Friday June 20th, 2025

• Markets are mixed this morning: wheat is up, beans and corn are slightly lower.
  • A mixed session is expected today with bearish US weather forecast and US export demand is lackluster.  
  • Wheat futures holding on to their recent gains.
  • Corn and soybeans bounced back for grains early this morning but losing their momentum.  The SX5 contract has made a quite the move over the past week, fueled by the biofuel/RVO announcement.  We are now back to levels we saw in early February.
  • Soybean oil is stronger today, posting new move highs.
• The Israel/Iran war intensified with Iran stating that there will be no nuclear disarmament talks under Israeli fire.
• Argentina seeded 60% of its wheat crop in favorable soil moisture.
  • Argentina corn harvest progress is going well, see below chart. 
• A US/China trade deal would be ideal for the soybean market.  If a deal cannot be reached by the middle of August, the window for China to secure US soybeans during the harvest time frame will diminish.
• Private exporters reported a sale of 124,000MT of Corn for delivery to unknown during the 2025/26 marketing year.