3 Big Things Today, Aug. 22, 2025

1. Wheat Futures Down Narrowly Overnight

Wheat futures were modestly lower in overnight trading after a government report indicated signs of weak demand for U.S. supplies. 

Sales of U.S. wheat to overseas buyers dropped 28% to 519,800 metric tons, the Department of Agriculture said in a report. That’s also down 25% from the prior four-week average. 

Mexico bought 119,500 tons, South Korea was in for 90,500 tons, an unnamed buyer took 80,400 tons, Thailand purchased 66,000 tons and South Africa bought 51,600 tons. Exports for the week, however, rose 6% to 360,600 tons. 

Still, losses were mitigated as USDA data showed accumulated exports of U.S. wheat since the start of the grain’s marketing year on June 1 were up 7% year over year to 4.62 million metric tons. 

Corn and soybeans were little changed overnight after the U.S. Drought Monitor said conditions worsened in some areas but were overly still very favorable. 

About 3.4% of an 11-state region that includes Iowa and Illinois, the biggest producers of both crops in the U.S., was suffering from drought as of Aug. 19, the monitor said in a weekly report. 

That’s up from just under 2% a week earlier, but down from 32% at the beginning of the calendar year. 

Sales of corn for export for the 2025/2026 marketing year that starts on Sept. 1 were robust at 2.86 million metric tons. That’s up from 2.05 million tons a week earlier. 

Soybean sales totaled 1.14 million tons, up narrowly from the 1.13 million tons sold the previous week, USDA said. 

The ProFarmer Crop Tour estimated corn yields in Minnesota at 202.86 bushels an acre, up 23% year over year. Iowa corn yields were pegged at 198.43 bushels an acre, a 2.9% increase. 

Soybean pod counts in Minnesota were forecast at 1.247.86 in a 3×3-foot square, a 20% jump, and Iowa pod counts were up 5.5% annually to 1,384.38 pods, tour data show, according to several media reports. 

Wheat for September delivery fell 3¢ to $5.26¾ a bushel overnight on the Chicago Board of Trade, while Kansas City futures were down 2¼¢ to $5.23¾ a bushel. 

Corn futures for December delivery fell ¾¢ to $4.11 a bushel. 

Soybean futures for November delivery gained ¾¢ to $10.56¾ a bushel. Soymeal was down 40¢ to $293.80 a short ton and soybean oil lost 0.02¢ to 53.85¢ a pound.

2. Commercial Meat Production Down Year-Over-Year

Red meat production in the U.S. fell year over year on steady declines in beef and pork output, the USDA said in a monthly report. 

Commercial meat output totaled 4.36 billion pounds in July, down 4% from the same month a year earlier, the agency said. 

Beef production was down 4% to 2.18 billion pounds.

About 2.54 million head of cattle were slaughtered last month, a 7% drop from July 2024, USDA said. Live weights, however, were up 30 pounds to 1,410 pounds. 

Pork production also feel 4%, dropping to 2.16 billion pounds, the government said. 

Hog slaughter was reported at 10.3 million head, a 4% year-over-year decline, as average weights were down a pound to 282 pounds, USDA said. 

Veal production plunged 37% on an annual basis to 2.1 million pounds, and lamb and mutton output lost 2% to 11.1 million pounds. 

Commercial red meat production in the first seven months of the year was down 2% year over year to 31.1 billion pounds. Beef output from January through July fell 3% and pork production was down 1%, the agency said in its report. 

3. Strong Winds, Showers Expected in North Dakota

Strong winds and showers are expected this morning in parts of eastern North Dakota and western Minnesota, National Weather Service maps show. 

Storms are expected throughout the morning with lightning and heavy rain being the main concerns, the agency said. 

Wind advisories have been issued as gusts of up to 40 mph are forecast for the region. 

In eastern South Dakota, meanwhile, flooding due to excessive precipitation is likely throughout the morning. More storms are expected to rumble through the area, potentially leading to flash floods. 

“Excessive runoff may result in flooding of rivers, creeks, streams, and other low-lying and flood-prone locations,” NWS said.