Thursday April 30 Ag News - Ag Land Mgt Webinar May 11 - New Series on Land Values - Fertilizer Price Updates - NRCS on Ag Land Easement Opportunities - Seeking a New DMI CEO - and more!

Ag land management webinar to offer the latest on cash rents, changing commodity prices

The latest trends in 2026 Nebraska cash rental rates and land values will be covered during the next Land Management Quarterly webinar, hosted by the University of Nebraska-Lincoln’s Center for Agricultural Profitability, at noon Central time on May 11.

Each quarter, the webinars address common management issues for Nebraska landowners, agricultural operators and related stakeholders interested in the latest insights on real estate trends, managing agricultural land and solutions to address challenges in the upcoming growing season.

The May webinar will examine the latest average cash rental rates in the state, as reported in the recently released Nebraska Farm Real Estate Report, and offer insight on adjusting rental rates considering current commodity prices this year. It will also cover best practices for communication among landlords, tenants, and family members, and offer advice on short- and long-term decision-making for agricultural land.

Viewers will have the opportunity to submit land management questions for the presenters to answer during the presentation.

The webinar will be led by Jim Jansen and Anastasia Meyer, both in the Department of Agricultural Economics. Jansen focuses on agricultural finance, land economics, and the direction of the annual Nebraska Farm Real Estate Market Survey and Report. Meyer is an agricultural economist focusing on rental negotiations and leasing arrangements. 

The webinar is free and will be recorded. Past recordings can be viewed the day after each session, as well as recordings from the entire series. 

Registration is free at https://cap.unl.edu/landmanagement.



New Series Offers Insight into How Farmland Values are Determined

A new three-part educational series from Ag Decision Maker assists landowners, producers, lenders and investors in better understanding what drives farmland values across Iowa and the Midwest. 

The series, authored by Rabail Chandio, extension economist at Iowa State University, and Emily Oberbroeckling, certified general real property appraiser at People's Company, offers practical insight into the three primary appraisal approaches: income, cost and sales comparison. 

“Understanding how these approaches work helps landowners, producers, lenders and investors interpret farmland markets more clearly,” the authors explained. “While individual sales provide snapshots of market activity, appraisal methods help explain the broader economic forces that shape land values.”

The income approach: earnings and land value
The first article in the series focuses on the income approach, which links farmland value to its ability to generate revenue over time. 

According to the authors, the approach helps explain why land sells for a given price by evaluating expected earnings from cash rent, crop production or appreciation, and comparing those returns to alternative investments. Factors such as interest rates, grain prices, crop insurance guarantees and investor demand all influence these expectations.

“The income approach remains one of the most useful tools for interpreting farmland values because it directly connects price to earning power, risk and long-term economic expectations,” the authors noted. “However, it also has limitations. The approach is sensitive to small adjustments in discount rates or rental assumptions, and its accuracy depends on reliable, localized data.”

The cost approach: investment and land value
The second article examines the cost approach, which addresses what it would cost to recreate a property today, separating the value of the land from the value of improvements, and measuring how construction costs and depreciation affect the overall market value.

“The Cost Approach is based on the premise that a typical buyer will not pay more for a property than the cost to acquire comparable land and construct improvements that provide the same utility,” the authors said. “This approach is applicable to highly improved agricultural, rural and commercial properties because many buildings, such as barns, grain storage, livestock facilities and machine sheds, are specialized for a specific use and are not often sold.”

The sales comparison approach: market evidence matters
The final article highlights the sales comparison approach, which is the most widely recognized and market-driven valuation method. It estimates value by analyzing recent sales of similar properties.

“Appraisers apply this method by analyzing recent comparable sales and applying market-derived adjustments for relevant factors, which can sometimes be derived from these and other sales,” the authors noted. “Physical characteristics typically used for comparison include legal and physical access, annual precipitation or water rights, property or field shape, topography, utilities, zoning, soil characteristics or ratings (CSR2 in Iowa), crop yield history, ease of farm-to-market access and flood zones.”

According to the authors, this method is particularly effective in active farmland markets like Iowa, where sufficient sales data exist. 

While each approach offers a distinct perspective, together they provide a more complete understanding of farmland markets. Landowners, producers, lenders and investors are encouraged to review the articles for further information, including method applications, examples and strengths and limitations.

