for U.S. trade relations Dominic LeBlanc met with U.S. trade representative James N. Greer this week on Tuesday marking the third meeting between trade officials from the two countries in three weeks. President Donald Trump has proposed 50 percent tariffs on nearly $20 billion in Canadian imports, including some products previously exempt from the U.S. Mexico-Canada agreement. For U.S. farmers and ranchers here, the negotiations are important because Canada is a major market for American agriculture products just to remind of there as we've shared it here on Agnews' daily. Canadian officials have indicated they could offer concessions on some U.S. trade concerns in exchange for dropping the proposed tariffs. If the new tariffs take effect, they could raise costs, disrupt established trade flows, and potentially affect demand for U.S. commodities. Something more continuing to watch here as those trade conversations continue here in tonight 26. Certainly a theme is trade. Well, another theme has always been labor and we're seeing more farmers of course rely on H2A workers and they're now facing potentially higher federally mandated wage rates under the latest adverse effects wage rates, also known as AWER. I think is how we would say that acronym. Cameron Castillo, an associate economist with the American Farm Bureau Federation, says wages are increasing in nearly every state, with Kansas, North Dakota, and Nebraska, among those seeing increases of around 20 percent from last year. The AWER is set annually by the Department of Labor based on its occupational employment and wage statistics survey with rates varying, of course, by state and territory. Castillo says Congress could provide more stability for farm employers by limiting how much the wage rate can increase from one year to the next. The Securing Agricultural Workforce Act backed by the House Agriculture Committee Chairman GT Thompson would cap the annual AOR increases to about three and a quarter percent. Castillo says that cap could have significantly limited the increases facing some of those employers and states such as Kansas, Nebraska, and North Dakota. So we'll see how that story continues to unravel, but we'll be back with more news right after this short break. Farming comes with trade-offs. An extra pass means dinner in the cab. An early morning becomes a late night. Unnecessary restrictions turn into headaches. But when you make and list herbicides the foundation of your herbicide program, the trade-offs will be in your favor. Effective weed control is ready to work when you are. Flexible tank makes options in neighbor friendly applications, all without the need to jump through hooves. See what you'll gain with America's most trusted herbicide system protecting your enlist E3 soybean fields at enlist.com. Looking in some land news, a lot of reports and some ideas here that was shared in the past few expi various organizations. Farmland failures continue to climb, although the pace of increases is slowing according to reports released last week. Danny Munch and economists with the American Farm Bureau Federation says the average value of U.S. farm real estate, including land and buildings, increase 3.4% to 4,500 in anchor in 2026. Cropland values rose 3.3% to just over $6,000 in anchor while pasture land increase 4.2%. He says farm real estate values are up 44% since 2020, but annual increases have cooled significantly from the double-digit gains seen earlier in the decade. High-earland values can strengthen the balance sheets of farmers and ranchers who own property by increasing equity in collateral for borrowing, he says. But Munch says those gains come with challenges for beginning farmers, producers looking to expand and renters who base higher costs without gaining equity. Competition from commercial and residential development, renewable energy products, projects outside investors and recreational or rural residential demand is also putting pressure on agricultural land, potentially removing more acreage from production over the long term. While we continue talking about farmland lease options are an interesting topic as well, there is no single lease arrangement today that consistently delivers the highest returns for farmland owners and operators according to some new analysis from Purdue University. Michael Langmire director of the Purdue Center for Commercial Agriculture says crop share, fixed cash rent and flexible cash rent each carry different levels of risk and reward. Fixed cash rent has provided the most stability while crop share and flexible cash rent have tended to see bigger swings depending on commodity prices and market conditions. Crop share leases can outperform fixed cash rent when markets are strong but they also carry more downside risk when margins tighten. Flexible cash rent falls somewhere in between, offering some potential upside while providing more stability than crop share. Langmeyer's cell is the best option ultimately depends on each operation's risk tolerance, and whether the terms of a flexible lease allow bonus payments to kick in. They look in here at the bigger picture of land, more than 150 million acres of US farmland could change hands over the next 10 to 20 years, creating one of the largest generational transfers of agricultural land in the country's history. The American farmland trust estimates more than 40 percent of US farmland could transition to new owners as aging land owners retire. With average US producer now over 58 to end many farmland owners 65 or older, more farms are approaching to this transition point. As the farmland passes to errors, some of whom may not farm, ownership can become divided among multiple family members. They mention some tips, without a plan, they can lead to disputes, forced land sales or fragmission of an operation. They say that's a state planning tool such as trust, LLCs, and FICEL agreements can help determine who owns and manages land while protecting its long-term value. The communication is just as important, and starting these conversations early can help families preserve both their farm and their wealth for the next