The U.S. Department of Agriculture's World Agricultural Supply and Demand Estimates (WASDE) report for August 2025 showed mixed results in crop end stocks. Corn end stocks rose to 2.117 billion bushels, exceeding the forecast of 1.9 billion and the previous 1.66 billion. Soybean end stocks fell to 290 million bushels, below the forecast of 352.5 million and the prior 310 million. Wheat end stocks were reported at 869 million bushels, slightly below the forecast of 882.5 million and previous 890 million. Cotton end stocks decreased to 3.6 million bales, under the forecast of 4.5 million and previous 4.6 million. In energy, the American Petroleum Institute reported a Cushing crude oil inventory draw of 0.6 million barrels. The U.S. mortgage market saw a notable increase in applications, with the Mortgage Bankers Association reporting a 10.9% rise in the week ending August 8, 2025, compared to 3.1% the previous week. Purchase applications increased by 1.4%, while refinancing applications surged 23.0%. The 30-year fixed mortgage rate declined slightly to 6.67% from 6.77%. The U.S. Treasury auctioned $100 billion in 4-week bills at a high rate of 4.28%, with a bid-to-cover ratio of 2.67, reflecting strong investor demand. Industrial production data showed a 2.2% increase in manufacturing output in June 2025 year-to-date in an unspecified country, while Japan reported a 1.8% month-on-month decline in capacity utilization for June and a 4.4% year-on-year rise in industrial output. U.S. business inventories remained flat month-on-month at 0.0%, below the forecasted 0.2%.