Thursday June 5th, 2025

• Corn and Wheat are trying to continue their forward momentum, Beans are also in the green this morning.
  • Corn and wheat futures were higher in the overnight trade, as the US dollar continues to weaken and concerns with global Winter Wheat weather worries.
  • Solid export sales for corn, still sitting ahead of pace.  New crop wheat export sales are off to a good start.
• China:
  • Parts of China’s winter wheat crop have suffered due to severe drought.   Production could fall by 5%, the lowest since 2018. 40% of the Winter Wheat crop has been harvested.  It remains too early to determine if China will need to boost wheat imports.  China is the top wheat producer and domestic consumer.
  • President Trump has expressed frustration with Chinese President Xi Jinping as trade talks have stalled between the two nations.
• US ethanol production has jumped to a record weekly high last week, up 4.6% on the week, surging to the highest level in over two months, see graph below.
• North America Weather Highlights:
  • Threats to row crop production with Plains Wheat expected to catch a drier spell of dry/warm weather in the next 10-15 days.
  • The heart of the Corn Belt missing out in active spring weather patterns.  See image below for a better visual on past 60 day precipitation.
  • Canadian Prairies enter a wetter weather pattern next week.  Wildfires across Northern regions of Manitoba and Saskatchewan have forced thousands of people to evacuate.