Additionally, the upcoming Soil Management and Land Valuation Conference https://smlv.card.iastate.edu/ on May 20 is another opportunity to discover more about Iowa’s land market. 



Weekly Ethanol Production for 4/24/2026

According to EIA data analyzed by the Renewable Fuels Association for the week ending April 24, ethanol production slowed by 3.0% to 1.01 million b/d, equivalent to 42.38 million gallons daily and the lowest weekly level since January. Output was 3.0% lower than the same week last year but 0.8% above the three-year average for the week. The four-week average ethanol production rate decreased 1.6% to 1.07 million b/d, equivalent to an annualized rate of 16.46 billion gallons (bg).

Ethanol stocks drew down 4.0% to a 7-week low of 25.9 million barrels. Yet. stocks were 1.9% more than the same week last year and 4.6% above the three-year average. Inventories thinned across all regions.

The volume of gasoline supplied to the U.S. market, a measure of implied demand, ticked up 0.5% to a 7-week high of 9.10 million b/d (139.95 bg annualized). Demand was 0.1% more than a year ago and 3.7% above the three-year average.

Refiner/blender net inputs of ethanol declined 0.4% to 917,000 b/d, equivalent to 14.10 bg annualized. Still, net inputs were 1.0% more than year-ago levels and 0.8% above the three-year average.

Ethanol exports expanded 86.8% to an estimated 170,000 b/d (7.1 million gallons/day). It has been more than two years since EIA indicated ethanol was imported.



10-34-0 Leads Fertilizer Prices Higher

According to fertilizer retailers tracked by DTN for the third full week of April 2026, prices continue to be considerably more expensive compared to last month. Once again, all eight major fertilizers are higher than a month ago. Six of the eight major fertilizers had substantial price increases compared to the prior month. DTN designates a significant move as anything 5% or more.

Surprisingly, 10-34-0 led the way higher as the nutrient was 17% higher compared to last month. The starter fertilizer had an average price of $722/ton. UAN28 was 9% higher looking back to the prior month with an average price of $526/ton. Anhydrous was 8% more expensive than last month and had an average price of $1,116/ton. UAN32 was 7% higher compared to last month with an average price of $595/ton. Both DAP and urea were 5% more expensive with an average price for DAP at $901/ton and urea at $866/ton. Two fertilizers were just slightly more expensive compared to last month. MAP had an average price of $939/ton and potash was $492/ton.

On a price per pound of nitrogen basis, the average urea price was $0.94/lb.N, anhydrous $0.68/lb.N, UAN28 $0.94/lb.N and UAN32 $0.93/lb.N.

All eight fertilizers are now higher in price compared to one year earlier. In addition, all but one are now double digits more expensive. Potash is 5% higher, 10-34-0 is 10% more expensive, MAP is 14% higher, DAP is 15% more expensive, UAN32 is 33% higher, UAN28 is 38% more expensive, anhydrous is 43% higher and urea is now 50% more expensive looking back to last year.



Members of Congress Seek Removal of Phosphate Duties

A bill that would remove countervailing duties from phosphate fertilizer imports from Morocco was introduced Wednesday in the U.S. Senate and the U.S. House of Representatives.  
 
Sen. Marshall (R-Kan.) sponsored the legislation, entitled the Lowering Input Costs for American Farmers Act, and it is co-sponsored by Sens. Chuck Grassley (R-Iowa), Cindy Hyde-Smith (R-Miss.) and Joni Ernst (R-Iowa) with Congresswoman Mariannette Miller-Meeks (R-Iowa) and Ashley Hinson (R-Iowa) sponsoring the legislation in the House.
 
“Corn farmers have been consistently vocal about the negative impact of duties on imported fertilizers,” said Ohio farmer and National Corn Growers Association President Jed Bower. “We applaud these members of Congress – long-time farmer allies – for taking action to address one of the issues that is causing a hike in fertilizer costs.”
 
Phosphate fertilizer is an essential input for modern crop production, used predominantly for growing corn, soybeans, cotton, and other agricultural commodities. In the last five years, corn farmers have paid record and near-record highs to purchase phosphate following government action that cut off imported supplies.  
 
