Dr. Todd Hubbs says 2025 will be remembered as a year dominated by falling prices and widespread uncertainty across crop markets. He noted that “price is falling dramatically throughout the year for most of our crops,” driven by “large supplies, both here and around the world.” Adding to the pressure was “massive amounts of trade policy uncertainty under the new administration,” including what Hubbs described as “basically another trade war with China,” along with unresolved questions surrounding biofuels policy and the Farm Bill.
Hubbs said uncertainty became the central theme of the year and is still lingering. “There really is [uncertainty],” he explained, noting that while some issues “congeal and clarify over at the end of the year,” producers are “still carrying a lot of it into 2026, too.” That continued lack of clarity has weighed heavily on markets and limited any sustained price recovery.
When it came to market performance, Hubbs said prices demanded constant attention. “I was watching price like a hawk,” he said, pointing out that “the days of $7 wheat are gone,” with wheat pushing below $5 and corn and soybean prices remaining flat to weaker. Large acreage and production numbers only added to the pressure. “We keep finding bushels of corn and wheat all over the world, and it’s just a lot of pressure on price,” he said, adding that trade uncertainty further hurt markets with “really nothing we can do about that.”
Looking ahead, Hubbs said prices are sitting near the low end of recent ranges, with cautious optimism mixed with risk. “I would like to think we’ve hit the lows in some of these and we’re going to build back up as we get into the new year,” he said, while acknowledging that outcomes hinge on South American crops, upcoming reports, and trade resolution. In that environment, he stressed preparation and planning, saying, “The first step in a marketing plan is knowing what your budget is,” and encouraging producers to use target prices and seasonal rallies as opportunities to manage risk and regain some control.
This week on SUNUP:
Amy Hagerman, OSU Extension agricultural policy specialist, discusses the recent news from the current administration regarding agricultural payments.
Rosslyn Biggs, OSU Extension beef cattle specialist, has information about the newly approved treatment for New World screwworm.
In the Mesonet Weather Report, state climatologist Gary McManus says this December will be one of the driest months on record if we do not receive rainfall soon.
In Cow-Calf Corner, Mark Johnson, OSU Extension beef cattle breeding specialist, continues his “Build Back Better” series.
Paul Beck, OSU Extension beef cattle specialist, explains what “cheap gain” is and how there’s more nuance to the topic.
Finally, SUNUP learns what makes N. Malone Mitchell Jr. a 2025 OSU Ferguson College of Agriculture Distinguished alumnus.
