Global Ag News For June 3.2025

TOP HEADLINES

US Efforts to Boost Crop Sales to Asia Bearing Fruit in Vietnam

US efforts to increase exports of agricultural products to Asia, excluding China, look to be bearing fruit, with Vietnam pledging to buy more American goods to strengthen trade ties with Washington.

Hanoi is expected to sign deals with Washington to purchase more than $2 billion worth of agricultural, forestry and fishery products, according to a statement posted on the Vietnamese government’s website. The nation has vowed to increase buying of American goods, and offered to remove all tariffs on US imports to secure a trade deal and avoid high tariffs.

The Southeast Asian nation is already scooping up more grains from the US, especially corn, as shipments have become more attractive than South American supplies. The development comes at a time when demand from China has collapsed following trade tensions between the world’s two biggest economies.

A 50-member delegation led by Do Duc Duy, Vietnam’s agriculture and environment minister, is in Iowa to sign five memorandums of understanding between the Vietnamese feed industry and private American companies, the Iowa Corn Growers Association said in a post on its website.

Two of the MOUs, covering the export of 900,000 tons of US corn and 250,000 tons of dried distillers grains, or DDGS, have already been signed, the association said.

Vietnam is seen importing 12.7 million tons of corn in the 2025-26 season, making it the world’s third-largest buyer of the corn, according to data published by the United States Department of Agriculture.

 

FUTURES & WEATHER

Wheat prices overnight are down 5 in SRW, down 7 3/4 in HRW, down 7 in HRS; Corn is down 1 1/2; Soybeans up 3 1/4; Soymeal up $1.20; Soyoil down 0.17.

For the week so far wheat prices are up 1 1/2 in SRW, up 1/2 in HRW, down 4 1/2 in HRS; Corn is down 8 3/4; Soybeans down 7 1/2; Soymeal down $1.30; Soyoil down 0.93.

Year-To-Date nearby futures are down 2.9% in SRW, down 4.6% in HRW, up 4.2% in HRS; Corn is down 5.1%; Soybeans up 3.6%; Soymeal down 4.1%; Soyoil up 15.5%.

Chinese Ag futures (JUL 25) Soybeans up 11 yuan; Soymeal down 27; Soyoil up 16; Palm oil up 94; Corn down 13 — Malaysian Palm is up 54.

Malaysian palm oil prices overnight were up 54 ringgit (+1.39%) at 3932.

There were changes in registrations (-82 HRW Wheat). Registration total: 193 SRW Wheat contracts; 0 Oats; 78 Corn; 242 Soybeans; 863 Soyoil; 823 Soymeal; 516 HRW Wheat.

Preliminary changes in futures Open Interest as of June 2 were: SRW Wheat up 389 contracts, HRW Wheat up 1,893, Corn down 8,414, Soybeans up 4,106, Soymeal up 1,387, Soyoil down 6,880.

 

DAILY WEATHER HEADLINES: 02 JUNE 2025

• NORTH AMERICA: Modest temperatures are expected across most U.S. spring crop regions during the next two weeks, as a lack of heat continues to be depicted across most model runs
• SOUTH AMERICA: Heavy rainfall is expected in Southern Brazil during the next 10 days, barring Rio Grande do Sul which will be drier than normal during this time
• EAST ASIA: Warmth will dominate the weather pattern across China during the next two weeks, barring the North and Northeast which will be closer to normal during this time
• EUROPE: Shifting warmth will bring well above normal temperatures to much of Europe during the next two weeks

 

Northern Plains: Isolated showers Tuesday-Friday. Temperatures below normal Tuesday-Thursday, near normal Friday. Outlook: Isolated showers Saturday-Wednesday. Temperatures near to above normal Saturday-Wednesday.

Central/Southern Plains: Isolated to scattered showers through Friday. Temperatures near to below normal Tuesday, below normal Wednesday-Thursday, near to below normal Friday. Outlook: Isolated to scattered showers Saturday-Wednesday. Temperatures near to above normal Saturday-Wednesday.

Midwest East: Scattered showers Tuesday-Friday. Temperatures above normal Tuesday-Wednesday, near normal Thursday-Friday. Outlook: Isolated to scattered showers Saturday-Wednesday. Temperatures near normal Saturday-Monday, near to above normal Tuesday-Wednesday.

Midwest West: Scattered showers through Friday. Temperatures falling Tuesday, near to below normal Wednesday-Friday.

