3 Big Things Today, June 6, 2025

1. Soybean, Grain Futures Decline in Overnight Trading

Soybean and grain futures were lower in overnight trading on favorable weather in the U.S. and South America. 

Rain fell this week in southeastern areas of the U.S. Midwest, giving recently planted crops a boost, and more is expected throughout the weekend into early next week, said Don Keeney, an agricultural meteorologist with Maxar. 

Precipitation is forecast for northwestern and southeastern parts of the Midwest throughout the weekend, though some dryness is expected in west-central areas of the region, he said. 

In Argentina, dry weather will allow farmers to continue to harvest their corn and soybeans but will reduce soil moisture for winter wheat, Keeney said. 

Light rain fell this week in the state of Cordoba, but dry weather was prevalent elsewhere. 

Investors overnight largely ignored optimism surrounding trade talks between the U.S. and China, the world’s two largest global economies.

U.S. President Donald Trump said on social media that he spoke with Chinese President Xi Jinping spoke for about 90 minutes. Trump later said Xi had invited him to China and that he invited the Chinese leader to Washington, and that both had accepted the invitations. 

Soybean futures for July delivery dropped 4 1/2¢ to $10.47 1/4 a bushel overnight on the Chicago Board of Trade. Soymeal was down $2.10 to $295 a short ton and soy oil futures gained 0.34¢ to 46.99¢ a pound. 

Corn futures fell 3¢ to $4.36 1/2 a bushel. 

Wheat lost 2 1/4 to $5.43 1/4 a bushel, and Kansas City futures declined 3 1/2¢ to $5.39 a bushel. 

2. Corn, Bean Sales Rise Weekly, Down Annually

Corn and bean sales to overseas buyers both rose week to week but were down on an annual basis, according to data from the Ag Department. 

Export sales of U.S. corn rose 3% to 942,300 metric tons in the seven days that ended on May 29, the agency said in a report. Still, that was down 31% from the same week a year earlier. 

Mexico was the big buyer at 362,300 tons, followed by Japan at 173,500 tons and South Korea at 138,600 tons. Corn exports for the week totaled up 3% to 1.65 million tons. 

Soybean sales rose 33% week over week to 194,300 metric tons but were down 30% from the average, USDA said. 

Bangladesh purchased 57,500 tons from U.S. supplies, Norway was in for 29,600 tons and Taiwan took 24,200 tons. Weekly exports totaled 308,600 tons, up 47% from the week prior.

Wheat sales for delivery in the 2025-2026 marketing year that started on June 1 were reported at 444,900 metric tons versus 711,400 tons the previous week. 

An unnamed country bought 140,500 tons, Nigeria purchased 131,000 tons and Mexico was in for 108,400 tons. 

U.S. wheat exports totaled 540,100 metric tons, up 8% on a weekly basis, the agency said in its report. 

3. Flooding Expected in Parts of the Southern Plains

Flood watches and warnings will remain in effect until at least tomorrow morning in much of the southern Plains, according to National Weather Service maps. 

Heavy showers have saturated soils to the point that any additional precipitation will cause runoff in parts of southwestern Kansas and the Oklahoma and Texas panhandles, the agency said in a report early this morning. 

Another 2 to 3 inches of what’s already fallen is expected this evening into the overnight hours, which may lead to flash flooding in the area. 

Severe weather is forecast to continue in parts of eastern Oklahoma and north Texas, NWS maps show. 

Damaging winds, a brief tornado and flooding are likely with the storms, the agency said. 

“Extremely heavy rainfall rates have also been measured and rapid onset flash flooding is likely,” NWS said. 

Additional storms are expected in the area overnight into Saturday morning when more unsettled weather is expected, the agency said.