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1Repair Windows errors before they cause bigger problems2Scan for outdated or missing drivers - takes under a minute3Clear out junk files and repair common Windows errorsOn May 12, 2025, Agriculture.com / Successful Farming’s daily roundup focused on three developments: a U.S.–China tariff announcement that lifted soybean futures overnight, changes in money-manager positions across grain futures, and elevated fire danger in parts of the Northern Corn Belt. The prices, positions, and forecasts below are historical figures from that date, not current market data or weather conditions.
1. Soybean futures rose after a U.S.–China tariff announcement
The May 12 roundup linked a sharp overnight rise in July soybean futures to an announced, temporary reduction in U.S.–China tariffs. Under the terms reported in the article, each country planned to reduce tariffs on the other by 115 percentage points, bringing the stated general rate to 10%. The U.S. was also to retain an additional 20% in fentanyl-related levies on Chinese goods. The planned reductions were scheduled to take effect by Wednesday, May 14, and last 90 days while negotiations continued. These were terms and a timetable reported in May 2025, not a description of current tariff policy. Agriculture.com / Successful Farming’s May 12 roundup reproduced the joint statement’s reference to “the importance of their bilateral economic and trade relationship to both countries and the global economy” and a goal of “a sustainable, long-term, and mutually beneficial economic and trade relationship.”
Overnight futures figures reported May 12
| Contract | Reported move and price |
|---|---|
| July soybeans | Rose 17¼ cents to $10.69 per bushel |
| Soymeal | Rose $2.66 to $296.70 per short ton |
| Soybean oil | Gained 1.7 cents to 50.27 cents per pound |
| July corn | Rose 3½ cents to $4.53¼ per bushel |
| Chicago wheat | Unchanged at $5.21¾ per bushel |
| Kansas City wheat | Gained 1½ cents to $5.19 per bushel |
These are overnight historical quotes as reported in the roundup; they should not be used as live prices.
2. Money managers’ reported grain positions shifted
The roundup summarized CFTC Commitments of Traders data for the week ending May 6, 2025. It said money managers reduced their net-long corn position and moved from net long to net short in soybeans. A net-long position means reported positions favoring higher prices exceed those favoring lower prices; a net-short position means the reverse. Positioning describes traders’ holdings, not a direct forecast of where prices will go.
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Positions reported for the week ending May 6
| Contract category | Reported position | Previous week |
|---|---|---|
| Corn | Net long 29,109 contracts | Net long 86,129; the roundup called the May 6 position the smallest bullish corn position since November 5 |
| Soybeans | Net short 41,728 contracts | Net long 58,928; the roundup called the May 6 position the smallest such position since April 8 |
| Soft red winter wheat | Net short 105,936 contracts | Net short 112,216 |
| Hard red winter wheat | Net short 68,873 contracts | Net short 63,964 |
The CFTC report groups traders into commercial traders, who use futures to hedge physical assets; noncommercial traders, such as money managers and large speculators; and nonreportables, or small speculators. The figures above concern the money-manager positioning described by the roundup and distinguish the two wheat contract categories. Agriculture.com / Successful Farming’s summary of the CFTC data reported the figures.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.3. Dry, windy weather raised fire danger in the Northern Corn Belt
The May 12 roundup reported red-flag warnings in parts of the Northern Midwest, including the Dakotas, Minnesota, Wisconsin, and Nebraska, as dry conditions persisted. The local forecast details below were reported for that day and are not current weather guidance.
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- Central Nebraska: winds of 15–25 mph, gusts up to 35 mph, and relative humidity near 18%.
- Central Minnesota: gusts up to 30 mph and relative humidity near 15%.
The roundup quoted the National Weather Service warning that “Any fires that develop will likely spread rapidly,” and said outdoor burning was not recommended in the affected conditions. Those statements describe the historical warning reported on May 12, 2025; anyone making a present-day decision about burning or fire risk should consult the current local National Weather Service warning. The article also said thunderstorms were possible that afternoon and evening in parts of central and southern Illinois, with severe weather not expected. Agriculture.com / Successful Farming’s dated roundup reported these forecast details.
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