3 Big Things Today, March 26, 2025

1. Grains, Beans Little Changed in Overnight Trading

Grain and soybean futures were little changed overnight as investors weigh a maritime ceasefire between Russia and Ukraine. 

The countries, which have been at war since Russia attacked Ukraine in February 2022, agreed to halt maritime activities and end strikes on energy infrastructure. 

Still, Russia put stipulations on its end of the deal, saying the ceasefire would not go into effect if certain sanctions on Russian banks and certain food and fertilizer were lifted. Ukraine, in turn, accused Russia of already walking back promises. 

It's yet unclear when the ceasefire will take effect. 

Traders are also keeping an eye on mixed weather forecasts in South America. 

Rainfall is forecast to trim stress in 30% of Brazil's safrinha corn-growing areas this week, but drier weather in the 6–15-day outlook will increase pressure on growing plants, Commodity Weather Group said in a note to clients. 

Widespread rainfall in Argentina soybean-growing regions is expected today and tomorrow and again Sunday and Monday, the forecaster said. 

The heaviest rain will be in southern and eastern Argentina. 

Corn futures rose 1¢ to $4.58¾ a bushel overnight on the Chicago Board of Trade. 

Soybeans for May delivery were down up 1¼¢ to $10.03 a bushel. Soymeal lost 20¢ to $294.90 a short ton, and soy oil rose 0.23¢ to 42.53¢ a pound.

Wheat futures for May delivery fell ¼¢ to $5.43 a bushel, while Kansas City futures declined 1½¢ to $5.67¾ a bushel. 

2. Red Meat in Freezers Decline Monthly, Annually

Red meat supplies in cold storage at the end of February were down on both monthly and annual basis, according to data from the Ag Department. 

Inventories of beef, pork and other red meats were reported at 871.4 million pounds, the agency said. That's down 1% from the end of January and 5% from February 2024. 

Beef supplies on Feb. 28 totaled 428.1 million pounds, down 2% monthly and 6% year over year, the government said. Boneless cuts composed the bulk of the supplies at 390.4 million pounds. 

Pork inventories were reported at 423.1 million pounds, down 8% month to month but up 4% on an annual basis, USDA said. 

Ham supplies in freezers at the end of February totaled 83.6 million pounds, up 5% monthly and 19% year over year. About 48.6 million pounds of pork bellies were in cold storage. 

Other red meat supplies were reported at 20.1 million pounds as lamb and mutton were reported at 19.5 million pounds, the Ag Department said in its report. 

3. Eastern Nebraska to See ‘Very High Fire’ Risk

Much of eastern Nebraska and some counties in Iowa will face "very high fire danger" this afternoon, according to the National Weather Service.

Winds will gust up to 20 mph in the area today and relative humidity will drop to around 25%, possibly lower in some places, the agency said. 

The dry weather will extend through much of the week. 

In the Quad Cities in eastern Iowa, scattered showers are forecast for tonight into tomorrow, though severe weather is not expected, NWS said. 

More precipitation is expected this weekend, the agency said.