3 Big Things Today, April 29, 2025

1. Soybeans, Corn Lower in Overnight Trading

Soybean and corn futures were lower overnight as planting in the U.S. rolls on despite wet weather in parts of the Midwest. 

About 24% of the U.S. corn crop was planted as of Sunday, the Department of Agriculture said in a report. That’s up from 12% a week earlier and ahead of the prior five-year average of 22%. 

Five percent had emerged versus 2% the previous week and the average of 4%. 

Some 18% of soybeans were in the ground at the start of the week, jumping from 8% the week prior and ahead of the average for this time of year of 12%, the government said. 

Thirty percent of the spring wheat crop was sown, up from 17% a week earlier and the 21% average, USDA said. Five percent had emerged, on par with the average but up from 2% last week. 

Winter wheat conditions surged week over week as rainfall aided growing hard-red crops in the southern Plains. 

About 49% of the U.S. winter crop was in good or excellent condition as of Sunday, up from 45% a week earlier and unchanged from the same week a year earlier, the agency said. 

In Kansas, the biggest producer of winter wheat, 47% earned top ratings, a jump from 41% the previous week, and 44% of Oklahoma wheat was good or excellent, up from 39% last week. 

Twenty-seven percent of the winter crop was headed as of Sunday, up from 15% the week prior and the average of 22% for this time of year, UDSA said. 

Soybean futures fell 3¢ to $10.59 1/2 a bushel overnight on the Chicago Board of Trade. Soymeal was down 30¢ to $295.60 a short ton, and soy oil lost 0.47¢ to 49.99¢ a pound.

Corn futures for July delivery dropped 2 1/2¢ to $4.80 3/4 a bushel.

Wheat futures rose 4¢ to $5.35 a bushel, while Kansas City futures added 1 3/4¢ to $5.41 1/2 a bushel. 

2. Inspections of U.S. Wheat For Export Surge

Export inspections of U.S. wheat rose while corn and bean assessments declined.

Wheat assessments jumped to 646,564 metric tons from 510,250 tons a week earlier and 502,769 tons during the same week last year, the Ag Department said in a report.

Corn inspections, meanwhile, fell to 1.65 million metric tons in the seven days that ended on April 24, the agency said. That’s down from 1.73 million tons the week prior, but still well ahead of the 1.3 million tons assessed during the same week a year earlier. 

Examinations of soybeans for offshore delivery declined to 439,341 metric tons from 559,813 tons the previous week, USDA said. The total was higher than the 276,092 tons inspected at this point last year. 

Since the start of the marketing year on Sept. 1, USDA has inspected 40.9 million metric tons of corn for export, up from 31.7 million tons during the same timeframe a year earlier. 

Soybean inspections since the beginning of September now stand at 43.1 million metric tons, up from 38.7 million at this point in 2024. 

Wheat assessments since the start of the grain’s marketing year on June 1 were reported at 19.5 million metric tons, up from the 16.9 million that were inspected during the same period last year, USDA said in its report. 

3. Severe Storms Slamming Northern Oklahoma

A severe thunderstorm warning is in effect for much of northern Oklahoma that’s led to flooding this morning, according to the National Weather Service.

Half-dollar sized hail is forecast with the storms along with winds gusting up to 60 mph, the agency said. Hail damage to vehicles and wind damage to roofs, siding and trees are projected. 

Flooding is occurring and more precipitation is on the way in the area this morning as another 2 inches off rain on top of what’s already fallen is expected. 

Severe thunderstorm and flood watches will remain in effect throughout the morning. 

Showers are forecast for today in parts of northern Missouri and Kansas counties along the border between the states, NWS said. 

More storms are expected in the area tomorrow, the agency said.