1. Soybean Futures Drop in Overnight Trading
Soybean futures plunged in overnight trading after China reportedly bought soybeans from Brazil, the world’s largest exporter of the oilseeds.
Buyers purchased 10 cargoes of soybeans from the South American country, Reuters reported, citing three traders familiar with the transaction.
The U.S. and China agreed last week to a deal under which the Asian nation would buy at least 12 million metric tons of U.S. soybeans in the last two months of 2025 and a minimum of 25 million tons of soybeans in each of the following three years.
Still, Brazilian soybeans are reportedly less expensive than U.S. supplies, and buyers are taking advantage, Reuters said in its report, citing a trader at a company that operates oilseed processing facilities in China.
China purchased cargoes of U.S. soybeans last week, though it’s not known exactly how many as USDA has stopped most of its weekly reports due to the ongoing government shutdown.
Soybean futures for November delivery dropped 12½¢ to $11.21¾ a bushel overnight on the Chicago Board of Trade. Soy meal was down $2.10 to $318.70 a short ton and soybean oil futures lost 0.35¢ to 49.49¢ a pound.
Corn futures for December delivery lost 3¼¢ to $4.31 a bushel.
Wheat futures for December delivery rose 1¼¢ to $5.44¾ a bushel, and Kansas City futures were down 1¼¢ to $5.30½ a bushel.
2. AGCO Expects Rough End to 2025, Flat 2026
Equipment maker AGCO said it continues to expect a rough 2025 and a flat 2026 as growth in livestock and dairy and government support will be offset by ongoing trade concerns and high borrowing and input costs, according to an equity research report from Oppenheimer.
The company reported sales of $2.476 billion in the third quarter of 2025, topping trade expectations for $2.461 billion. Adjusted earnings came in at $1.35 a share, beating forecasts for $1.22 a share.
Still, AGCO’s quarterly financials beat did little to change the negative industry sentiment, Oppenheimer analysts said.
The company’s North American ag segment is expected to be weak, though the China trade deal likely will be a net positive.
North American sales plunged 32% on an annual basis in the third quarter amid weak sales and slack demand. Falling sales of high-horsepower tractors, sprayers, and combines led the overall decline.
AGCO’s best asset heading into next year will be its European and Middle Eastern business, Oppenheimer said.
European sales jumped 20% year over year in the third quarter.
“This reflects a recovery in production levels and corresponding sales following extended plant downtime last year,” AGCO said in its earnings report on Friday. “Increases were in largest in high-horsepower and mid-range tractors.”
3. Red Flag Warnings Issued in Central Nebraska
Red flag warnings, indicators of dry weather, have been issued for several counties in central Nebraska, according to the National Weather Service.
Winds will be sustained from 15–25 mph today and gust up to 35 mph, the agency said in a report early this morning.
Relative humidity will fall as low as 13%.
“Any fires which may develop will have a high probability for rapid spread and will be difficult to control,” NWS said.
Winds in central and southern Missouri, meanwhile, are forecast to gust up to 35 mph, the agency said. Humidity will fall to around 25% this afternoon.