generation. Well, China has stepped up to purchase more US soybeans with USDA reporting Chinese purchases of 238,000 metric tons of US soybeans last week. That puts purchases roughly one quarter of the way toward a commitment from China to buy at least 25 million metric tons of US soybeans annually through 2028. The Trump administration has also said that China has agreed to purchase at least $17 billion in additional agricultural products each year. Traders are of course watching closely for more trade signals ahead of an expected Trump Xi Jinping meeting in September coming up. And China has also announced new legal and trade measures targeting the US, including tighter export reviews and sanctions against several American entities. While those actions do not specifically target agriculture, changes in the broader trade relationship could influence soybean demand, commodity prices, and export planning for US farmers. Looking at some data recently released, US beef exports were slightly lower by volume in June, but export value climbed to $790 million, according to the US Meat Export Federation. President Dan Halshram says Taiwan remains an important market with strong demand extending beyond premium cuts to less utilized products such as rounds, check rolls, and short plates. He says that broad demand is helping support the value of US beef exports. Demand is also growing in Latin America, particularly the Dominican Republic, where US beef is gaining ground in the expanding modern retail sector. While the loss of China as a major market has reduced overall export volume, Halshram says the higher value of shipments to other markets shows the benefits of diversifying US beef exports. While Michelle the USDA says a new Texas facility designed to produce cereal flies for new world screw worm control will open in the spring of 2027 earlier than previously expected. The facility is expected to produce 100 million sterile flies per week by the end of 2027, increasing to as many as 300 million weekly by the end of 2028. First estimate roughly 500 million sterile flies are needed to push screw worm populations south toward the Darian gap and natural barrier between Central and South America. The accelerated timeline comes after the first US infestation of new world screw worm in three decades was detected of course earlier this month or earlier this year excuse me in Texas. USDA and the Department of Homeland Security are also expanding their resources and response to a biosecurity agreement. The agency's plan to use unmanned aircraft, artificial intelligence and real-time data sharing to strengthen screening and respond to agricultural threats including screw worm and just as an interesting side note Michelle I have found it fascinating on especially our Tik Tok channel when we post about new world screw worm. There are a lot of comments on those reels with a lot of interesting opinions as it relates to new world screw worm and the sterile fly population. I haven't had the conversation yet but to hear what was new world screw worm has erraticated quite a few years ago I can only imagine those producers have a lot of stories to tell so yeah definitely a lot of engagement they're talking about new world screw worm but another thing that we talked about earlier on the show that's expanding a little more about is dryness. July runoff in the Missouri River basin above Su City, Iowa totaled 2 million acre feet or 61% of average according to the U.S. Army Corpse of Engineers. Runoff was below normal to well below normal in the Fort Peck, Garrison and Ohio reaches while conditions were better farther downstream. The basin's 2026 runoff forecast remains at 15.4 million acre feet or 60% of average which would rank as the 11th lowest runoff on record if realized. We had several major agribusiness companies release their 2026 earnings outlook pointing to stronger demand across key crop markets and improve processing margins. ADM increased its full-year profit forecast after better than expected quarterly results saying higher grain prices encouraged farmers to move stored corn and soybeans boosting deliveries to ethanol plants and sweeping processors. Corteva also raised its earning outlook citing solid demand for seed products as farmers continue shifting acres towards soybeans, although it says farm income remains under pressure from mixed commodity prices. We also reported the an unexpected increase in quarterly profit helped by stronger seed technology sales there as well. The stronger outlook points to solid demand across several areas of the ag sector even as farmers continue to navigate higher production costs and uncertain commodity markets. Well in this week's interview we're talking all about weed management. It remains an important part of protecting soybean yield specifically and Corteva has announced a new herbicide design to help farmers tackle that challenge. Our team was able to catch up with Eric Shorter at Corteva's summer media day just a few short weeks ago to learn more about this new product. Well, Corteva had some big news here recently launching the new enclosed soybean herbicide where with Eric Shorter of Corteva Agresscience to talk about that. And I loved Eric at the Corteva media days the way that you launched the new enclosed herbicide were part of the end crowd. Right. Which I think we'll talk about a little bit more later on just the different products that fit within that system. But what an exciting announcement. Talk to us a little bit about the work that goes into launching a new herbicide like this. Well, with any new product you launch, whether it's a herbicide, fungicide, insecticide, it really doesn't matter. You've got to understand what your customers are looking for. What you're trying to achieve and can you deliver it in a solution that is going to provide value. And we tried to do that. We've done that within Versa, which one of a product we're kind of piggybacking off of a little bit here. With that encapsulated acetylore, we've sold out. I mean, the uptick of that product in one year has been phenomenal. I mean, just a lot of value we're bringing with less crop