3 Big Things Today, March 13, 2025

1. Soybeans, Grains Higher in Overnight Trading 

Soybean and grain futures were higher on technical buying and reduced forecasts for global inventories. 

Investors who were short the market, or had bet on lower prices, likely bought back contracts and booked profits after prices declined this week. 

Also boosting prices overnight are concerns about declining world stocks.

Global stockpiles are forecast at 121.4 million metric tons, the U.S. Department of Agriculture said in a report this week. That’s down from the February outlook for 124.3 million metric tons. 

Larger crush rates will lead to lower ending stocks, the agency said. 

Still, projected stocks are well above the 112.6 million tons that were in storage at the end of the 2023/2024 marketing year. 

Corn inventories at the end of the current marketing year on Aug. 31 are now pegged at 288.9 million metric tons, below the previous forecast for 290.3 million metric tons, USDA said. 

That’s down from 314 million metric tons at the end of the previous marketing year. 

Soybeans for May delivery jumped 9¢ to $10.09½ a bushel overnight on the Chicago Board of Trade. Soymeal was up $4.70 to $304.90 a short ton, and soy oil gained 0.22¢ to 41.9¢ a pound.

Corn futures added 4¼¢ to $4.65 a bushel. 

Wheat futures for May delivery rose 5¼¢ to $5.59¼ a bushel, while Kansas City futures surged 8¼¢ to $5.81¼ a bushel. 

2. Ethanol Production Falls to Six-Week Low

Ethanol output dropped to the lowest level in six weeks while inventories increased, according to a report from the Energy Information Administration.

Production of the biofuel fell to an average of 1.062 million barrels a day in the week that ended on March 7, the agency said. 

That’s down from 1.093 million barrels a day, on average, the previous week and the lowest output since the seven days that ended on Jan. 24. 

In the Midwest, by far the biggest producing region, production plunged to an average of 1.008 million barrels a day from 1.04 million the week prior, EIA said. That’s also the lowest since late January. 

East Coast output fell to 11,000 barrels a day from 12,000 barrels a week earlier. 

That was the entirety of the losses as Rocky Mountain production was unchanged week to week at 11,000 barrels per day, the government said. 

Gulf Coast production was up to 23,000 barrels a day from 21,000 barrels the week prior, and West Coast output rose to 10,000 barrels a day from 8,000 barrels, EIA said.

Ethanol inventories rose to 27.376 million barrels in the week through March 7. That’s up narrowly from 27.289 million barrels a week earlier, the agency said in its report. 

3. Red Flag Warnings Issued From South Dakota to Texas

Red-flag warnings have been issued for a large chunk of land stretching from northern South Dakota into East Texas, according to National Weather Service maps. 

Winds in central South Dakota will range from 15–20 mph and gust up to 30 mph, the agency said. Relative humidity will fall as low as 20%. 

In the Oklahoma and Texas panhandles, winds will be sustained from 30–40 mph with gusts of up to 70 mph in the forecast, NWS said. 

Humidity in the area will fall to around 13%. 

Winds in eastern Kansas and western Missouri will be sustained from 25–35 mph and gust up to 60 mph, the agency said. 

“Damaging winds could blow down trees and power lines,” NWS said. “Widespread power outages are possible.”