Monday June 2nd, 2025

Corn and wheat are trading in the green to start off the day, soybeans are trading slightly in the red.
- Russia and Ukraine ramped up the war over the weekend but are also set to hold peace talks today.
Exporters sold 210,560mt of corn to unknown destinations.
Weekend Rainfall
- Rains mostly held off over the plains and corn belt this weekend. Rain is expected to move in on the northern plains and northwestern corn belt today. This week’s rain forecast looks wet, and the extended weather maps show wetter than normal conditions though warmer than normal.
- Argentina saw limited rain helping move harvest along.
- Brazil was dry over the weekend. The forecast shows rains will pick up this week.
US export sales
- Corn sales were down compared to the previous week at 916,700mt. Corn sales are 28% higher than last year at this time. The USDA projects that US corn exports will increase by 11.2% this year.
- Soybean sales decreased vs. the prior week at 146,000mt. Current sales are up 12% compared to the same time last year.
- Wheat sales increased week over week. Sales are up 13% compared to the same period last year.
Brazil’s second crop corn harvest has begun, this crop is estimated to produce 95.5mmt. Brazil’s total corn crop is expected to be the second largest ever produced
The funds
- Corn, soybeans, and wheat were all net buyers for the week. Corn and wheat funds are sitting modestly compared to history, soybean funds are sitting net long of 61k contracts, this is the largest since the first week of february.
Conversations between China and the US have come to a stop, Trump accused China of violating the preliminary trade agreement. The US may return with higher tariffs.