 

WARMTH WILL PREVAIL ACROSS MOST OF BRAZIL, WHILE THE PRECIPITATION PATTERN WILL BE MORE MIXED

What to Watch:

• Wet weather in parts of Southern Brazil
• Warmth to persist

 

The player sheet for 6/2 had funds: net buyers of 1,500 contracts of SRW wheat, sellers of 4,500 corn, buyers of 3,000 soybeans, sellers of 1,500 soymeal, and sellers of 3,000 soyoil.

 

TENDERS

• WHEAT PURCHASE: Egypt’s state grains buyer Mostakbal Misr in April agreed to buy around 180,000 metric tons of French wheat from two top European traders, trading sources said, in a sign of growing acceptance of the new entity by global suppliers. Mostakbal Misr bought two 60,000 metric ton cargoes from one firm and another similarly sized cargo from another, two trading sources with knowledge of the matter told Reuters, though they said delivery of the cargoes was facing delays.

 PENDING TENDERS

• RICE TENDER: The state purchasing agency in Mauritius issued an international tender to buy 8,000 tons of long grain white rice sourced from optional origins
• CORN TENDER: Algerian state agency ONAB issued a new international tender to purchase up to 120,000 metric tons of animal feed corn sourced from optional origins.
• BARLEY TENDER: Jordan’s state grains buyer issued an international tender to purchase up to 120,000 metric tons of animal feed barley.

 

 

 

TODAY

US Corn Used for Ethanol at 425.8M Bu in April

The following is a summary of US corn consumption for fuel and other products, according to the USDA.

• Corn for ethanol was 0.8% higher than in April 2024
• In total, mills consumed 475m bu of corn in April, a 0.7% increase over last year
• DDGS production fell to 1.63m tons

 

US Soybean Crushings at 202.4M Bushels in April: USDA

USDA releases monthly oilseed report on website.

• Crushing 14% higher than same period last year
• Crude oil production 14.6% higher than same period last year
• Crude and once-refined oil stocks down 14.5% y/y

 

US Inspected 1.576m Tons of Corn for Export, 268k of Soybeans

In week ending May 29, according to the USDA’s weekly inspections report.

• Soybeans: 268k tons vs 200k the previous wk, 361k a yr ago
• Corn: 1,576k tons vs 1,419k the previous wk, 1,416k a yr ago
• Wheat: 553k tons vs 563k the previous wk, 427k a yr ago

 

Brazil 2024/25 Corn Crop Est. Raised to 128.5m Mt: AgRural

Compares with an April forecast of 124.8 million metric tons, consulting firm AgRural said in an emailed report.

• Increase was driven by higher yields expected for the winter crop
• Winter corn harvest was 1.3% completed as of May 29, which compares with 0.9% a week earlier, and 4.7% done a year before
• 2024/25 soybean output estimate was raised by 1.3 million mt to 169 million mt

 

Brazil 2024/25 second corn crop seen at 106.1 mln tons vs 104.3 mln tons in previous forecast – StoneX

• BRAZIL 2024/25 SOYBEAN CROP SEEN AT 168.25 MILLION TNS – STONEX
• BRAZIL 2024/25 SECOND CORN CROP SEEN AT 106.1 MILLION TNS VERSUS 104.3 MILLION TNS IN PREVIOUS FORECAST – STONEX
• BRAZIL 2024/25 TOTAL CORN CROP SEEN AT 134 MILLION TNS VERSUS 132.4 MILLION TNS IN PREVIOUS FORECAST – STONEX

 

Farmers complete 81% of sowing campaign in Kazakhstan

Farmers in Kazakhstan have planted crops on 19.1 million hectares, which is 80.59% of the total area to be sown this year, the Agriculture Ministry said in a press release.

This includes over 14.3 million ha under grain, 880,800 ha under forage crops, 119,200 ha under vegetables, 115,000 ha under potato, 85,100 ha under melons, 3.1 million ha under oil-bearing plants, 141,600 ha under cotton, 17,800 ha under sugar beet and 91,700 ha under rice.

In the main grain-producing regions, 4.9 million ha has been planted with grain in the Akmola region, 4.7 million ha in the Kostanay region and 3.5 million ha in the North Kazakhstan region.

The total area under crops in Kazakhstan this year totals 23.7 million ha or an increase of 413,000 ha compared to last year.

 

US Corn, Soybean, Wheat Inspections by Country: May 29

Following is a summary of USDA inspections for week ending May 29 of corn, soybeans and wheat for export, from the Grain Inspection, Packers and Stockyards Administration, known as GIPSA.

