CBOT wheat futures ended mostly lower on Monday on pressure from the ongoing Northern Hemisphere harvest and larger-than-expected US June 1 wheat stocks data. The USDA reported US June 1 wheat stockpiles at 851 million bushels, up 22 percent from a year ago. The agency also reported US all-wheat plantings for harvest in 2025 at 45,478 million acres, roughly in line with trade expectations but up slightly from its March 31 estimate of 45,350 million acres. Funds sold 3.000 contracts. Weekly export inspections of US wheat at 435.000 tonnes were near the high end of a range of trade expectations for 200.000 to 450.000 tonnes. Wheat export inspections for the marketing year beginning June 1 are at 1,28 million tonnes, down 7,9 percent from the same period last year.
CBOT corn futures closed mostly lower on Monday as generally favorable US crop conditions signaled strong production prospects that overshadowed a slightly smaller-than-expected US plantings figure. The USDA reported US corn plantings for 2025 at 95,2 million acres, down from its March 31 forecast of 95,3 million acres but up 5 percent from 2024. The agency reported US June 1 corn stockpiles at 4.644 million bushels, near an average of trade expectations and down 7 percent from a year earlier. Funds were even. Weekly export inspections of US corn at 1,37 million tonnes were in line with trade forecasts that ranged from 1,25 to 1,665 million tonnes. Corn export inspections for the marketing year beginning Sept. 1 are at 54,94 million tonnes, up 29,3 percent from the same period last year.
ICE canola futures jumped on the resumption of Canada-US trade deal talks on Monday. Most-traded November canola gained $16,80 to settle at $709,70 per tonne.
CBOT soybean futures ended mixed on Monday, with nearby contracts under pressure after quarterly stocks data from the USDA showed larger-than-expected supplies as of June 1 at 1.008 million bushels, up 4 percent from a year earlier. But deferred soybean futures found support after the USDA reported US soybean plantings for 2025 at 83,4 million acres, down from its March 31 forecast of 83,5 million acres and down 4 percent from last year. Funds bought 2.000 contracts of soybeans and 2.000 contracts of soyoil, but sold 1.500 contracts of soymeal. Weekly export inspections of US soybeans at 225.000 tonnes were in line with trade expectations for 150.000 to 400.000 tonnes. Soybean export inspections for the marketing year beginning Sept. 1 are at 45,85 million tonnes, up 10,3 percent from the same period last year. Crude oil declined by 41 cents to $65,11.
Source: Stigevo