3 Big Things Today, Oct. 28, 2025
- Media Logic Radio
- Oct 28
- 3 min read
Soybean, grain futures jump in overnight trading; Fall harvest rolls on, wheat planting slowed by rain
By Tony Dreibus Updated on October 28, 2025
1. Soybean, Grain Futures Higher on China Optimism
Soybean and grain futures were higher overnight as investors remain optimistic about the prospect of resuming trade with China.
The U.S. and China, which have been locked in an ongoing tariff war for months, reached a potential agreement that may include purchases of soybeans from the U.S.
Negotiators worked on deals related to TikTok operations, rare-earth minerals and other trade items, Treasury Secretary Scott Bessent said.
Presidents Donald Trump and Xi Jinping are scheduled to meet this week on the sidelines of an economic forum in South Korea to potentially finalize a trade deal.
“I have a lot of respect for President Xi, and we are going to come away with the deal,” Trump told reporters on Air Force One after leaving a separate economic conference in Malaysia.
Also boosting prices were trade deals signed with Malaysia and Cambodia, and framework agreements reached with Thailand and Vietnam.
Farm groups including the American Soybean Association and National Corn Growers Association both praised the agreements.
Soybean futures for November delivery added 11 1/4¢ to $10.96 1/4 a bushel overnight on the Chicago Board of Trade. Soymeal was up $3.80 to $302 a short ton and soybean oil futures fell 0.17¢ to 50.6¢ a pound.
Corn futures for December delivery gained 2 1/4¢ to $4.31 a bushel.
Wheat futures for December delivery rose 4 1/2¢ to $5.30 1/2 a bushel, and Kansas City futures added 4¢ to $5.18 1/4 a bushel.
2. Corn, Bean Harvest, Winter Wheat Planting Roll On
The U.S. corn and soybean harvest rolled into the home stretch last week while wheat planting in the southern Plains continues at a slow pace, according to private reports and statements from industry and government organizations.
The corn harvest was about 72% complete, according to a poll from Reuters. About 81% of the crop had been collected at this point last year, though the prior five-year average was 64%, according to data from the Ag Department.
Roughly 84% of soybeans were in the bin at the start of the week, according to the poll. That’s also behind the year-earlier pace when 89% was collected, but ahead of the average of 78% for this time of year.
Weekly crop progress reports from USDA haven’t been published since the government shutdown started on Oct. 1.
Weather in Iowa has been dry in recent weeks, allowing producers to collect crops, though some are wrapping up the harvest and moving onto other fieldwork, according to a report yesterday from the Iowa Department of Agriculture and Land Stewardship.
“Much of Iowa also experienced the first hard freeze of the season as overnight temperatures dropped,” Iowa Secretary of Agriculture Mike Naig said in the statement. “Though scattered rain is possible in parts of the state this week, any pause in field work is likely to be short-lived.”
Drier and warmer conditions are expected to return in November, he said.
Iowa State Climatologist Justin Glisan said in the report that conditions moderated last week after six weeks of unseasonably warm weather.
In Kansas, where hard-red winter wheat planting is underway, recent precipitation improved prospects but also slowed sowing, industry organization Kansas Wheat said in a statement.
Planting was only about halfway complete in central Kansas where Kansas Wheat Commission Chair Derek Sawyer farms.
“Acres are fairly steady so far, but overall I think acres will be down because fall harvest has been delayed,” he said. “We’re up against the deadline for double-cropping behind corn or soybeans.”
Fall armyworms are a problem in some areas, Kansas Wheat said.
“Damage has been mostly on early grazing wheat, but growers are encouraged to watch for pressure on emerging stands,” the statement said.
3. Freezing Weather Headed to the Southern Plains
Freezing weather is expected tomorrow across eastern Colorado, southwestern Kansas and most of the Oklahoma and Texas panhandles, according to National Weather Service reports.
Temperatures in counties along the Colorado-Kansas border may fall as low as 13 degrees Fahrenheit, the agency said.
“Wednesday will be our first chance at a freeze across most of the panhandles,” NWS said. “We’ll still have some breezy north winds left over in the morning, and that will lead to wind chills that could be down in the teens for the northwest panhandles and even the southeast will feel like the upper 20s.”
Further north, strong winds are expected in parts of northern and central Missouri.
Gusts will peak at around 45 mph overnight into tomorrow, the agency said. Winds will gradually decrease throughout the day tomorrow.