• Soybeans for China-bound shipments made up 65k tons of the 239k total inspected
• Mauritania was the top destination for corn inspections, South Korea led in wheat

 

Australia forecasts wheat output down 10% on dry conditions; barley, canola also hit

Australia’s wheat production is projected to drop 10% this year to 30.6 million metric tons, with barley and canola output also expected to fall due to dry conditions across several cropping regions, the agriculture ministry said.

Nevertheless, production is expected to remain well above the 10-year average, the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) said in a quarterly crop report.

Australia is one of the world’s biggest agricultural exporters.

Low soil moisture in southern New South Wales, Victoria, South Australia, and the northern wheat belt of Western Australia led some farmers to reduce planted area, and dry-sown crops now depend on June rainfall to germinate and establish, ABARES said.

Conditions are significantly better in Queensland, northern New South Wales and southern parts of Western Australia, and forecasts point to above-average winter rainfall across most cropping regions.

“However … it will be crucial for forecast rainfall to be realised to meet current yield projections,” ABARES said.

Barley production is set to fall 3% to 12.8 million tons this year and canola output to shrink 6% to 5.7 million tons, according to ABARES.

Australia produced an average of 27.6 million tons of wheat, 11.8 million tons of barley, and 4.8 million tons of canola annually in the 10 years to 2024/25, government data show.

Australian farmers are expected to plant 12.6 million hectares of wheat this year, down 3% from last year, 4.7 million hectares of barley, up 2% from year-ago levels, and 3.4 million hectares of canola, down 1% year-on-year, ABARES forecast.

Median forecasts from a Reuters poll of analysts last month projected that the wheat planted area would remain unchanged, barley would expand by 2%, and canola would decline by 5%.

Analysts’ forecasts for Australian wheat production ranged from 28 million tons to 34 million tons.

In other crops, ABARES said Australian lentil production should rise 17% to 1.5 million tons this year, while chickpea output is likely to drop 17% to 1.9 million tons.

 

Egypt’s new grains buyer struck rare deal for French wheat, sources say

Egypt’s state grains buyer Mostakbal Misr agreed in April to buy around 180,000 metric tons of French wheat from two top European traders, trading sources said, in a sign of growing acceptance of the new entity by global suppliers.

Mostakbal Misr bought two 60,000 metric ton cargoes from one firm and another similarly sized cargo from another, two trading sources with knowledge of the matter told Reuters, though they said delivery of the cargoes was facing delays.

The private agreement, which has not been previously reported, is one of the few instances Mostakbal Misr has been able to secure cargoes for Egypt’s massive bread subsidy programme directly from global suppliers. Those suppliers have been hesitant to deal with the little-known military agency, traders say.

Egypt is one of the world’s top wheat importers, buying about five million tons from abroad on average. For decades, the General Authority for Supply Commodities (GASC), a civilian agency that is part of the supply ministry, imported wheat and vegetable oils through international tenders.

Since Mostakbal Misr took over the import of major commodities in December, it has relied on local importers to act as intermediaries on purchases.

Its lack of experience dealing with global commodity traders contributed to early teething problems, said one of the sources.

“Global traders were asking for a commercial registry or a tax card so that risk departments would approve any deals with them but that was not provided,” the source said. “That’s why local importers came in as intermediaries.”

If the deals can be successfully concluded it would mark a breakthrough for Mostakbal Misr, but the sources, both of whom spoke on condition of anonymity because of the sensitivity of the matter, said there had been delays in opening letters of credit to pay for the shipments, as well as in assigning freight to transport them.

Traders said at least some of the volume was expected to be loaded in May, and the rest in June.

The second source said the two cargoes were sold at a price of $246 per ton for immediate, “at sight” payment, while the third cargo was sold for $256 per ton with deferred payment via 180-day letters of credit.

Egypt’s supply ministry and Mostakbal Misr did not respond to requests for comment.

Suppliers went ahead with the deal as a result of weak global demand, especially for French wheat which has been impacted by a spat with Algeria, the first source said.

The deal coincided with a visit by French President Emmanuel Macron to Egypt in April. Reuters could not determine if the deal was connected to the visit.

The sales to Egypt could be a boost for French wheat exports after a dire spell marked by a poor harvest and diplomatic tensions with Algeria, though the absence of any loadings in May has created uncertainty in the market over the deals.

