3 Big Things Today, June 24, 2025

1. Wheat Futures Drop as Harvest Continues

Wheat futures were lower in overnight trading as the U.S. winter harvest rolls on.

Nineteen percent of the U.S. winter crop was collected as of Sunday, up from 10% a week earlier, the Department of Agriculture said in a report. That’s still behind the prior five-year average of 28%. 

Growers in Kansas, the biggest producer of winter varieties, 20% of the crop was in the bin versus just 3% a week earlier, but still well behind the average of 31% for this time of year, the agency said. 

About 49% of winter wheat was in good or excellent condition as of Sunday, down from 52% the week prior. 

Soybean futures were modestly lower overnight as planting nears an end and crop ratings remained unchanged week-to-week.

Ninety-six percent of U.S. soybeans were planted at the start of the week and 90% had emerged, USDA said. Eight percent of the crop was blooming. 

Some 66% were in good or excellent condition, on par with the previous week’s ratings. 

Sixty-eight percent of the U.S. corn crop earned top ratings, down from 72% a week earlier, the government said.

Four percent was silking, up from the average of 3% for this time of year, and 97% had emerged as of Sunday. 

Wheat futures for September delivery dropped 6½¢ to $5.63 a bushel overnight on the Chicago Board of Trade, while Kansas City futures plunged 8½¢ to $5.56½ a bushel. 

Corn futures for December delivery fell ¼¢ to $4.33½ a bushel. 

Soybean futures for November delivery lost 3¾¢ to $10.43 a bushel. Soymeal was up $2 to $298.70 a short ton and soy oil fell 1.04¢ to 52.71¢ a pound. 

2. Egg Production Drops 6% in May, USDA Says

Egg output in May dropped year over year along with the number of total layers in the U.S., according to a report from the Ag Department. 

Production fell to 8.59 billion eggs last month, down 6% year over year, the agency said. 

About 7.3 billion were table eggs and 1.29 billion were hatching eggs. Of the hatching eggs, 1.18 billion were broiler types and 108 million were egg types, USDA said. 

The number of egg layers in the U.S. on June 1 totaled 350 million, a 6% drop from the same date a year earlier. 

Some 285 million layers produced table or market eggs, 60.3 million laid broiler-type hatching eggs and 4.13 million produced egg-type hatching eggs. The rate of production averaged 79 eggs per 100 layers, a slight decrease from the beginning of June 2024, the agency said. 

Hatchings in May included 60.9 million egg-type chicks, an 8% increase from the same month last year, the government said. Eggs incubators jumped 11% to 59.6 million. 

About 876 million broiler-type chicks hatched last month, up 1% year over year. Eggs in incubators at the beginning of June rose 1% to 756 million, USDA said in its report. 

3. Unrelenting Heat Continues in Eastern U.S. 

Extreme heat warnings and heat advisories remain in effect for the eastern half of the U.S. 

Heat indexes in northern Indiana and southern Ohio are forecast to reach as high as 105° Fahrenheit, the National Weather Service said in a report early this morning. 

In eastern Missouri and western Illinois, values will rise to 103°F today. 

People working outside are advised to drink plenty of fluids, check on neighbors and pets, and reschedule any strenuous activities for the mornings or evenings.