3 Big Things Today, Sept. 22, 2025
- Media Logic Radio
- Sep 22
- 3 min read
By Tony Dreibus
1. Soybean Futures Drop on Disappointing Trade Talks
Soybean futures were lower overnight amid disappointing talks between the presidents of the U.S. and China on Friday.
Presidents Donald Trump and Xi Jinping spoke on a phone call, making progress on the divestment of TikTok’s U.S. operations to U.S. investors.
Little was discussed about trade during the call, according to media reports, though the leaders of the world’s two largest economies agreed to meet on the sidelines of the Asia-Pacific Economic Cooperation forum, which starts Oct. 31.
A group of lawmakers from the U.S. are in China to meet with Premier Li Qiang, the second-highest ranking official from the Asian nation. The visit Sunday was the first time a delegation from the House of Representatives had been on a mission to China since 2019.
Little movement or indications of any sort of agreement have been seen from the U.S. and China since the sides agreed to a 90-day moratorium on further tariffs, which ends Nov. 10.
China is the world’s largest importer of soybeans and last year purchased more than $12.6 billion worth from U.S. suppliers, according to data from the USDA.
Soybeans for November delivery dropped 7½¢ to $10.18 a bushel overnight on the Chicago Board of Trade. Soy meal lost $1.50 to $282.50 a short ton, and soybean oil futures declined 0.31¢ to 50.31¢ a pound.
Corn futures fell 1¼¢ to $4.22¾ a bushel.
Wheat futures for December delivery lost 4¢ to $5.18½ a bushel. Kansas City futures were down 2½¢ to $5.04¾ a bushel.
2. Investors Turn Bullish on Beans, Curb Corn Net-Shorts
Investors again turned bullish on beans and reduced their net-short positions, or bets on lower prices, in corn last week, according to data from the Commodity Futures Trading Commission (CFTC).
Speculators were net-long, or bet on higher prices, by 188 futures contracts in soybeans in the seven days that ended Sept. 16, the agency said.
That’s a shift from a bearish position of 13,382 contracts a week earlier.
Investors held a net-short position of 81,497 futures contracts in corn, down from 99,593 contracts a week earlier, the least bearish speculators have been since May 13, CFTC data show.
In wheat, money managers were short 85,799 soft-red winter futures, down from 93,287 contracts the previous week.
Hedge funds and other large investment firms were short by 50,536 futures in hard-red winter wheat, down from 52,163 contracts a week earlier and the smallest bearish position since Aug. 26, CFTC reported.
The CFTC’s weekly Commitment of Traders report shows trader positions in futures markets.
The report provides positions held by commercial traders, or those using futures to hedge their physical assets; noncommercial traders, or money managers (also called large speculators); and nonreportables, or small speculators.
A net-long position indicates more traders are betting on higher prices, while a net-short position means more are betting futures will decline.
3. Rain Expected in Much of Central, Southern Illinois
Showers are forecast for much of central and southern Illinois throughout the day, and while severe weather isn’t expected, heavy rain is possible, the National Weather Service (NWS) said in a report early this morning.
More storms are expected starting tomorrow and lasting through the week, the agency said. There’s a marginal risk for intense storms on Wednesday in southeastern Illinois.
In central Ohio, meanwhile, scattered thunderstorms will develop this afternoon, potentially bringing strong winds and heavy precipitation, the NWS said.
“There are chances for storms through Saturday, especially Tuesday afternoon into Wednesday,” the agency said. “Severe weather is not expected at this time.”