response that group 15 residual acetylore. But what we also heard our customers indicate is they'd like a little bit more residual activity on some larger seated broad leaves. And that's where we bring in that chlorance lens. We got different modes of action in there. It's chlorance lamp new by no means. We've typically used it in other products, but those were dries. And you think about today's farmers, they're getting more and more acres. They're more really adapted to liquid systems. They want that liquid system because it's just easier for them, especially when they're trying to get four, five hundred acres a day if they can. Well, this gives them that liquid, this is ZC formulation. And what does ZC mean? It's an alphabet soup game we play at times. ZC, so think about this way, Dling, oil and water, just they don't mix. You know, so how do we get two different or dissimilar things to play well in the tank and behave the way we wanted to? In this case, we're having a capsule suspension, so something encapsulated. In this case, ZC decor with a suspension concentrate of that orange lamp. It's great to get them to play together, but they've got to be shelf life stable for up to two years. They've got to handle well for a grower. They don't want to have to mix it every 10 minutes. You know, all those things that maybe we don't think about for growers have to experience. We want them to have a good user experience. And that's why we've been able to deliver with that ZC formulation. Yeah. And the commercialization process for new chemistry like this takes years in the making because you have to take your feedback. You have to do all the testing. You mentioned the two year shelf life. I'm sure that was part of the testing process as well. How long did it take to get this? Even on a product where we know the attributes very well, which we know both these actives very well, it still will take us five, six years because you're going to have by the time you do what we call a beta testing, looking at formulations. You know, you can develop a lot of different formulations of the same product and some just don't deliver. Whatever reason, we're different solvents, different suspension agents, certain factors, all those things. But then once you got to get your weed control data, make sure the crop safety data, and once you get all that kind of done, then you submit for the EPA, then you add another two years, and it just takes a while to bring out a new one. new product. It's a lot, but it's very exciting. I think growers are going to react really favorably to this. How do you look at enclosed and the benefits it brings versus some of the others in less products, your in-versa product? How does it compare to the rest of the portfolio? So when I think about, you know, when you think about the soybean market in general, when you're down south, and I'm calling the mid-south, that southeast, they're farming very, you know, the weed spectrum, time of year, all that there's just different growing aspects there. Versus say, a farmer in Iowa versus someone in Pennsylvania versus someone in Dakota's, different weeds, different things. The folks down south with their really want is they want enclosed a pre, and they want that techniques compatibility with products like metribusen, so ventrason, when the oxen. So they want to be able to really mix their own a little bit to meet the weed spectrum. For here, for us in the mid-west, we're planting a lot of our beans early. We're planting beans, you know, putting wool coats on them and put them in the ground, and they come up 21 days later. Well, because of the seed treatments, a lot of the advancements and genetics, we get really good stands, but we need our premium residuals there. So we're still going to stick with Kiber Pro and Sonic Boom, some of those products to give us that six to eight weeks residual, but where this product really comes into is for that grow. They want that in the list-week control system. They still want in list one. They're maybe using a lymphocinate or glyphosate, they don't have their system, but they need more in-season residual, and they want it a little bit broader spectrum. They want more, that larger seed of broadleaf aspects there. On top of what in-versa was delivering, that's where in-close it comes in. It gives them more options, more residual activity to really get them to canopy closure. And you mentioned the tank mixing. I think that's a really important part point. I want to make sure we touch on a bit more because tank mixing, compatibility, agitation, all of those were things that we talked about at the court of a media day. Walk us through how a grower may use this product, and why that is such an important component. So you know, when you think about how we're farming today, we say it's maybe just two actives, but there might be more likely it could be AMS, there could be a micronutrient in there, there'll be surfactant in there, maybe a drift agent in there, another product, next to you know, you got seven, eight different products, and not always just all that play well together. So that's why we have a, you know, a lot of testing we do with our formulation group. We purposely try to really put it through the basis and do everything I want to say wrong, to find out where's the break points, so that when a grower is, and as we all know, we have so many few days we can actually spray along. And we've got to some 10 way combinations. It's just like, we put a splash of water in the tank and here we go. That's great. So up to 10 different combinations. Yes. Okay. But because you start thinking about of our post market, we could have an insecticide, a fungicide. And list one, we fascinate AMS in Closa, a drift agent, if they want to add that in. Maybe a couple surfactants, so that's just, that's eight or nine right there alone. And that's not even uncommon. Yeah. And it makes sense. You're trying to maximize every pass you make in the field. So yes, I think it's reassuring to hear that December has that in mind when they're testing about again, we've not tested every combination out there, but we know going in for most