Consus Ag Consulting Afternoon Recap

Monday, June 30th, 2025

Futures were mixed to start the week which was not surprising given it was month and quarter end, and all spot contract went into delivery. Final positioning ahead of the quarterly stocks and acreage numbers added to mixed trade. Deliveries against the July contracts were light, with only meal seeing a larger number. The soy complex led the market this morning following a flash sale of 204,000 metric tons to an unknown buyer for 2025/26 shipment. This is the first sizable purchase by an unknown importer and may finally be China showing up for new crop business. There is starting to be more interest in US weather forecasts as more areas are starting to report less than ideal growing conditions. Good areas still outnumber troubled spots which is limiting market response. Trade is expecting crop ratings to improve in the weekly condition report. If they do not, the market opinion on developing crop potential may start to shift.