Russia dryness concerns foster wheat price recovery

Soybeans lead grains lower, as hopes fade of Chinese buying spree

• Signals from Trump visit to Beijing erode hopes for Chinese grain orders
• Soybeans, of which China is the top importer, particularly weighed
• Funds wrong-footed, after buying soy heavily
• Hopes for US Plains rainfall weigh on wheat too

Daily Markets

Wheat markets ease, as Wasde rethink encourages profit-taking

• Brent crude eases, as hopes for Iran peace take small step forward
• Wheat futures weighed by profit-taking, as Wasde data reassessed
• Russian and Canadian crops may have scope for upgrades, some say
• However, market underpinned by dire US harvest outlook

Daily Markets

Analysis of May USDA WASDE

Wheat prices soar, after the USDA forecasts this year’s US harvest at the smallest since 1972

Daily Markets

Wheat markets buoyed by firmer oil, but fund positions in focus

• Brent crude recovers, as Iran-US remain in deadlock over peace terms
• Wheat futures buoyed too. Fund positioning offers scope for buying
• US Plains weather remains mixed for winter wheat crops
• Market braced for key USDA Wasde report on Tuesday

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2026/27 major exporters' stocks/use

Analysis of May USDA WASDE

Global Crop Watch - Prairies sowings make slowest start in more than a decade

Weekly Oilseeds Outlook - USDA's key May Wasde report previewed

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Softer oil, hopes of better US weather depress wheat markets

• Brent crude falls for third session amid hopes for Iran peace deal
• Wheat futures fall too, weighed too by modest US export sales
• US Plains weather hopes depress high protein wheat particularly
• European prices shielded by French crop rating, UK stocks