3 Big Things Today, Aug. 29, 2025

1. Soybean Futures Drop in Overnight Trading

Soybean futures were lower in overnight trading on concerns about demand from China — the world’s largest importer — and amid favorable weather in the Corn Belt. 

China has yet to purchase U.S. soybeans for the upcoming year, according to data from the USDA. 

The country in 2024 purchased $12.64 billion worth of soybeans from the U.S., government data show. That’s almost six times more than the next largest buyer and just over half the total value of soybean shipments globally. 

China has effectively halted purchases of U.S. soybeans amid the ongoing trade war with the U.S. 

The American Soybean Association has urged President Donald Trump to prioritize soybeans in negotiations with Beijing. 

Low crop prices and rising input costs have U.S. farmers at a “precipice,” and a trade agreement is needed to ensure sales of U.S. beans to its largest customer, ASA said in a statement last week. 

Also pressuring prices overnight are calls for precipitation in parts of the Corn Belt. 

Widespread precipitation is expected within the next 24 hours, with potentially heavy rainfall in parts of South Dakota and Nebraska, according to National Weather Service maps. 

About 4.5% of an 11-state region that includes Iowa and Illinois, the largest producers of soybeans and corn, was suffering from drought as of Aug. 26, the U.S. Drought Monitor said in a weekly report. 

While that’s up from 3.4% a week earlier, it’s down from 32% at the start of the calendar year, the monitor said. 

Soybean futures for November delivery fell 5¢ to $10.43 a bushel. Soy meal was down 30¢ to $287 a ton, and soybean oil lost 0.49¢ to 51.94¢ a pound.

Corn futures for December delivery rose 1½¢ to $4.11½ a bushel. 

Wheat for September delivery lost 1¢ to $5.28 a bushel, while Kansas City futures dropped 1¼¢ to $5.14½ a bushel. 

2. Weekly Sales of Corn for Export Decline 

Sales of U.S. corn to overseas buyers for delivery in the 2025/2026 marketing year that starts Sept. 1 dropped week-to-week, while bean sales improved. 

Exporters sold 2.09 million metric tons of corn for export in the seven days that ended Aug. 21, the Ag Department said in a report. That’s down from 2.86 million tons a week earlier. 

Mexico was the big buyer at 620,700 metric tons, followed by an unidentified country at 515,200 tons, and Colombia at 257,000 tons. Spain bought 208,000 tons, and Vietnam was in for 143,500 tons, the agency said. 

Exports last week totaled 1.15 million tons — a 12% week-over-week increase. 

Soybean sales were reported at 1.37 million metric tons, up from 1.14 million a week earlier, the USDA said. 

An unidentified buyer took 690,000 tons, Mexico purchased 315,800 tons, Taiwan was in for 135,500 tons, the UK took 66,000 tons, and Turkey bought 64,000 tons from U.S. supplies. 

Exports of the oilseeds totaled 408,800 tons, down 21% from the week prior, the agency said. 

Wheat sales totaled 579,800 metric tons, up 12% from the previous week but down 10% from the prior four-week average. 

Vietnam bought 156,800 tons, Nigeria purchased 106,000 tons, Mexico was in for 94,200 tons, Taiwan took 90,100 tons, and Japan purchased 59,000 tons. The total would’ve been higher, but an unidentified country canceled orders for 139,600 tons. 

U.S. wheat exports for the week jumped to 1 million metric tons, the highest since the marketing year started on June 1, up noticeably from the week prior and the average for this time of year, the USDA reported. 

3. Rainfall Expected in Parts of South Dakota, Iowa

Showers are expected in parts of South Dakota and northeastern Iowa this afternoon and evening, according to the National Weather Service (NWS). 

While severe weather isn’t in the forecast, some “weak” funnel clouds may be present, the agency said. 

“Periods of scattered showers and thunderstorms will continue through the holiday weekend, with the highest chances during the afternoon and early evening each day,” NWS said.

In southern North Dakota, scattered storms are forecast throughout this afternoon into tonight, the agency said. More storms are expected in the area through tomorrow.