3 Big Things Today, Oct. 2, 2025
- Media Logic Radio
- Oct 2, 2025
- 3 min read
Grains, soybeans little changed in overnight trading; Ethanol output falls week to week
By Tony Dreibus Updated on October 2, 2025
1. Grains, Soybeans Little Changed in Overnight Trading
Grain and soybean futures were little changed in overnight trading as investors weigh promises by President Donald Trump to confront China over its lack of soybean purchases against harvest pressure.
Prices got a boost yesterday after Trump said he would meet with Chinese President Xi Jinping and discuss the soybean trade in four weeks.
The president said on social media that China isn’t buying because of “negotiating reasons.” Trump had said he would meet Xi on the sidelines of an economic forum near the end of October after a call a couple weeks ago between the leaders of the world’s two largest economies.
China, which last year purchased about $12.6 billion worth of U.S. beans, has yet to purchase any from the new crop as the trade war between the countries persists.
Still, the lack of actual buying weighed on overnight prices, which were already pressured as the U.S. harvest rolls on.
About 18% of U.S. corn was harvested as of Sunday and 19% of soybeans were in the bin, the U.S. Department of Agriculture said.
Corn futures fell 1/2¢ to $4.16 a bushel overnight on the Chicago Board of Trade.
Wheat futures for December delivery rose 1/2¢ to $5.09 3/4 a bushel. Kansas City futures were up 3/4¢ to $4.96 1/4 a bushel.
Soybean futures for November delivery lost 1 3/4¢ to $10.11 1/4 a bushel. Soymeal dropped 70¢ to $272.90 a short ton and soybean oil futures gained 0.12¢ to 50.54¢ a pound.
2. Ethanol Production Falls in Week Through Sept. 26
Ethanol output dropped in the week that ended on Sept. 26, according to data from the Energy Information Administration.
Production fell to an average of 995,000 barrels per day from 1.024 million a week earlier, the agency said.
That’s also down from the 1.015 million produced during the same week last year.
In the Midwest, by far the biggest producing region, output averaged 940,000 barrels a day, down from 964,000 a week earlier and 961,00 at the same point a year ago.
East Coast output was down by 3,000 barrels to an average of 10,000 a day, and Rocky Mountain production declined by 2,000 barrels to 11,000 a day, EIA said.
Gulf Coast production was unchanged week to week at 26,000 barrels, and the West Coast was the sole gainer, rising to an average of 10,000 barrels a day from 9,000 the week prior.
Ethanol inventories in the week through Sept. 26 totaled 22.8 million barrels, down from 23.5 million barrels seven days earlier, the government said in its report.
EIA said in a statement that it will continue to operate “for a period of time” amid the government shutdown.
“Until further notice, the EIA.gov website will continue to be updated, and publications will continue to be released according to established schedules,” the agency said. “EIA will continue collecting energy data from survey respondents as scheduled.”
3. Severe Storms Possible in Minnesota, Wisconsin
Isolated storms are possible this afternoon in parts of northern Minnesota and Wisconsin, the National Weather Service said in a report early this morning.
Some of the storms may turn severe, the agency said.
Lightning and heavy downpours will be the primary hazards associated with the storms, NWS said.
Further south in parts of southern Missouri, some showers are possible this afternoon.
“There could be a rumble of thunder or two with any showers, creating a low-lightning risk with any storm today,” the agency said.
