Wheat Market Outlook - June 23, 2025

According to Mercantile, the weather and political uncertainty are supportive for the markets. The market is watching the dry conditions in Russia and the EU. Meanwhile, estimates for Russia’s wheat crop remain big. Mercantile says there was good tender business last week, but the results continue to signal strong supplies in the Black Sea and Balkans. Meanwhile, spring wheat crops in the Northern Hemisphere, especially Canada, are facing weather challenges. Mercantile would not sell wheat for now.