3 Big Things Today, Feb. 5, 2026
- Media Logic Radio
- Feb 5
- 3 min read
By Tony Dreibus | Published on February 5, 2026
1. Soybeans Surge Overnight on Trump's China Comments
Soybean futures jumped in overnight trading after President Donald Trump said China may buy more of the oilseeds from the U.S.
Trump said on social media that a call with Chinese President Xi Jinping went well and the two discussed increasing soybean purchases by China to 20 million metric tons, an increase of 8 million tons from the previously promised amount.
China has agreed to buy the 12 million metric tons of U.S. soybeans immediately and an additional 25 million metric tons from U.S. suppliers in each of the next three years, the White House said after high-level meetings at the end of October.
Sales of soybeans since the start of the marketing year on Sept. 1 still lag last year's levels after a months-long tariff war between the U.S. and China that ended after the sides agreed to terms during the meetings.
Commitments from overseas buyers to purchase U.S. soybeans since the beginning of September are now at 33.9 million metric tons, down 20% from the same period last year, USDA data show.
Exports of the oilseeds have dropped 38% year-over-year.
Corn sales, meanwhile, were up 33% on an annual basis to 57.7 million metric tons, and wheat sales since the start of the grain's marketing year on June 1 are now at 21.6 million metric tons, an 18% increase, according to USDA.
Soybean futures for March delivery jumped 12¢ to $11.04¼ a bushel. Soy meal surged $4.90 to $301.10 a short ton and soy oil futures rose 0.06¢ to 55.72¢ a pound.
Corn futures added ½¢ to $4.30 a bushel.
Wheat futures gained 1¢ to $5.27¾ a bushel, while Kansas City futures were up 1¢ to $5.31¼ a bushel.
2. Ethanol Output Drops to Lowest in Almost Two Years
Ethanol output plunged to the lowest level in almost two years and inventories declined last week, according to data from the Energy Information Administration.
Production dropped to an average of 956,000 barrels a day in the week that ended on Jan. 30, the agency said.
That's down from 1.114 million barrels a day, on average, the previous week and the lowest since April 2024.
In the Midwest, by far the biggest producing region, output averaged 902,000 barrels a day, down from 1.055 million the week prior, EIA said.
Gulf Coast production dropped to 23,000 barrels per day from 29,000 a week earlier.
East Coast output was unchanged for a third straight week at 10,000 barrels a day, and West Coast production was steady at 9,000 barrels, the agency said.
The Rocky Mountain region was the lone gainer for the week, rising to 11,000 barrels a day, on average, from 10,000 barrels the week prior.
Ethanol inventories were down weekly to 25.136 million barrels.
That compares with the previous week's total of 25.4 million barrels and the lowest level in three weeks, EIA said in its report.
3. Warmer Weather May Bring Ice Jams to the Missouri River
Warmer weather is forecast for eastern Nebraska and western Iowa, increasing the potential for ice jams on the Missouri River, the National Weather Service said in a report early this morning.
"If ice jams develop, lowland flooding would be possible," the agency said. "Prepare for quick increases in water levels."
The potential for ice jams to develop will persist through early next week.
Freezing drizzle is possible in parts of eastern Iowa and northern Illinois late tonight, creating slick surfaces, NWS said.
"Patchy freezing drizzle is possible early Friday morning northeast and east of the Quad Cities," the agency said.
ARTICLE: SUCCESSFUL FARMING, FEBRUARY 5, 2026
