3 Big Things Today, July 30, 2025

1. Soybeans, Grains Little Changed on Mixed Weather

Soybean and grain futures were little changed in overnight trading on mixed weather in varying parts of the U.S. 

Rainfall is expected in much of Iowa today into tomorrow with some counties in the center of the state potentially seeing severe conditions, National Weather Service maps show. 

Rain is also expected in western and northern Nebraska, and areas of northern Kansas. 

Still, extremely hot weather is forecast to continue through at least this afternoon with heat indexes reaching 108 to 110 degrees in southern Missouri and Illinois, the agency said. 

Those working outside in the heat are advised to know the signs of heat-related illnesses and reschedule strenuous activities if possible. 

Still, the U.S. Drought Monitor shows conditions are mostly favorable in much of the Corn Belt. 

About 31% of a six-state region that includes North Dakota, South Dakota and Nebraska was suffering from drought last week, down from 63% three months earlier, the monitor said. 

Only 11% of a nine-state area that includes Iowa and Illinois, the biggest producers of corn and soybeans, were under drought conditions, down from 19% a week earlier and 34% three months ago. 

Soybean futures for November delivery rose 1/4¢ to $10.09 3/4 a bushel overnight on the Chicago Board of Trade. Soymeal was up $1.10 to $277.60 a short ton and soybean oil fell 0.47¢ to 56.31¢ a pound.

Corn futures for December delivery added 1/4¢ to $4.11 1/4 a bushel. 

Wheat for September delivery lost 1 1/4¢ to $5.28 1/2 a bushel, while Kansas City futures were unchanged at $5.18 1/2 a bushel. 

2. Union Pacific’s Acquisition of Norfolk Southern to Create Rail Giant

Union Pacific said yesterday it will acquire Norfolk Southern in a stock-and-cash deal that will create the first transcontinental railroad in the U.S. valued at more than $250 billion.

The railroad giants, once merged, will have about 50,000 miles in routes in 43 states with access to about 100 ports in North America, the companies said in a statement. 

Union Pacific will purchase Norfolk Southern for $320 per share, a 25% premium to the company’s 30-day average price on July 16. That puts an $85 billion value on Norfolk Southern. 

Analysts at RBC Capital Markets said the deal is an “unparallelled opportunity of significant size and scale” to create the first transcontinental rail company that has a path to revenue growth and operational synergies. 

The companies will file an application with the Surface Transportation Board within six months with an early-2027 target for finalization of the merger, RBC analysts said. 

“By connecting approximately 100 ports and 10 international gateways, the proposed merger would improve rail options in areas where it has been less accessible as well as increase reliability and asset utilization by eliminating interchanges,” RBC said. “Additionally, the expanded network provides opportunities to reach broader international markets, improving connections to global trade hubs, in our view.” 

3. Severe Thunderstorm, Flood Watches Issued in Iowa

Severe thunderstorm and flood watches have been issued for much of central and eastern Iowa as storms rumble through the area, according to the National Weather Service.

Showers and thunderstorms are forecast for the region throughout the day, the agency said. 

“Isolated strong storms are possible with gusty winds and heavy rainfall the main threats,” NWS said. Winds may gust up to 55 mph. 

Extreme heat warnings remain in effect in parts of several states including Missouri, Illinois, Indiana and Arkansas, while heat advisories have been issued for surrounding states, weather maps show. 

Heat indexes in southern Illinois will reach as high as 110 degrees Fahrenheit this afternoon, the agency said.