Andrey Sizov
03.06.2025
Wheat futures rose on Monday. The July SRW wheat contract closed at $5.39/bu ($198/mt; +0.9% from Friday). July Kansas HRW climbed to $5.40/bu ($198/mt; +1.2%). September Euronext wheat settled at €202.50/mt ($232/mt; +0.9%). July U.S. corn fell to $4.38/bu ($173/mt; -1.3%).
As of June 1, 52% of U.S. winter wheat was rated in good or excellent condition, up from 50% a week earlier and above the 50% market estimate, according to USDA data. Spring wheat was rated 50% good/excellent (up from 45% and above the 47% estimate), while corn remained at 69%, unchanged from both the previous week and the market expectation.
Spring wheat planting was 95% complete vs. a market estimate of 93%, and corn planting was 93%, in line with expectations, the USDA said.
Winter wheat harvest was 3% complete, matching the five-year average, according to USDA.
U.S. corn export shipments for the week ending May 29 totaled 1.58 mmt, above the market estimate of 1.00–1.54 mmt, the USDA reported.
Egypt’s Mostakbal Misr purchased 180 tmt of wheat from French traders, Reuters reported, citing trade sources. According to one source, 120 tmt was booked at $246/mt and 60 tmt at $256/mt, both on 180-day deferred payment terms.
