Chicago Close: Grains Weaken as Oil Slips, Weather Steady

Market news
June 30, 2025
Corn and soybean futures ended modestly lower on Monday, pressured by softening crude oil values and stable Midwest crop conditions. Wheat futures were mixed. 

Crude oil eased as concerns over a potential escalation in Middle East tensions waned. While geopolitical risk had lent support earlier, the market refocused on ample global supplies and sluggish demand indicators. Corn and soybeans faced further headwinds from favourable US weather, with forecasts calling for moderate rain and seasonal temperatures across much of the Corn Belt. Soil moisture remains adequate ahead of the critical reproductive stages. 

September corn slipped 2 ¼ cents to $4.09 ¼, and December dipped 1 ½ cents to $4.25 ½. August soybeans lost 3 ½ cents to $10.29 ¾, while November edged up 2 ¼ cents to $10.27. 

Wheat futures posted mixed results. Chicago contracts sagged slightly, Kansas City weakened further, while Minneapolis held steady. The US winter wheat harvest continues to advance, and better weather this week should aid progress. Global fundamentals also added pressure, with large Russian and Ukrainian production estimates still weighing on sentiment. September Chicago wheat fell 2 ½ cents to $5.38 ¼, September Kansas City declined 7 cents to $5.26 ¾, and September Minneapolis was unchanged at $6.25. 

Source: DePutter Publishing Ltd.

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