3 Big Things Today, Nov. 13, 2025
- Media Logic Radio
- Nov 13
- 3 min read
By Tony Dreibus Published on November 13, 2025
1. Wheat Futures Lower in Overnight Trading
Wheat futures declined in overnight trading amid an outlook for increased production in Argentina and as investors square positions ahead of tomorrow’s supply and demand reports from USDA.
Production in Argentina is now forecast by the Rosario Board of Trade at 24.5 million metric tons, up from a previous outlook for 23 million metric tons. If realized, that would be a record high.
Also weighing on prices overnight are expectations that USDA will increase its forecast for domestic wheat ending stocks when it releases its first supply and demand report in two months on Friday.
Analysts polled by Reuters are expecting the agency to increase its outlook for inventories to 867 million bushels, up from the September projection for 844 million bushels.
Still, some fundamental factors are keeping prices from falling too much.
The 43-day government shutdown is over after lawmakers worked out a deal and President Donald Trump signed off on the agreement in a ceremony late last night in the Oval Office.
Also underpinning prices are expectations that Russian wheat production will be down considerably from previous forecasts.
Russian output may decline to 83.8 million metric tons this year amid a drop in planted area, consultancy SovEcon said. That’s down from the current forecast for 87.8 million tons.
Wheat futures for December delivery fell 4¾¢ to $5.31¼ a bushel overnight on the Chicago Board of Trade, and Kansas City futures dropped 3¼¢ to $5.22¼ a bushel.
Corn futures for December delivery fell ¾¢ to $4.34½ a bushel.
Soybean futures for November delivery rose 3¢ to $11.36¾ a bushel. Soy meal was down 40¢ to $320.60 a short ton and soybean oil futures gained 0.34¢ to 50.96¢ a pound.
2. Tractor, Combine Sales Plunge Yearly in October
Tractor and combine sales plunged in October as transactions were down across the board, according to a report from the Association of Equipment Manufacturers.
Sales of all tractors were reported at 17,258 units, down almost 20% from the same month last year, AEM said.
Two-wheel drive sales fell 18% to 16,942 as buyers purchased 9,585 tractors with less than 40 hp, down 22%; 5,237 units with 40–100 hp, down 11%; and 2,120 vehicles with more than 100 hp, which was down 17% year over year, the association said.
Sales of 4-wheel drive tractors plunged 56% to 316 vehicles.
Combine sales also dropped, falling 27% to 376 units, AEM said.
Sales from Jan. 1 through Oct. 31 dropped 9.2% to 171,680 tractors. Two-wheel drive tractor sales were down 8.5% to 169,464 units and 4-wheel drive purchases declined 42% to 2,216.
Combine sales in the first 10 months of the year totaled 3,053 units, down 38% on an annual basis, the association said.
3. Fire Danger Levels Rise in Parts of South Dakota
Dry and windy conditions will increase wildfire risks in parts of southern South Dakota into the weekend, according to the National Weather Service.
Elevated fire-weather conditions will likely start tomorrow and last through Saturday, the agency said.
Those starting fires are advised to use caution as the dry conditions could lead to wildfires.
Extremely dry weather is also forecast for counties in the Texas panhandle.
“Spotty elevated fire danger is possible this afternoon, mainly over the southwest Texas panhandle and northwest south Plains,” NWS said. “Localized areas of elevated fire weather conditions will be possible on both Friday and Saturday.”
