3 Big Things Today, Oct. 6, 2025
- Media Logic Radio
- Oct 6
- 3 min read
Wheat futures higher in overnight trading; Fewer farmers believe their farms have strong balance sheets
By Tony Dreibus Updated on October 6, 2025
1. Wheat Futures Slightly Higher in Overnight Trading
Wheat futures were modestly higher in overnight trading on some optimism about exports and potential planting delays in the U.S.
Investors were positive on trade after Taiwan flour millers purchased 80,550 metric tons of U.S. wheat in a tender last week.
U.S. exporters shipped 8.56 million metric tons of wheat to overseas buyers from the start of the grain’s marketing year on June 1 through mid-September, according to data from the Department of Agriculture.
Data is only available through the week that ended on Sept. 18 due to the ongoing government shutdown.
Most government reports including weekly export sales, crop progress and export inspections will not be published during the shutdown.
Wet weather, which may delay winter-wheat planting in parts of the U.S. southern Plains, also helped underpin prices overnight.
Light precipitation is expected in parts of the Oklahoma and Texas panhandles today into tomorrow, according to the National Weather Service. Rain chances are forecast to increase tonight across the area, the agency said.
Still, capping prices was news out of Argentina that the country’s wheat crop was 93% good or excellent, up from 89% a week earlier, the Buenos Aires Grain Exchange said.
Wheat futures for December delivery rose 1 1/2¢ to $5.16 3/4 a bushel. Kansas City futures were up 2¢ to $4.99 a bushel.
Corn futures added 1¢ to $4.20 a bushel overnight on the Chicago Board of Trade.
Soybean futures for November delivery gained 3¢ to $10.21 a bushel. Soymeal fell 20¢ to $278.40 a short ton and soybean oil futures gained 0.41¢ to 50.46¢ a pound.
2. Fewer Farmers Seeing Strong Farm Balance Sheets
The number of producers who believe their farms had a strong balance sheet plunged from previous forecasts in August and growers are facing more financial stress, according to analysis of the Purdue University-CME Group Ag Economy Barometer.
About 67% of farmers agreed or strongly agreed that their farms had a strong balance sheet last month, down from 82% in February and 90% in April 2023, said economists Michael Langemeiere, James Mintert and Joana Colussi from the Center for Commercial Agriculture at Purdue University.
The barometer revealed a dichotomy between crop farmers and livestock producers, the analysis shows.
Twenty-four percent of crop farmers expected to have more operating loans in the upcoming year, while only 19% of livestock producers plan to borrow more, the report said.
“The difference in responses for the (question about operating loans) varied substantially among crop and livestock farms, with more crop farmers expecting difficulty in paying operating debt this year,” the economists said.
About 6.5% of crop farms were financially stressed, about triple the number of livestock farms.
“The contrast in sentiment between crop and livestock producers reflects the broader realities playing out in the U.S. agricultural markets,” the report said. "Livestock producers, especially in the beef sector, are riding a wave of historically high prices and profitability -- fueled by tight domestic supplies, a disease-related prohibition on imports from Mexico, and import tariffs that have created favorable conditions for producers.
“Meanwhile, the grain sector is under pressure from a combination of inflated production costs and crop-price weakness.”
3. Freeze, Frost Warnings Issued in Much of North Dakota
Freeze warning and frost advisories have been issued for much of North Dakota as winter weather moves in, according to National Weather Service maps.
Temperatures were forecast to drop as low as 25 degrees Fahrenheit overnight, the agency said. The freeze warning will remain in effect for the western two-thirds of the state until 10 a.m.
The eastern third of the state, meanwhile, is under a frost advisory until 9 a.m. local time. Temperatures in the area overnight fell to about 33 degrees, resulting in frost formation.
Further south, scattered showers are expected today in central Iowa, NWS said.
“Scattered showers are expected with weak storms possible at times,” the agency said. “A strong storm cannot be ruled out over southeastern Iowa into the afternoon.”
