3 Big Things Today, March 28, 2025

1. Grains, Soybeans Lower in Overnight Trading

Grain and soybean futures were all lower in overnight trading amid disappointing export sales and calls for favorable weather in U.S. wheat growing areas. 

Export sales of wheat fell to 100,300 metric tons in the week that ended on March 20, the U.S. Department of Agriculture said in a report late yesterday. That’s down 65% from the prior four-week average. 

Japan bought 72,000 metric tons from U.S. inventories, Nigeria purchased 53,400 tons, and the Philippines bought 29,800 tons, the agency said. 

Corn sales dropped 31% week over week to 1.04 million metric tons. 

Japan was again the big buyer at 415,300 tons, Mexico was in for 309,900 tons, and Colombia purchased 212,900 tons. 

Soybean sales to overseas buyers last week totaled 338,500 tons, down 4% from the previous week and 28% from the prior four-week average, USDA said. 

Mexico purchased 260,900 tons of U.S. beans, China was in for 202,300 tons, and Japan bought 86,200 tons. 

Also weighing on prices overnight are forecasts for needed rainfall in parts of the eastern Midwest where soft red winter wheat is growing. 

Precipitation is expected in parts of eastern Oklahoma and northern Arkansas from today through next Thursday, the National Weather Service said in a report early this morning. 

“Showers and isolated thunderstorms will increase across southeast Oklahoma today with lesser coverage of showers further north and east,” NWS said.

Wheat futures for May delivery dropped 7½¢ to $5.24½ a bushel overnight on the Chicago Board of Trade, while Kansas City futures lost 11¾¢ to $5.54½ a bushel. 

Corn futures fell 4¢ to $4.46 a bushel. 

Soybeans for May delivery were down 4¢ to $10.12¾ a bushel. Soymeal lost $2 to $292.50 a short ton, and soy oil fell 0.11¢ to 44.16¢ a pound.

2. Hog, Pig Stocks on March 1 Down Slightly

Hog and pig inventories at the start of the month declined narrowly on both an annual and quarterly basis, according to a report from the Ag Department. 

The U.S. herd on March 1 totaled 74.5 million head, down from 74.7 million on the same date a year earlier and 1% from Dec. 1, the agency said. 

Breeding inventory fell 1% year over year to 5.98 million head, which was also down narrowly from the previous quarter. 

Market hogs on March 1 totaled 68.5 million head, also down slightly from a year earlier and 1% on quarterly, USDA said. 

The pig crop from December through February totaled 33.7 million head, down from 33.8 million head during the same period the previous year. Farrowing sows during the same timeframe totaled 2.89 million head, down 1%. 

U.S. hog producers will likely have 2.91 million sows farrow from March to May, down slightly year over year, and intended farrowings for the June–August quarter is forecast at 2.96 million sows, which if realized would be down 1% on an annual basis, USDA said in its report. 

3. Dry Weather Expected in Nebraska, Western Iowa

Red-flag warnings have been issued for much of Nebraska and some areas in other states, according to National Weather Service maps. 

In eastern Nebraska and counties in western Iowa, winds will be sustained this afternoon from 20–30 mph and gust up to 40 mph, the agency said. 

Relative humidity will fall to around 25%. 

In west-central Nebraska, winds will gust up to 35 mph and humidity will drop to 12%, NWS said. 

Further east in central Illinois, intense winds gusting 35–40 mph are forecast for today, the agency said. A storm system will move into the area on Sunday, bringing potentially dangerous weather to the area. 

“All severe hazards will be possible including damaging wind gusts, large hail and tornadoes,” NWS said.