3 Big Things Today, Oct. 10, 2025
- Media Logic Radio
- Oct 10
- 3 min read
Soybean, grain futures lower overnight; Deere’s North American outlook bleak, may benefit overseas.
By Tony Dreibus Published on October 10, 2025
1. Soybean, Grain Futures Lower in Overnight Trading
Soybeans and grains were lower overnight due to harvest pressure and market uncertainty heading into the weekend.
The harvest in the U.S. rolls on amid favorable weather in several growing areas.
Twenty-nine percent of the corn crop was in the bin at the start of the week, according to a Reuters poll of nine analysts. Thirty-nine percent of soybeans were harvested as of Sunday, the poll said.
Government data, including the weekly crop progress report from the USDA, is not available during the government shutdown — now in its second week — so traders, farmers, and other market-watchers are turning to private polling for information.
Also weighing on prices overnight is market uncertainty, as China continues to shun U.S. soybeans, while Brazil is now set for record-high exports.
President Donald Trump has said he plans to meet with President Xi Jinping at the end of the month on the sidelines of an economic forum.
Soybean futures for November delivery dropped 8¢ to $10.14¼ a bushel overnight on the Chicago Board of Trade. Soy meal lost $1.10 to $275.80 a short ton, and soybean oil futures fell 0.41¢ to 50.53¢ a pound.
Corn futures declined 1¢ to $4.17¼ a bushel.
Wheat futures for December delivery were down 1¼¢ to $5.05¼ a bushel, and Kansas City futures lost 1¾¢ to $4.88 a bushel.
2. Deere North America Outlook Bleak, Has Opportunities Overseas
While the outlook isn’t exactly rosy for Deere & Co. in North America, the company is seeing opportunities overseas, according to analysts at Trust Securities.
Trade uncertainty due to the ongoing tariff wars between the U.S. and several other countries has led to low expectations from investors, the analysts said in a note to clients this week.
Orders through an early purchase program are down 20% this year, the company said, though Truist doesn’t see other product lines suffering the same fate, as they‘ve already been down for several years.
Overseas markets, meanwhile, are also looking more favorable for the maker of agricultural equipment.
“Furthermore, (Deere) is seeing green shoots in the rest of the portfolio including European and Brazilian ag and its construction and forestry businesses,” the analysts said.
The company likely will benefit from about 10% underproduction in the small ag, turf and construction, and forestry segments, and will see gains from cost-cutting measures, Truist said.
Deere is expected to hold its investor day Dec. 8, when it will discuss long-term plans and financial targets, the analysts said.
3. Windy, Dry Conditions Expected in Minnesota
Strong winds and low humidity raise the odds of wildfires in parts of central and southern Minnesota, according to the National Weather Service (NWS).
Winds are expected to gust up to 20 mph while relative humidity is forecast to drop below 30% this afternoon, the agency said.
Humidity is expected to remain low throughout the weekend and winds tomorrow could gust up to 25 mph, the NWS said.
In Illinois, meanwhile, scattered showers and storms are anticipated to rumble southeast over northern counties today and tonight.
Severe storms aren’t expected, but lightning is possible, NWS said.
