3 Big Things Today, July 22, 2025

1. Corn, Soybean Futures Lower in Overnight Trading

Corn and soybean futures were lower in overnight trading as rain this week is expected to give crops a boost. 

Showers this week will limit stress on corn and beans in the U.S. Midwest despite a brief round of hot weather, Commodity Weather Group said in a note to clients. 

Rainfall is expected to leave “only very spotty dryness” in parts of the Corn Belt, the forecaster said. Some excess rain is forecast for areas of the central Midwest. 

Elevated temperatures that are expected to reach triple digits in parts of several states will ease next week, CWG said. 

Rainfall in the northern Plains and Canadian Prairies will aid spring-wheat growth. 

About 74% of U.S. corn was in good or excellent condition as of Sunday, unchanged week to week, the Department of Agriculture said in a report. That’s up from 67% at the same point last year. 

Fourteen percent was in the dough stage, double the previous week and ahead of the prior five-year average of 12%. Fifty-six percent was silking versus 34% seven days earlier but behind the average of 58%. 

Some 68% of soybeans earned top ratings last week, down from 70% a week earlier and on par with where crops were at this point last year, USDA said. 

Twenty-six percent was setting pods versus 15% the week prior but on the same level as the five-year average, the agency said. 

About 62% of the crop was blooming, up from 47% a week earlier and just behind the 63% average for this time of year. 

Corn futures for December delivery dropped 5¢ to $4.17 1/4 a bushel overnight on the Chicago Board of Trade. 

Soybean futures for November delivery fell 4¢ to $10.22 a bushel. Soymeal was down 80¢ to $284 a short ton and soybean oil lost 0.49¢ to 55.33¢ a pound.

Wheat for September delivery declined 1¢ to $5.41 1/4 a bushel, while Kansas City futures rose 1¢ to $5.26 3/4 a bushel. 

2. Weekly Wheat, Bean Inspections Increase

Inspections of wheat and beans for offshore delivery rose week to week while corn assessments declined, according to data from the Ag Department. 

Wheat inspections totaled 732,290 metric tons in the seven days that ended on July 17, the agency said in a report. That’s up from 444,631 tons a week earlier. 

Examinations of soybeans for offshore delivery increased to 364,990 metric tons from 151,346 tons the week prior. 

Corn was the week’s decliner, falling to 983,625 metric tons, USDA said. That’s down from 1.31 million tons a week earlier. 

Since the start of the marketing year on Sept. 1, however, inspections of corn are up to 58.8 million metric tons versus the 45.6 million tons assessed during the same timeframe last year, the government said. 

Soybean inspections since the beginning of September are now at 46.8 million metric tons, up from 42.4 million tons at this point a year earlier. 

Examinations of wheat since the start of the grain’s marketing year on June 1 now stand at 3 million metric tons, up from 2.66 million tons during the same period the year prior, USDA said in its report. 

3. Heat Continues in Several Midwestern States

Hot weather is expected to continue from northern South Dakota through the Gulf Coast, National Weather Service maps show. 

Extreme heat warnings have been issued for parts of southeastern Missouri, southern Illinois and parts of Arkansas, while extreme heat watches are in effect in much of eastern Illinois.

Heat indexes will rise to 112 degrees in southern Missouri and eastern Arkansas this afternoon, the agency said. 

Values in eastern Illinois will be “dangerously hot” and may hit 115 degrees, NWS said. 

In central South Dakota, meanwhile, heat indexes are expected to reach into the triple digits.

Those working outside are advised to be aware of heat-related illnesses, stay hydrated and take breaks as often as possible, the agency said.