In 2020, the Commerce Department, acting on a petition filed by Mosaic Company, imposed duties on phosphate fertilizers imported from Morocco and Russia. Mosaic claimed at the time that unfairly subsidized foreign companies were flooding the U.S. market with fertilizers and selling the products at extremely low prices. The petition was supported by J.R. Simplot.  

Corn growers have been critical of the process used to determine the duties, which led to inaccurate calculations. Further, the outsized impact of restricting phosphate imports has negatively affected farmers across the United States. This year, the duties are being examined under a sunset review process that will determine if the duties should continue.
 
The duties have had major effects on the phosphate fertilizer market. At least one Moroccan company halted shipments of phosphate fertilizers into the U.S., which led to price hikes and shortages, saddling farmers with a hardship that has only worsened in recent weeks with the conflict in the Middle East.



NGFA applauds House agriculture appropriations bill supporting U.S. grain and feed sector

The National Grain and Feed Association (NGFA) today applauded the House Appropriations Committee for advancing the fiscal year 2027 agriculture appropriations bill.

The legislation includes several key NGFA provisions that strengthen the reliability, transparency, and global competitiveness of the U.S. grain and feed industry:

    Providing for the U.S. Department of Agriculture (USDA) to develop and implement a contingency plan to ensure continuity of official grain inspection and weighing services in the event of future disruptions. NGFA strongly supports this directive, which emphasizes clear operational guidance and stakeholder engagement, including input from export elevators and Officially Designated and Delegated Agencies.

    Encouraging improved coordination between USDA’s Federal Grain Inspection Service (FGIS) and the Food and Drug Administration (FDA) to expedite approvals for grain reconditioning plans, enhancing efficiency at export facilities when grain lots require corrective action.

    Underscoring the importance of maintaining uninterrupted grain terminal operations as critical to U.S. grain exports.

    Reinforcing the importance of consistent, reliable data by directing USDA’s National Agricultural Statistics Service (NASS) to maintain key reports and surveys and to provide advance notice to Congress before making significant changes to its data collection programs.

    Recognizing the importance of the Center for Veterinary Medicine (CVM) at the FDA to the nation’s food supply, by ensuring its operations are properly resourced.

“NGFA commends the House Appropriations Committee for advancing an agriculture appropriations bill that addresses several top priorities for the grain and feed industry,” said NGFA President and CEO Mike Seyfert. “From safeguarding the continuity of export inspection services to maximizing coordination across federal agencies and preserving essential market data, these provisions help ensure that U.S. agriculture remains competitive, reliable, and resilient in the global marketplace.”

NGFA looks forward to continuing to work with the House of Representatives and the Senate as this process continues.



NRCS Announces Second Application Sign-ups for Agricultural Land Easements 

The U.S. Department of Agriculture (USDA) is establishing a second national deadline for agricultural producers and landowners to apply for fiscal year 2026 assistance in the Agricultural Conservation Easement Program (ACEP) through the Natural Resources Conservation Service (NRCS). The new deadline for entities to apply is May 29, 2026. NRCS is providing up to $200 million in funding for the application period for agricultural land easements. 

“At NRCS, we are putting Farmers First by actively working to preserve and protect America’s agricultural land for future generations,” said NRCS Chief Aubrey J.D. Bettencourt. “Through voluntary conservation easements, and strategic partnerships, we are committed to slowing the loss of productive farmland and keeping working lands in the hands of farmers and ranchers.” 

The One Big Beautiful Bill Act (OBBBA), signed by President Trump on July 4, 2025, delivers the largest long-term investment in NRCS conservation programs in decades, delivering over $4 billion in ACEP funding. NRCS began implementation this year.  

While NRCS accepts applications on a continuous basis, NRCS uses application cutoff periods to assess and rank applications based on their potential conservation impact. NRCS is offering a second national application period for ACEP Agricultural Land Easements with a May 29, 2026, application deadline. A complete Agricultural Land Easement application only requires the following:  
1.     Completed form NRCS-CPA-41A, “Parcel Sheet for Entity Application for an Agricultural Land Easement (ALE) Agreement”,  
2.      Proof of ownership,  
3.      Written pending offer,  
4.      Map or geospatial boundary of proposed easement (NRCS provides an online tool to help you create this map with a geospatial boundary), and  
5.      Documented access to the easement.  

Landowners are encouraged to complete FSA-related eligibility paperwork with their local Farm Service Agency county office as soon as possible. 