growers, that's $8 to $10 an acre just for your application costs. Whether, whether growers want to admit that to themselves, if they're doing their own spraying, they're time, they're labor, they're wear and tear and all their machinery. That stillifies it's seven, eight bucks an acre. Most applications are about 10. Well, if we can cut a one pass out, that's a full bushel almost any more right there in savings right there for that customer. So Eric, as we think about the commercialization and when this will be available for growers, you announce that at the 2026 media days, is it going to be commercial available? Yes, so we'll start selling here in Q4, 2026, to be utilized next year for 2027. So the folks down south, but use the more more likely prey, they might use it post. And then most of our Midwest, North, Northern customers will probably be doing that early post application soybean. Such an exciting time. I think a lot of soybean growers are going to be excited to hear this news. Is there anything Eric, we miss? That's important for them to know about. When I think, you know, especially as we go into 2027, we fully realize the economy is going to be a tough environment. Growers are always looking for ways in areas that can shave a cost. And that's important. We've got to be very mindful of our dollars. But generally speaking, if you start to shave your residuals, and start shaving some of those costs out, you're going to spend proportionally more dollars trying to go after a bad decision, at least in weak control. And plus you got another $10 application cost there. So by spending a little bit of money up front on your residuals, not backing them down, you can really have a very successful weak control program. And save yourself money going along to them. I know that's a tough, and that's easy to say on this side of the fence. But I think a lot of growers have done that this year will realize that was a really good decision. And I didn't waste my money, and I've got good clean fields, optimizing that deal. Fantastic, Eric. Well, before I let you go, if any of our listeners have more questions about and close a work? Oh, absolutely. One, always talk to your local Corteva sales rep because they're the person that knows your local farming practices better than I do sitting here in Joss and I with a day. How you're going to use it, the trends that things, or reach out to your Corteva trusted retail partner. Those are folks, again, boots on the ground there, or business at Corteva.us/Closa. They can find more information there or just any of our products in general. Fantastic, Eric. Well, thanks for joining us on the podcast. Absolutely. Sure enjoyed it. Thank you. Well, Delaney, we appreciate you hearing all about this new herbicide and talking to the Corteva team and our intern was there. So what a fun day our team had there. But talking a little bit about a fertilizer update fertilizer and diesel prices remain elevated as farmers make fall input to decisions for the 2027 crop. USDA data analysis analyzed by the University of Illinois shows end-hydrous ammonia average just over 915 dollars per tonne on August 7th up 16 percent from a year ago. While DAP average just over 912 dollars up 7 percent. Potash was more stable at about $500 per tonne while Illinois diesel prices climbed back to $4.65 and gallon after falling below $4 earlier this summer. University of Illinois researchers suggest farmers consider diversifying those fertilizer purchases, reviewing application rates and using soil tests and maximum return to nitrogen recommendations as a myonage higher input cost. I know we talked about it all summer and I feel like all year but gas prices and diesel prices they are still at that high rate of you know found at the pump. Absolutely they still are and commodity prices are still trying to find their footing after third Wednesdays wise de-report. A lot of headlines coming out of that report that sparked some excitement in the market so let's chat a little bit about that. As we looked from analysts' reactions they viewed the report as generally supportive or bullish for corn with a slightly more neutral to bearish outlook for soybeans. Following their report corn futures rallied while soybean gains had happened earlier in the trading sections started to fade. When we look at some of those specific results the USDA lowered the 2627 yield forecast to about a 180 just over 180 yield but they raised harvested acres kind of neutralizing that piece of the puzzle but they also reflected stronger exports which pushed ending stocks lower. In fact tighter ending stocks they used a 10.1% ratio for that and really what the market is looking for here is less than 10% stocks to use ratio. That's when the market could start to get a little wild get a little fireworks underneath it so a lot of farmers I've been seeing online and just chatting with here over the last couple of days after that report was released. A little optimistic about what's ahead here for corn futures especially as we think about that tighter stocks to use ratio. On the soybean side of things harvested acres raised or excuse me increased about 1.4 million acres while yield was also slightly lowered there. Production rose overall but ending stocks are also showing increased as exports were unchanged and crushed demand was raised. Wheat production and ending stocks were lowered just slightly while global wheat stocks increased from July and globally 2026, 2027 global corn stocks declined. Wheat stocks increased and soybean stocks were unchanged while Brazilians corn and soybean production estimates increased but Argentina's estimates declined. So a lot of good analysts posting some stuff this week I always love looking at Karen Braun's ex account when that wise year report comes at. She has a great job of breaking down just what that report meant and we like to share some of those things here on the podcast as well but that's it for this week's podcast you can find us on all major social media platforms Facebook X Instagram TikTok LinkedIn and X but with that Michelle what do you say we let the people go. Let's let them go.