3 Big Things Today, Oct. 3, 2025
- Media Logic Radio
- Oct 3, 2025
- 3 min read
Soybean, corn futures little changed overnight; ag, ethanol groups applaud California E15 passage.
By Tony Dreibus Published on October 3, 2025
1. Soybeans, Corn Little Changed in Overnight Trading
Soybean and corn futures were little changed overnight, as prices were pressured by favorable weather and the ongoing harvest but buoyed by optimism about increased corn use in ethanol.
Dry weather through early next week likely will help with crop drydown and collection in the Midwest, said Don Keeney, an agricultural meteorologist with Maxar.
Drier conditions are also forecast in the Delta region, which also will help accelerate the harvest, he said.
U.S. farmers will produce 4.301 billion bushels of soybeans this year on yield of 53.5 bushels per acre (bpa), the USDA reported last month. Corn production is seen at 16.814 billion bushels on yield of 186.7 bpa, both of which would be records, if realized.
Prices overnight were also facing harvest pressure, as crop collection rolls on.
Eighteen percent of U.S. corn was harvested and 19% of soybeans were in the bin at the start of the week.
Still, prices were underpinned in overnight trading after California passed a law allowing sales of E15 blends.
That’s expected to increase the amount of corn used for ethanol blends.
Soybean futures for November delivery lost 1¢ to $10.22¾ a bushel overnight on the Chicago Board of Trade.
Soy meal added $1.20 to $280.50 a short ton, and soybean oil futures fell 0.07¢, to 50.37¢ a pound.
Corn futures rose ¾¢ to $4.22½ a bushel.
Wheat futures for December delivery rose 1½¢ to $5.16¼ a bushel. Kansas City futures were up 1½¢ to $5.00½ a bushel.
2. Industry Applauds California’s E15 Bill; More to Be Done
Ag and ethanol groups applauded California’s passage of a bill allowing sales of E15 in the state, though the National Corn Growers Association (NCGA) said there’s more to be done.
California Gov. Gavin Newsom signed Assembly Bill 30 yesterday after studies showed that allowing the blend that contains 15% ethanol could reduce gas prices by 20¢ and save drivers in California $2.7 billion annually, according to a statement from the governor’s office.
A separate study found that increasing ethanol blending would have no effect on nitrogen oxide emissions and would reduce particulate emissions.
“Many other states have already seen the benefits of E15 — healthier air, better engine performance, and cost savings at the pump,” Renewable Fuels Association (RFA) President Geoff Cooper said in a statement. “Now, California drivers are about to experience those same advantages for themselves, and we thank Gov. Newsom for voicing his support for E15 throughout the legislative process.”
California was the only state that hadn’t legalized E15 sales.
NCGA said it’s “appreciative” that the governor signed the bill but encouraged lawmakers to allow access to ethanol blends nationally.
“While today’s development is a sign of progress, many consumer across the country still lack year-round access to E15,” the association said. “We call on Congress to pass legislation that will extend access nationwide.”
3. Red-Flag Warnings Issued in Parts of South Dakota
Extremely dry weather is expected in parts of central and western South Dakota throughout the day, increasing chances for wildfires, according to the National Weather Service (NWS).
Southerly 15–25-mph winds are expected this afternoon with gusts up to 40 mph possible, the agency said. It predicted relative humidity to drop to around 20%.
Red-flag warnings, an indication that conditions are ripe for wildfires, have been issued in the area until this evening.
“Any fires that ignite will spread rapidly and become difficult to control or suppress,” the NWS said.
In central and eastern Illinois, breezy conditions this weekend will also create tinderbox-like conditions and raise chances for fires, the agency said.
