3 Big Things Today, April 22, 2025

1. Soybean Futures Gain in Overnight Trading

Soybeans were higher overnight on some technical buying and unfavorable weather in Argentina. 

Investors turned bullish on soybean futures in the week through April 15, according to data from the Commodity Futures Trading Commission. 

Speculators held a net long position, or bets on higher prices, of 43,348 futures contracts, a shift from a net short position, or bets on lower prices, the previous week, the agency said. 

Bargain hunters may be seeking soybeans or those who were short the market may have bought back contracts and liquidated their positions. 

Also giving prices a bump this morning is adverse weather in Argentina. 

Dry weather in the South American nation may hinder late fill for about 40% of Argentina’s double-cropped soybeans, Commodity Weather Group said in a note to clients. 

That same dry weather, however, will aid the country’s corn harvest, the forecaster said. 

Eight percent of U.S. soybeans were planted as of Sunday, up from 2% a week earlier and the prior five-year average of 5%, the Department of Agriculture said in a report yesterday. 

About 12% of the corn crop was in the ground, up from 4% the week prior and the average of 10%, the agency said. Two percent had emerged as of the start of the week. 

Some 17% of U.S. spring wheat was planted, up from 7% the previous week and the average of 12% for this time of year, and 2% had emerged. 

The winter wheat crop continues to grow with 15% now headed, USDA said. That’s up from 8% last week and the 13% average. 

About 45% of the crop was in good or excellent condition as of Sunday, down from 47% a week earlier and 50% at this point last year, the government said. 

Soybean futures added 7½¢ to $10.49 a bushel overnight on the Chicago Board of Trade. Soymeal gained $1.40 to $301.70 a short ton, and soy oil jumped 0.48¢ to 48.79¢ a pound.

Corn futures for July delivery rose ¼¢ to $4.90¼ a bushel.

Wheat futures were unchanged at $5.52¼ a bushel, while Kansas City futures added 3¢ to $5.66¾ a bushel. 

2. Egg Production Plunges 7% Year-Over-Year in March

Egg production in March dropped year-over-year as the average number of layers plunged, according to data from the Ag Department. 

Output in the U.S. last month fell 7% to 8.63 billion eggs, the agency said. 

Production included 7.35 billion table eggs and 1.28 billion hatching eggs, of which 1.18 billion were broilers and 104 million were egg-types. 

Egg-layers were down 8% to 351 million on April 1, USDA said. 

That included 287 million layers that were producing table or market eggs, 60.4 million laying broiler-type hatching eggs and 4 million producing egg-type hatching eggs. 

Hatchings in March included 60.7 million egg-type chicks, an 11% increase, while eggs in incubators on April 1 jumped 16% to 61.3 million, the government said. 

Still, domestic placements of egg-type pullet chicks to supply hatcheries by leading breeders were reported at 197,000 in March, down 1% on an annual basis, USDA said in its report. 

3. Storms Expected in Parts of Illinois, Iowa

Thunderstorms are likely this afternoon in parts of central and western Illinois, the National Weather Service said in a report early this morning. 

Some of the storms may be strong or severe, though briefly, as damaging winds and hail are in the forecast, the agency said. 

The storms will refire on Thursday and last into Friday in the region. 

In central Iowa, large hail, damaging winds, and rainfall are in the forecast for today and tonight, and will linger through at least Thursday, the agency said. 

Further north, dry weather is expected in parts of Minnesota and west-central Wisconsin this afternoon and evening. 

“Breezy west winds and low relative humidities will create elevated fire-weather conditions today,” NWS said.