France exports wheat only occasionally to Egypt, with its previous shipments dating back to July last year.

The European Union’s biggest wheat producer generally struggles to compete against Black Sea suppliers like Russia and Romania that dominate the Egyptian import market.

But traders say a drop in French prices this year coupled with increased Black Sea prices created an opportunity.

Bulgarian wheat that Mostakbal Misr bought directly in a similar deal earlier this year was successfully shipped.

“This time is more serious than others. They are dealing with big international suppliers directly,” said the second source. “We are waiting to see how this deal is going to be executed.”

Mostakbal Misr is currently holding talks for the purchase of Bulgarian and Romanian wheat.

 

Morocco Wheat Imports Rise to 6.05M Tons in Year Through May

Imports for June 1 2024 to end-May 2025 were 9.4% higher than the 5.53m tons recorded for previous 12-month period, according to data from grain traders group FNCL.

• Soft wheat imports 4.97m tons vs 4.6m tons in June 2023-May 2024:
  • France and Russia exported 1.53m tons and 0.92m tons respectively
• Corn imports rose to 2.96m tons vs 2.61m tons:
  • Brazil and Argentina exported 1.52m tons and 0.73m tons respectively
• Durum wheat imports rose to 1.08m tons vs 0.93m tons:
  • Canada accounted for the bulk with 1.03m tons
• Barley imports eased to 856,604 tons from 1.5m tons:
  • France exported 0.39m tons and Romania about 0.1m tons

 

Malaysia May Palm Oil Exports Rise to 1.231m Tons: AmSpec

Malaysia’s palm oil exports rose to 1.231m tons in May from 1.087m tons in April, according to AmSpec Agri.

• Palm oil exports rose 13.21% m/m

 

WHEAT/CEPEA: Liquidity is low; prices move down in May

Wheat trades moved at a slow pace in the spot market in May. Purchasers closed only some deals, keeping values below those expected by sellers. Producers, in turn, were focused on crop activities and limited the volume offered.

In May, the price gap was high; however, the progress of planting activities in Brazil, the possible record crop (in global terms) and the projection of the production in Argentina ended up pressing down values and resulting in a decrease of monthly quotations.

In May, the monthly average of wheat prices in Paraná was BRL 1,548.86 per ton, for a decrease of 1% against April/25, but upping 2.3% in relation to that in May/24, in real terms (IGP-DI). In Rio Grande do Sul, the average was BRL 1,407.93/ton, 4.2% smaller in one month and +0.9% in one year. In São Paulo, prices averaged BRL 1.604.06/ton, -3.9% and -1.9% in the same comparisons. As for Santa Catarina, the average was BRL 1,462.33/ton in August, moving down 1.1% compared to April and 5.6% against that in the same month last year.

According to data from Cepea, between May 23 and 30, the prices paid to wheat farmers (over-the-counter market) remained stable in Santa Catarina, but decreased 0.2% in Paraná and 0.18% in Rio Grande do Sul. In the wholesale market (deals between processors), values moved down 0.94% in Paraná, 0.18% in São Paulo and 0.4% in Rio Grande do Sul, but upped 1.8% in Santa Catarina.

 

Brazil rules out bird flu case on a commercial farm in Rio Grande do Sul state

Test results for a suspected bird flu outbreak on a commercial farm in the town of Anta Gorda in Rio Grande do Sul state came back negative, according to an analysis of samples released by the Brazilian Agriculture Ministry on Monday.

That was the only potential case currently under investigation on a commercial farm in Brazil, the world’s largest chicken meat exporter.

The results were negative for both bird flu and Newcastle disease, the document showed. Both these diseases may trigger trade bans.

The first case of bird flu on a commercial farm in Brazil was also in Rio Grande do Sul state, on May 16.

On May 22, Brazilian authorities declared a 28-day bird flu observation period following the full disinfection of the farm where the first outbreak was detected.

In the days following the first case in Brazil, 1.7 million eggs were destroyed in Rio Grande do Sul, according to the state’s department of agriculture.

Teams that run the farm where bird flu was detected, buried waste that had first been incinerated to prevent the spread of the virus. The virus killed around 15,000 birds and the farm culled an additional 2,000.

Brazil hopes that by the end of the observation period the country’s chicken farms can be free of bird flu disease, provided no new cases are confirmed.

Controlling the outbreak would allow Brazil to resume trade with partners that have suspended chicken imports from the country, such as China and the European Union, after the first and only outbreak was confirmed.

 

 

 

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