3 Big Things Today, Nov. 24, 2025
- Media Logic Radio
- 1 day ago
- 3 min read
By Tony Dreibus | Published on November 24, 2025
1. Wheat Futures Decline in Overnight Trading
Wheat futures were lower overnight on forecasts for precipitation in the U.S. southern Plains and on projections for ample world crops.
Rainfall was expected in the southern Plains over the weekend and more is forecast for this week, Don Keeney, an agricultural meteorologist with Maxar, said in a note to clients.
“Additional rain in central and southeastern areas will improve moisture for wheat, but dryness will continue in northern (and) southwestern areas,” Keeney said.
Soft red winter wheat growing in the Delta region also received rain over the weekend and may see more throughout the week.
Soybean prices were little changed as investors debate whether recent purchases by China will be enough to meet previously stated mandates.
China has thus far purchased less than 2 million metric tons of U.S. soybeans this year, well below the 12 million tons the Trump administration had indicated the Asian nation would buy after signing a trade agreement at the end of October.
Still, USDA reported sales of 462,000 metric tons of soybeans last Thursday, 330,000 tons on Wednesday and 792,000 tons on Tuesday —all to China.
Wheat futures for December delivery fell 4¾¢ to $5.35 a bushel overnight on the Chicago Board of Trade, and
Kansas City futures dropped 4½¢ to $5.21¾ a bushel.
Corn futures for December delivery lost 2½¢ to $4.35 a bushel.
Soybean futures for November delivery lost 2¢ to $11.23 a bushel. Soy meal was down $2 to $317.20 a short ton and soybean oil futures dropped 0.29¢ to 50.29¢ a pound.
2. Cattle on Feed, Placements Drop; Milk Output Rises
USDA released several reports late Friday that had been delayed due to the government shutdown including its cattle on feed and milk production reports.
The number of cattle and calves on feed on Nov. 1 totaled 11.7 million head, the agency said. That’s down 2% from the same date a year earlier.
Placements into feedlots in October were reported at 2.04 million head, a 10% year-over-year drop and the lowest since recordkeeping began in 1996, the government said.
About 515,000 cattle weighing less than 600 pounds were placed, along with 420,000 head weighing 600–699 pounds, 445,000 weighing 700–799 pounds, 384,000 head from 800–899 pounds, 195,000 weighing 900–999 pounds and 80,000 head of 1,000 pounds or greater.
Marketings in October totaled 1.7 million head, down 8% from the same month last year, USDA said.
Milk production in 24 major states in October, meanwhile, rose 3.9% on an annual basis to 18.7 billion pounds, the agency said.
Output in September in the two dozen states was revised to 18.2 billion pounds, up 4% year over year.
Per-cow production rose by 30 pounds to 2,049 pounds last month, and the number of milk cows on farms rose by 211,000 to 9.14 million head.
3. Intense Winds Expected in South Dakota, Nebraska
Strong winds are forecast for much of southern South Dakota and northern Nebraska this afternoon as gusts of up to 60 mph are possible, according to the National Weather Service.
Winds will be sustained in the area from 30–40 mph, the agency said.
“The high winds may damage roofs, small outbuildings and signs,” NWS said. “Power outages are possible. Travel could be difficult, especially for high-profile vehicles.”
Storms are expected to roll through parts of eastern Oklahoma and central Arkansas throughout the afternoon.
Some strong to severe storms may form over the Red River with hail being the primary threat, the agency said. Heavy rain and flash flooding are also possible.
“A heavy rain threat which could lead to localized areas of flash flood conditions also exists across southeast Oklahoma into west-central Arkansas,” NWS said.
