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Home » 3 Big Things Today, July 3, 2025

3 Big Things Today, July 3, 2025

July 4, 20253 Mins Read News
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1. Soybeans, Grains Higher in Overnight Trading

Soybeans and grains were higher in overnight trading amid positive crush reports from the USDA. 

About 6.11 million tons of soybeans (204 million bushels) were crushed for oil in May, the agency said in a report this week. That’s up from 6.07 million from April and a 6.3% gain from May of last year. 

Crude oil production rose 1% monthly and 7% annually to 2.42 billion pounds, while soybean-once-refined oil output was reported at 1.92 billion pounds, up 10% from April and 7% from May 2024. 

Corn used for alcohol and other uses last month totaled 501 million bushels, up 6% month over month but down 2% from May 2024, USDA said. 

Fuel use for the grain was reported at 449 million bushels, a 6% increase from April but down 1% on an annual basis.

About 92% of corn was consumed for dry milling fuel production while the remainder was used in wet million, the agency said. 

Also underpinning prices overnight were calls for dry weather in U.S. growing areas. 

The Delta region likely will see dry patches, which will allow soil moisture to decline, according to forecaster Maxar. Dryness in central areas of the Midwest may also curb crop prospects. 

Markets will be closed on Friday the Fourth of July. 

Soybean futures for November delivery rose 6¾¢ to $10.54¾ a bushel overnight on the Chicago Board of Trade. Soymeal added $3 to $293.80 a short ton and soy oil gained 0.02¢ to 55.09¢ a pound. 

Corn futures for December delivery jumped 6½¢ to $4.40 a bushel. 

Wheat futures for September delivery rose 2½¢ to $5.66 1/2 a bushel, while Kansas City futures gained 1½¢ to $5.43¾ a bushel. 

2. Ethanol Production Drops to Lowest in a Month 

Ethanol output fell to the lowest level in more than a month, and inventories declined in the week that ended on June 27, according to data from the Energy Information Administration (EIA). 

Production dropped to an average of 1.076 million barrels a day, the agency said. That’s down from 1.081 million barrels a day the week prior and the lowest since the seven days that ended on May 23. 

In the Midwest, by far the largest producing region, production declined to an average of 1.016 million barrels per day from 1.023 million, EIA said. That’s also the lowest level since late May. 

Rocky Mountain production fell to 10,000 barrels a day, on average, from 11,000 the previous week. 

East Coast output was unchanged week to week at 12,000 barrels per day and West Coast production was steady at 10,000 barrels, the government said. 

Gulf Coast producers saw the only gains this week, rising to an average of 28,000 barrels per day from 26,000 barrels. 

Ethanol inventories in the week through June 27 totaled 24.117 million barrels, down from 24.404 million a week earlier and the lowest level in three weeks, EIA said in its report. 

3. Hot Weather Forecast for Northern Plains

Extremely hot weather is forecast for parts of the northern Plains today, according to National Weather Service maps. 

Heat indexes in northeastern South Dakota will rise to around 100°F this afternoon, the agency said. Values in western Minnesota are forecast to hit as high as 102°F. 

Heat advisories will be in effect 3 p.m.–8 p.m. Outdoor workers are advised to drink plenty of fluids and take frequent breaks, NWS said. 

Counties in northern Minnesota and Wisconsin also will see elevated temperatures. 

Values in the area will range from 94–100°F, the agency said. 

“Hot temperatures and high humidity may cause heat illnesses,” NWS said. 

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