U.S. corn delivered to Asia is priced 30¢ higher than Brazil’s corn, which means a corn rally will be difficult until the price differential comes more in line. Soybeans have more opportunity moving forward. USDA lowered yields again, and if ending stocks are realized, it would be the tightest carryout since summer 2016.

In a nationwide first, Arkansas, under the direction of Gov. Sarah Sanders Huckabee, will enforce foreign-ownership land restrictions. On Oct. 17, Huckabee ordered Northrup King Seed Co., a subsidiary of Syngenta owned by ChemChina, to divest of 160 acres of farmland within two years. Additionally, Arkansas Attorney General Tim Griffin levied a $280,000 fine against Syngenta for failure to disclose ownership.

Farmers are opting to tap into their savings from recent prosperous years instead of taking out loans at the highest interest rates since 2007, according to surveys conducted by regional Federal Reserve banks.