HEAT to Enter US Corn Belt...but nobody cares

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0:00 Corn Belt Heat
2:45 Bean Oil, Meal
6:07 Crop Ratings and Progress
8:35 Corn Shipments are Still Strong
9:50 NOPA Crush
11:06 Russia Wheat
12:09 Middle East Update

🌡️ Scorching Temps & Surging Soy Oil! 🚀

🔥 🌽 US Corn Belt Heats Up
Temps across the Corn Belt are expected to run 6.4°F above normal this week, according to GFS and CropProphet data. Highs in the 90s possible by Sunday! But don't panic—rainfall remains above normal in both the short and medium term. 🌧️ 

🛢️ 🌱 Soybean Oil Explodes Higher
Soybean oil futures 📈 hit a 20-month high and traded limit-up again Monday following the EPA's aggressive biofuel blending targets. Meanwhile, soybeans spiked but closed flat, and corn dropped ~10¢ on weather pressure. See updated charts for soybean oil and meal. 📊

🌾 Crop Conditions Update
✅ Corn: Rated 72% good-to-excellent (up 1%)
📉 Soybeans: Dropped to 66% good-to-excellent
📉 Winter Wheat: Fell to 52% G/E, despite being best for the week since 2020
✅ Spring Wheat: Climbed to 57% G/E—beating expectations again!
💡 Big moves seen in states like ND, TX, WI, MI, and NC. 

🚢 US Export Inspections
🌽 Corn exports: 1.7 mmt—near high end of expectations
🌱 Soybeans: Weak at just 215k mt
🌾 Wheat: Up on the week but still behind last year

🏭 May NOPA Crush Report
US soybean crush hit 192.8 million bushels—a May record 📅
🥫 Soybean oil stocks dropped to 1.4 billion lbs, the lowest May figure since 2004
📉 Both metrics came in under trade expectations. 

🌍 Russia Wheat Outlook Mixed
➕ Sovecon boosts forecast to 82.8mmt
⚠️ Rostov region declares agricultural emergency amid drought
🌾 Deputy PM sees 135mmt total grain output for 2025

🌍 Middle East Tensions Rise Again
President Trump has urged evacuation of Tehran. 🛫
Iran signals possible nuclear talks—but only if US avoids Israel conflict
Israel continues strikes. Analysts warn of major trade & oil disruptions if escalation continues.💥
Crude trades near $71/bbl—down from recent highs.

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