Headline Stack
💰 USDA doubles SDRP payment factor to 70% and extends deadline to August 12
📋 Supreme Court hears Monsanto v. Durnell on FIFRA preemption of failure-to-warn claims
🚢 Barge grain shipments jump 43% week-over-week to 719,627 tons
🌱 USDA terminates 49 of 50 Increasing Land, Capital, and Market Access projects
🌧️ Storm Prediction Center sets 45% severe risk across Illinois for Monday
Top Story
💰 USDA doubles SDRP payment factor to 70% and extends deadline to August 12. — LINK
USDA is raising the Supplemental Disaster Relief Program payment factor from 35% to 70% and pushing the program signup deadline from April 30 to August 12, 2026, for both Stage 1 and Stage 2. Producers with approved applications for 2023 and 2024 disaster losses will receive an additional 35% of their calculated SDRP payment, on top of the $6.7 billion FSA has already disbursed. Future SDRP payments will also use the 70% factor. "By extending the program deadline and making available this additional payment, we are continuing to put farmers first during this difficult farm economy," said Secretary Brooke Rollins, USDA. "To help secure the economic viability of disaster-impacted farmers, we're taking deliberate steps to provide stronger, more meaningful financial support for our nation's agricultural producers." Congress mandated $17.9 billion in supplemental disaster assistance under the American Relief Act, 2025; eligible disaster events include floods, derechos, tornadoes, excessive moisture, and qualifying drought rated D2 for eight consecutive weeks or worse.
More This Week
📋 Supreme Court hears Monsanto v. Durnell on FIFRA preemption. — LINK
Monsanto is asking the Supreme Court to rule that state failure-to-warn claims like John Durnell's $1.25 million Roundup verdict are preempted by FIFRA; the case follows a $7.25 billion settlement announced in February covering current and future non-Hodgkin lymphoma claims.
"It really puts a risk on the availability of not just glyphosate moving forward, but really all products," said Elizabeth Burns-Thompson, executive director of the Modern Ag Alliance.
The Justice Department has filed briefs siding with Monsanto; a ruling could extend beyond glyphosate to other pesticides, and the House Republican farm bill draft contains language to similarly shield pesticide registrants from state-law claims.
🚢 Barge grain shipments jump 43% week-over-week. — LINK
For the week ending April 18, barged grain totaled 719,627 tons — up 43% from the prior week and 53% above the same week last year — with 475 barges moving downriver, 173 more than the previous week.
"Grain movement stayed active, with barges showing the strongest weekly gain while rail and ocean signals remained mixed," wrote Tony St. James, RFD News Markets Specialist.
Class I railroads originated 28,523 grain carloads for the week ending April 11, down 7% from the prior week but 15% above the three-year average; Gulf-to-Japan ocean freight rose to $67.25 per metric ton.
🌱 USDA terminates 49 of 50 beginning farmer projects. — LINK
USDA sent termination notices for 49 of 50 projects under the $300 million Increasing Land, Capital, and Market Access program, citing DEI discrimination and "wasteful spending"; proposed projects under the program had totaled more than $2.5 billion.
"The number one reason young farmers are leaving agriculture is because of land access issues," said Amanda Koehler, manager of the Land, Capital and Market Access Network. "The termination of this program is incredibly shortsighted, especially because there has not been an alternative proposed."
Koehler noted large-scale, productive farms can easily require a $2 million investment, not including a home or equipment; the program launched in 2023 and was meant to assist under-served farmers, ranchers and forest landowners.
🌧️ Severe storm outbreak threatens Corn Belt during early planting window. — LINK
The NOAA Storm Prediction Center has placed 45% of Illinois under an enhanced severe weather risk Monday, with supercells capable of strong tornadoes and very large hail expected from southeastern Iowa through central and southern Illinois into east-central Missouri between 2–10 p.m.
"Widespread strong to severe thunderstorm development appears probable across the middle Mississippi into lower Ohio and Tennessee Valleys Monday afternoon and evening," the Storm Prediction Center said. "At least initially, this may include several evolving supercells potentially capable of producing strong tornadoes."
The outbreak hits during the early planting window, with corn 11% planted and soybeans 12% planted nationally as of April 19; storms are expected to congeal into linear segments with damaging winds as the system tracks southeast.
Basis Watch
Old-crop corn basis strengthened across the western Corn Belt Friday, with Colorado East posting the largest move at 15 cents, reaching -40¢ at the upper end. Missouri Northeast and Iowa North Central added 8 and 5 cents respectively. Indiana Southwest stood out with positive basis at +8¢, unchanged from Thursday's session. Most other major locations added 1–5 cents, with Northwest Missouri and Southeast Missouri each up 5 cents despite wide bid ranges.
Friday also saw old-crop soybean basis firm in the Upper Midwest. Minnesota Northeast gained 8 cents to -90¢ on the high side, while Iowa Northeast added 7 cents to -55¢. Illinois Wabash improved 6 cents to -15¢. Missouri Southeast and Iowa Southeast each added 4–5 cents. Iowa North Central was flat to up 2 cents across its range.
Source: USDA AMS Reports
$39.1 billion — the total economic support USDA reports it has delivered to farmers and ranchers, including $6.7 billion already disbursed through SDRP and $9.3 billion through the Emergency Commodity Assistance Program.
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