Through conservation programs, NRCS provides technical and financial assistance to help producers and landowners make conservation improvements on their land that benefit natural resources, build resiliency, and contribute to the nation’s broader effort to improve natural resource conditions on America’s private lands.    

Agricultural Conservation Easement Program (ACEP) 
ACEP helps landowners, land trusts, and other entities protect, restore, and enhance wetlands; protect the agricultural viability and related conservation values of eligible land by limiting nonagricultural uses of that land that negatively affect the agriculture and conservation values; and protect grazing and related conservation values by restoring or conserving eligible land.  

Agricultural land easements provide cost-share assistance to eligible entities to acquire easements from qualifying landowners, preserving agricultural use, including grazing, and protecting associated conservation values on eligible land. 

How to Apply      
Entities and landowners interested in fiscal year 2026 funding should apply through NRCS at their local USDA Service Center. All applications must be received by May 29, 2026, to be considered in the second round of funding for fiscal year 2026. Funding is provided through a competitive process. NRCS will hold applications received after this date and consider them for subsequent rounds, as funding permits.  Interested applicants can view additional state’s ranking dates online. 

More Information 
To learn more about NRCS programs, producers can contact their local USDA Service Center.   



Dairy Management Inc. Board Launches Search for New CEO

Dairy Management Inc. (DMI) today announced the formal launch of its search for a new president and chief executive officer, following the announced planned retirement of CEO Barbara O’Brien later this year.

The DMI Board of Directors has engaged ZRG Partners, a top ten global talent advisory firm, to support a comprehensive and inclusive search process aimed at identifying a dynamic leader to guide the organization into its next chapter of growth and impact.

The search marks an important milestone in DMI’s leadership transition, which was initiated earlier this year as part of a deliberate and well-planned succession process designed to ensure continuity and long-term success for the dairy checkoff.

“We are approaching this search from a position of strength, with a clear strategy, strong momentum and a deep commitment to delivering results,” said Marilyn Hershey, a Pennsylvania dairy farmer and chair of the DMI Board of Directors. “The board is focused on identifying a leader who will build on that foundation—someone who can continue to unite the U.S. dairy community, accelerate innovation and drive relevance and growth in both domestic and global markets.”

The next CEO will be responsible for advancing DMI’s mission to increase dairy sales, drive innovation and build trust in dairy products and the farm families behind them. This includes oversight of the national dairy checkoff and its related organizations, including National Dairy Council, U.S. Dairy Export Council and Innovation Center for U.S. Dairy.

O’Brien will continue to serve as president and CEO through the completion of her term, working closely with the board and leadership team to support a seamless transition and continued execution of DMI’s strategic priorities.

DMI encourages qualified candidates and industry leaders interested in the role to direct inquiries, nominations and applications to Melissa Oszustowicz, Managing Director at ZRG at moszustowicz@zrgpartners.com.

The board expects to conduct a thorough and thoughtful search process and will provide updates as appropriate.

For more information on how the dairy checkoff is driving sales and building trust, visit www.dairycheckoff.com.



Bunge Reports First Quarter 2026 Results

Bunge Global SA (NYSE: BG) today reported first quarter 2026 results.
• Q1 GAAP diluted EPS of $0.35 vs. $1.48 in the prior year; $1.83 vs. $1.81 on an adjusted basis excluding certain gains/charges and mark-to-market timing differences
• Higher results primarily driven by Soybean and Softseed Processing and Refining, reflecting strong execution in a dynamic environment and improved market conditions
• Increasing full-year adjusted EPS outlook range to $9.00 to $9.50 from $7.50 to $8.00

Overview
Greg Heckman, Bunge’s Chief Executive Officer said, "The Bunge team delivered a strong first quarter, executing with the discipline and speed that define this organization, while navigating one of the more rapidly changing market environments in recent years. Amid geopolitical uncertainty and shifting trade flows, our global platform performed as designed, enabling us to capture opportunities, manage risks, and connect farmers to consumers with the products, services, and solutions they need as they face increasing complexity.

Looking ahead, visibility remains limited given ongoing macroeconomic conditions. However, our balanced footprint and diversified value chains position us to adapt. The long-term fundamentals underpinning demand for our products and services remain strong, and we are well equipped to continue serving customers at both ends of the value chain while delivering for all our stakeholders."