3 Big Things Today, June 9, 2025

1. Soybeans, Grains Higher on Trade Talk Optimism

Soybean and grain futures were higher in overnight trading as optimism about normalized trade relations with China gave prices a boost. 

Top officials from the U.S. and China will meet in London today, June 9, in a bid to end the ongoing trade war between the countries. 

U.S. Treasury Secretary Scott Bessent is leading a delegation from Washington, while China’s contingent will be led by He Lifeng, China’s vice premier for economic policy. 

Presidents Donald Trump and Xi Jinping spoke for about 90 minutes on Thursday. 

Trump said the talks went well and that the leaders of the world’s two largest economies invited each other to their respectively countries, invitations that were both accepted. 

Soybean futures for July delivery rose 6¼¢ to $10.58 a bushel overnight on the Chicago Board of Trade. Soymeal was down $1.20 to $295.90 a short ton and soy oil futures gained 0.85¢ to 47.5¢ a pound. 

Corn futures added 2¢ to $4.41½ a bushel. 

Wheat gained 7½¢ to $5.53 a bushel, and Kansas City futures were up 3¢ to $5.45½ a bushel. 

2. Speculators Boost Bearish Bets on Corn

Investors raised their net short positions, or bets on lower prices, on corn and lowered their bullish outlook for soybeans last week, according to data from the Commodity Futures Trading Commission. 

Speculators were short 133,979 futures contracts in corn in the seven days that ended on June 3, the agency said in a report. 

That’s up from 90,149 contracts the previous week and the largest bearish position for the grain since Sept. 17. 

Money managers held a net long position, or bets on higher prices, of 34,604 futures contracts in soybeans last week, down from 60,919 the week prior, the government said. 

In wheat, hedge funds and other large investment houses were short by 94,543 soft red winter futures as of June 3, up slightly week over week form 93,855 contracts a week earlier. 

Investors held a net short position of 76,212 in hard red winter wheat, down narrowly from 76,812 futures contracts seven days earlier, CFTC said in its report. 

The weekly Commitment of Traders report from the Commodity Futures Trading Commission shows trader positions in futures markets.

The report provides positions held by commercial traders, or those using futures to hedge their physical assets; noncommercial traders, or money managers (also called large speculators); and nonreportables, or small speculators.

A net long position indicates more traders are betting on higher prices, while a net short position means more are betting futures will decline.

3. Storms Expected to Roll Through Parts of Iowa, Illinois

Isolated thunderstorms are possible in parts of central Iowa and northern Illinois today, the National Weather Service said in a report early this morning. 

The storms may turn severe for a few hours from about 1 p.m. local time, the agency said. 

“Scattered showers and thunderstorms will develop ahead of a cold front early this afternoon,” NWS said. “Some storms may become strong between 1 p.m. and 4 p.m., particularly to the east of the Fox Valley in northern Illinois.” 

Quarter-sized hail and wind gusts of up to 60 mph are expected with the storms, which will subside later in the afternoon.

In the southern Plains, meanwhile, showers and storms are expected throughout this week, the agency said. 

Chances for severe weather remain low through Wednesday, though an isolated storm can’t be ruled out, NWS said.