3 Big Things Today, Nov. 26, 2025
- Media Logic Radio
- 22 hours ago
- 3 min read
By Tony Dreibus | Published on November 26, 2025
1. Soybeans, grains little changed ahead of Thanksgiving.
Soybean and grain futures were little changed amid quiet trading, as traders made their way to the exits ahead of Thanksgiving.
Investors were weighing demand from China, which has purchased soybeans from the U.S., but many wonder if the amounts are enough to meet obligations the Trump administration has laid out.
China on Tuesday purchased at least 10 shipments of U.S. beans, valued at about $300 million, according to an exclusive report from Reuters, citing two traders with knowledge of the deal.
Under the terms of a trade deal signed by President Donald Trump and China’s President Xi Jinping at the end of October, China is expected to purchase 12 million metric tons of U.S. soybeans by the end of the year, and another 25 million tons annually for the following three years.
While Beijing has been buying U.S. beans, market watchers are uncertain China will be able to purchase enough to meet the 12-million-ton obligation.
Soybean futures for November delivery rose ¼¢ to $11.25 a bushel overnight on the Chicago Board of Trade.
Soy meal was down 10¢ to $320.30 a short ton, and soybean oil futures gained 0.18¢ to 50.83¢ a pound.
Corn futures for December delivery gained ½¢ to $4.38¾ a bushel.
Wheat futures for December delivery fell ¾¢ to $5.38½ a bushel, and Kansas City futures added ¼¢ to $5.28½ a bushel.
2. Investors raise bearish bets on born, CFTC says.
Speculators increased their net-short positions, or bets on lower prices, in corn while remaining slightly bullish on soybeans in the seven days that ended Oct. 14, according to data from the Commodity Futures Trading Commission (CFTC).
The data is the latest available, as the agency plays catchup after the longest government shutdown in U.S. history. The CFTC is scheduled to release two reports a week — though only one report in each of the weeks before and after Christmas will be revealed — until the series is caught up, in late January.
Investors held a net-short position of 187,992 futures contracts in corn Oct. 14, up from 134,612 a week earlier, and the largest bearish position since July 1, the agency said.
In soybeans, money managers held a net-long position, or bets on higher prices, of 2,626 contracts, down from 3,901 the week prior.
Speculators held a net-short position of 110,883 soft-red winter wheat futures contracts as of Oct. 14, the government said. That’s up from 95,400 contracts the previous week, and the largest such position since May 13.
Hedge funds and other large investment firms were net short on hard-red winter wheat futures by 67,792 contracts, up from 63,737 contracts a week earlier and the largest bearish position since June 10, the CFTC reported.
The CFTC’s weekly Commitment of Traders report shows trader positions in futures markets.
The report provides positions held by commercial traders, or those using futures to hedge their physical assets; noncommercial traders, or money managers (also called large speculators); and nonreportables, or small speculators.
A net-long position indicates more traders are betting on higher prices, while a net-short position means more are betting futures will decline.
3. Blizzard, strong winds expected in northern Midwest.
Blizzard and winter storm warnings have been issued for counties in Minnesota, Wisconsin, and Michigan, and intense winds are expected in several states from Iowa through Ohio, according to National Weather Service (NWS) maps.
As much as 30 inches of snow are expected in areas of northern Wisconsin by the time the blizzard ends tomorrow morning, the agency said.
“Travel could be very difficult to impossible,” the NWS said. “Gusty winds could bring down tree branches.”
Blowing snow will reduce visibility in the area.
In eastern Iowa and northern Illinois, sustained winds are predicted from 25–35 mph and gust up to 55 mph this afternoon, the agency said.
Objects should be secured and tree limbs may fall, the NWS said. Power outages also may occur.
