3 Big Things Today, June 10, 2025

1. Wheat, Corn Futures Drop on Improved Conditions

Wheat and corn futures plunged in overnight trading after the condition of U.S. crops improved more than anticipated. 

About 54% of the winter wheat crop was rated good or excellent at the start of the week, up from 52% a week earlier, the U.S. Department of Agriculture said in a weekly report. 

Analysts polled by Reuters were expecting 52%. 

The winter harvest is underway with 4% in the bin as of June 8 versus 3% the previous week and the prior five-year average of 7%. 

Fifty-three percent of the U.S. spring crop was in good or excellent shape as of Sunday, the agency said. That’s up from 50% the week prior and analyst expectations for 51%.

The corn crop improved as 71% earned top ratings, up from 69% a week ago and the trade estimate for 70%.

Some 87% of the crop has emerged, USDA said. That’s an increase from 78% a week earlier and 83% at this point last year. 

Soybean futures were little changed overnight as 68% of the U.S. crop earned top ratings, up from 67% a week earlier but on par with analyst forecasts. 

About 90% of soybeans were planted at the start of the week versus 84% a week earlier and 86% a year ago, the agency said. Seventy-five percent of the crop had emerged, up from 63% a week earlier and 68% at this point in 2024. 

Wheat futures for July delivery dropped 19 1/4¢ to $5.35 1/2 a bushel overnight on the Chicago Board of Trade, and Kansas City futures were down 17 1/4¢ to $5.32 a bushel. 

Corn futures plunged 12 1/4¢ to $4.30 1/4 a bushel. 

Soybean futures for July delivery fell 1/4¢ to $10.57 a bushel. Soymeal was down $1.50 to $294.20 a short ton and soy oil futures gained 0.09¢ to 47.59¢ a pound. 

2. Weekly Soybean Export Inspections Surge

Inspections of soybeans for overseas delivery surged in the seven days that ended on June 5, according to data from the Ag Department. 

Soybean assessments totaled 547,040 metric tons, the agency said. That’s up from 301,459 tons the week prior and ahead of the 234,061 tons that were examined for export during the same week last year. 

Corn inspections rose to 1.66 million metric tons from 1.64 million the previous week, USDA said. 

Examinations of wheat for export, meanwhile, dropped to 290,957 metric tons last week, down from 553,409 tons a week earlier and 352,901 tons at this point last year. 

Since the start of the marketing year on Sept. 1, the government has inspected 45.2 million metric tons of soybeans for overseas delivery, up from 40.5 million tons during the same timeframe a year ago. 

Corn examinations since the beginning of September stand at 50.3 million metric tons, jumping from 39.1 million tons at this point a year earlier, the agency said. 

Wheat inspections in the first few days of the 2025-2026 marketing year that started on June 1 totaled 168,084 tons, down from 297,315 at the point last year, USDA said in its report. 

3. Hot Weather, Storms Expected in Nebraska 

Hot weather today will give way to potentially severe thunderstorms in parts of western and central Nebraska, according to the National Weather Service. 

Highs today in the region will range from the high 80s to mid-90s, the agency said. 

Thunderstorms may form tomorrow and Thursday, possibly bringing wind and hail to the area, NWS said. Even as the storms roll though, however, temperatures will remain high. 

In the Oklahoma and Texas panhandles, there’s a low chance for thunderstorms throughout the rest of the week. 

Warmer weather is on the way, however, as increased temperatures are forecast starting this weekend along with fewer chances for thunderstorms, the agency said. 

Temperatures in the region likely will reach well into the upper 90s on Sunday, NWS said.