3 Big Things Today, June 17, 2025

1. Wheat Futures Rise as Winter Conditions Fall

Wheat futures were higher in overnight trading amid declining winter crop conditions. 

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

Analysts polled by Reuters had expected the agency to leave winter wheat ratings unchanged. 

Ten percent of the crop had been harvested as of Sunday, up from 4% the previous week, but behind the prior five-year average of 16%. 

Still, overnight gains were capped as spring wheat vastly improved. Some 57% of the crop was in good or excellent shape as of Sunday, up from 53% the week prior, the agency said. Analysts were expecting 54% of the crop to receive top ratings. 

USDA raised its ratings for U.S. corn by a percentage point to 72% good or excellent. Analysts were expecting ratings to remain unchanged. 

About 66% of soybeans earned top ratings, down from the previous week’s score and analyst expectations for 68%, the agency said. 

Wheat futures for September delivery rose 2 1/4¢ to $5.54 1/2 a bushel overnight on the Chicago Board of Trade, and Kansas City futures were up 1 1/2¢ to $5.52 1/4 a bushel. 

Corn for December delivery gained 1 1/2¢ to $4.36 1/2 a bushel. 

Soybean futures for July fell 1 1/4¢ to $10.59 1/4 a bushel. Soymeal was up 20¢ to $296.50 a short ton and soy oil futures dropped 0.48¢ to 54.97¢ a pound. 

2. Weekly Soybean, Corn Inspections Decline

Inspections of soybeans for overseas delivery plunged and corn assessments were slightly lower in the seven days that ended on June 12, according to a report from the Ag Department. 

Soybean inspections were reported at 215,803 metric tons, down from 558,616 tons the week prior, the agency said. That’s also well below the 341,170 tons examined at the same point last year. 

Corn assessments totaled 1.67 million metric tons, down from 1.73 million the previous week, but still higher than the 1.38 million inspected in the same week in 2024, USDA said. 

Examinations of wheat for offshore delivery rose to 388,752 metric tons from 324,207 tons a week earlier but was down from 411,561 tons a year ago. 

Since the start of the marketing year on Sept. 1, the government has inspected 52 million metric tons of corn for export, up from 40.5 million tons during the same timeframe a year earlier. 

Soybean examinations since the beginning of September now stand at 45.4 million metric tons, up from 40.9 million in the same period last year. 

Wheat inspections since the start of the grain’s marketing year on June 1 are now at 590,086 metric tons, down from the 708,876 tons that were assessed at this point in the year prior, USDA said in its report. 

3. Thunderstorm Warnings Issued in Parts of Kansas

Severe thunderstorm warnings have been issued this morning for parts of central and eastern Kansas, according to the National Weather Service. 

Winds are gusting up to 70 mph this morning and penny-sized hail has been falling in the region, the agency said in a report issued early this morning. 

Heavy rainfall and strong winds are the main concerns associated with the storms.

“All hazards are possible including large hail up to golf ball (size), damaging winds near 80 mph and a tornado or two,” NWS said. “Additional heavy rainfall will increase flooding potential.”

Storms are expected to continue into tomorrow in parts of southeast Kansas. 

Thunderstorms are also forecast for parts of central and western Illinois this afternoon into tonight, the agency said. 

“Damaging wind gusts, large hail and a tornado will be possible,” NWS said.