3 Big Things Today, March 27, 2025
U.S. soybean futures edged higher overnight as analysts anticipate the USDA’s upcoming Prospective Plantings report to indicate a slight decrease in soybean acreage to 83.762 million acres, down from February’s 84 million. Corn plantings are expected to rise to 94.361 million acres. Ethanol production declined to a two-month low of 1.053 million barrels per day last week. Winter weather advisories are in effect for parts of North Dakota and Minnesota due to anticipated snow and ice.
1. Soybean Futures Slightly Higher Overnight
Soybean futures were modestly higher in overnight trading as analysts expect the U.S. Department of Agriculture to lower its forecast for planted acres from a February forecast.
Area planted with beans this year likely will be estimated at 83.762 million acres in the upcoming Prospective Plantings report from USDA, according to a Reuters poll.
That’s down narrowly from the February outlook for 84 million acres.
Corn plantings will probably be forecast at 94.361 million acres, according to analysts, up from the previous projection for 94 million.
Wheat will be sown on 46.475 million acres, the Reuters poll said, down from the February estimate for 47 million acres.
USDA is scheduled to release its annual report at noon on Monday.
U.S. producers last year planted 87.1 million acres with soybeans, 90.6 million acres with corn and 46.1 million acres with wheat, according to USDA data.
Investors are also watching today’s so-called coalition of the willing — a meeting with leaders from countries that have pledged support for Ukraine — as heads of state and other government officials meet in Paris to discuss security and ceasefire plans for the war-torn country.
Soybeans for May delivery were up 2 3/4¢ to $10.03 3/4 a bushel overnight on the Chicago Board of Trade. Soymeal added 40¢ to $294 a short ton, and soy oil rose 0.21¢ to 42.85¢ a pound.
Corn futures rose 1/4¢ to $4.51 1/2 a bushel.
Wheat futures for May delivery fell 1/4¢ to $5.35 a bushel, while Kansas City futures added 1 1/4¢ to $5.66 1/4 a bushel.
2. Ethanol Production Drops to Two-Month Low
Ethanol output last week dropped to the lowest level in almost two months, according to data from the Energy Information Administration.
Production fell to an average of 1.053 million barrels a day in the week that ended on March 21, the agency said.
That’s down from 1.105 million barrels a day, on average, the previous week and the lowest since the seven days that ended on Jan. 24.
In the Midwest, by far the biggest producing region, output averaged 1.002 million barrels a day, down from 1.057 million barrels the week prior, EIA said.
That was the entirety of the weekly losses, however, as three regions saw no change in their production.
Gulf Coast output was steady at 19,000 barrels a day, Rocky Mountain production was unchanged at 11,000 barrels a day and West Coast output remained at 10,000 barrels a day, on average, for the third straight week, the agency said.
East Coast production was the lone gainer, rising to an average of 11,000 barrels a day from 9,000 barrels a week earlier.
Ethanol inventories in the week through March 21 rose to 27.35 million barrels. That’s up from 26.575 million the week prior, EIA said in its report.
3. Winter Weather Forecast for North Dakota, Minnesota
Winter weather advisories have been issued for counties in northern North Dakota and Minnesota as snow and ice are expected.
Up to an inch of snow are a tenth of an inch of ice are forecast for the area starting late tonight into Friday, the National Weather Service said in a report early this morning. Winds will gust as high as 35 mph.
Roads likely will be slippery in the affected areas.
In the southern Plains where hard-red winter wheat is growing, dry conditions may lead to wildfires Friday and Saturday, NWS said.
Conditions are expected to remain dry through the weekend and winds will be gusty, the agency said. Near-record temperatures are forecast for the region for the next two days.
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