Prices for wheat futures fell on three exchanges as USDA analysis showed a rise in harvest collection and a decrease in wheat crop forecast in Ukraine.

On Tuesday, June 3, 2025, future wheat harvest contracts decreased on three exchanges. Prices for soft red winter wheat in July on the Chicago Board of Trade (CBOT) fell to $196.94 per ton, on the Kansas City Board of Trade (KCBT) July hard red winter wheat futures dropped to $197.22 per ton, and on the Minneapolis Grain Exchange (MGEX) July contracts for hard red spring wheat fell to $227.07 per ton.

SRW wheat futures prices in Chicago closed at $5.36, down 3 cents. While HRW July futures in Kansas City dropped to $5.36 3/4, losing 3 cents. July contracts for spring wheat in Minneapolis ended at $6.18, down 9 ¼ cents.

The USDA's weekly crop progress report showed that winter wheat harvest is on average and is complete on 3% of the area.

Spring wheat plantings in the US are already 95% complete, with an average of 90%. Germination rates have reached 73%, which is 4% below the five-year average. Planting conditions rated "good/excellent" increased by 5% to 50%.

The Ukrainian Minister of Agriculture predicts a wheat harvest in the country of 20-22 million tons, lower than USDA's initial estimate of 23 million tons.

According to the data, EU soft wheat exports from July 1, 2024, to June 1, 2025, amounted to 19.13 million tons, lower than the previous year's figure of 28.76 million tons.

Corn futures prices increased on Tuesday. July corn contracts closed at $4.38 1/2, up ¼ cent. December corn futures closed at $4.38 1/2, up 2 ¾ cents.

Data from the USDA showed that corn planting in the US is 93% complete as of June 1, in line with the five-year average, with a germination rate 1% above average at 78%.

The Ukrainian Minister of Agriculture's forecast for corn production in the country is 26 million tons, lower than USDA's initial estimate of 30.5 million tons.

Corn exports from the EU for the period from July 1, 2024, to June 1, 2025, amounted to 18.2 million tons, exceeding the previous year's figure of 17 million tons.

Soybean prices rose slightly on Tuesday. July soybean futures closed at $10.40 3/4, up 7 ¼ cents. November soybean futures closed at $10.21 1/2, up 4 ½ cents.

The market was supported by the announcement of President Trump and Chinese President Xi's plans to hold negotiations later this week.

Data from the USDA showed that soybean planting in the US is 84% complete, 4 percentage points above the five-year average.

Soybean exports from the EU for the period from July 1, 2024, to June 1, 2025, amounted to 12.94 million tons, slightly exceeding the previous figure of 12.13 million tons.

On the Chicago Board of Trade (CBOT) on June 3: wheat (July 2025) - $196.94/ton (15580 rubles/ton) - down 0.56%; corn (July 2025) - $172.64/ton (13660 rubles/ton) - up 0.06%; soybeans (July 2025) - $382.40/ton (30260 rubles/ton) - up 0.70%; rice (July 2024) - $645.52/ton (51080 rubles/ton) - down 1.50%; rapeseed (ICE, July 2025) - $698.70/ton (40190 rubles/ton) - up 1.73%.

The French wheat market showed a slight decrease on Monday. September prices for milling wheat on the MATIF Paris exchange fell to €202.00 per ton (equivalent to $231.17), December wheat futures fell to €213.25 per ton. Corn prices in August declined to €191.50 per ton (equivalent to $219.15), and for November corn to €197.50 per ton.

On the MATIF Paris exchange on June 3, the closing prices were as follows: milling wheat (September 2025) - $231.17/ton (18290 rubles/ton) - up 0.60%; corn (Aug. 2025) - $219.15/ton (17340 rubles/ton) - down 0.07%; sunflower (SAFEX exchange, July) - 8982.00 zar/ton (39730 rubles/ton) - down 0.16%; sunflower oil (June 3, 2025, Rotterdam, FOB) - $1215.00/ton (96140 rubles/ton).

Exchange rates on June 3, 2025: 79.1285 rubles per US dollar, 90.3770 rubles per euro, 57.5145 rubles per Canadian dollar, 44.2330 rubles per 10 South African rand.