By Tony Dreibus Updated on November 6, 2025

1. Soybeans, Grains Lower on Weak China Purchases

Soybean and grain futures were lower in overnight trading as China’s purchases of U.S. agricultural products thus far have been disappointing. 

China, the world’s largest importer of soybeans, purchased two cargoes of U.S. wheat and a shipment of sorghum, Reuters reported, citing a U.S. industry official. 

U.S. President Donald Trump and Chinese President Xi Jinping met last week and finalized a trade deal hammered out by negotiators. 

Under the terms of the agreement, China said it would increase purchases of U.S. ag products including soybeans, curb restrictions on rare-earth materials, and make attempts to stop the flow of fentanyl. 

The Asian nation promised to buy up to 12 million metric tons of U.S. soybeans this year and another 25 million tons in each of the next three years. 

Beijing said this week it would eliminate duties on some agricultural products and reduce levies on others, effective Nov. 10. 

U.S. soybeans still face a 13% tariff, which continues to push buyers to South American suppliers such as Brazil and Argentina. 

Chinese importers reportedly purchased 20 cargoes of Brazilian soybeans as the price was less than what they could find in the U.S. 

Soybean futures for November delivery dropped 9½¢ to $11.24¾ a bushel overnight on the Chicago Board of Trade. Soy meal was down $6.90 to $317.90 a short ton and soybean oil futures rose 0.58¢ to 50.27¢ a pound. 

Corn futures for December delivery lost 1¾¢ to $4.33½ a bushel. 

Wheat futures for December delivery plunged 8¼¢ to $5.46½ a bushel, and Kansas City futures were down 8½¢ to $5.31½ a bushel. 

2. Ethanol Production Jumps to Record High

Ethanol output surged to the highest level on records and inventories rose in the week that ended on Oct. 31, the Energy Information Administration said in a weekly report. 

Production jumped to an average of 1.123 million barrels a day, the agency said. 

That’s up from 1.091 million barrels a day in the previous week and the highest since record keeping began in 2010. 

In the Midwest, by far the biggest producing region, output averaged 1.061 million barrels a day, up from 1.036 million the week prior, EIA said. 

Gulf Coast production rose to 29,000 barrels a day, on average, from 24,000 barrels a week earlier, and Rocky mountain output was up to 11,000 barrels a day from 10,000 the previous week.

That was the entirety of the gains as East Coast production was unchanged at 12,000 barrels for a third straight week, and West Coast output was steady at 10,000 barrels a day, the agency said. 

Ethanol stockpiles in the week through Oct. 31 rose to 22.655 million barrels. That’s up from 22.367 million a week earlier and the highest in almost a month, EIA said in its report. 

3. Dry Weather to Give Way to Snow in Central Iowa

Dry weather in parts of central Iowa that’s raised concerns about wildfires in the area is expected to give way to snow later this week, according to the National Weather Service. 

“Elevated fire weather concerns are possible today due to gusty winds and dry conditions,” NWS said. 

Snow is possible on Saturday in the northern half of Iowa as temperatures drop, the agency said. Temperatures will decline enough to freeze water on roadways, making conditions potentially dangerous overnight Saturday into Sunday morning, the agency said. 

Thunderstorms are possible in parts of southern Indiana and Ohio today and tonight. More storms are expected to develop in the area on Friday, some of which may turn severe with damaging winds being the main concern, NWS said. 

ARTICLE: Successful Farming, November 6, 2025