1. Wheat Futures Decline in Overnight Trading

Wheat futures experienced a notable decline overnight, driven primarily by abundant global supplies and a wave of technical selling. According to a recent USDA report, global ending stocks for the 2025/2026 marketing year are projected to reach 277.5 million metric tons, marking an approximate 7% increase compared to the previous year.

The production forecast for this year anticipates a rise to 841.8 million metric tons, up from last year’s figure of 800.4 million tons. Notably, speculative investors have amplified their net-short positions concerning both hard and soft red winter wheat, reflecting expectations of further price declines.

Despite the obstacles faced by the wheat market, U.S. wheat sales have surged since the beginning of the marketing year on June 1, with commitments from overseas purchasers increasing by 16% to reach 22.5 million metric tons. Accumulated exports thus far have also risen significantly, up 20% to 17.2 million metric tons.

On the Chicago Board of Trade, March wheat futures dropped 8¼¢ to $5.40½ per bushel, while Kansas City futures fell by 4½¢ to $5.38 per bushel. Corn futures dipped by 2¾¢ to $4.29 per bushel, and soybean futures decreased by 1¼¢ to $11.31¾ per bushel.

2. Iowa Ag Secretary Urges Improved Access to E15

On Monday, Iowa Secretary of Agriculture Mike Naig emphasized the necessity for the U.S. House’s Rural Domestic Energy Council to push for year-round availability of E15, an ethanol blend. Notably, E15 sales in Iowa surged by 44% to 256.7 million gallons in 2024, saving consumers over $65 million between 2023 and 2024.

Currently, over 1,100 fuel retailers in Iowa are selling E15—more than half of the state’s licensed commercial fuel retailers. Naig indicated that an additional 150 retailers are expected to upgrade their infrastructure and begin offering E15 by the end of 2026. He asserted that the increased sales of ethanol blends not only bolster corn demand but also stimulate economic growth in rural regions of the state.

“It’s time for Congress to make year-round E15 available nationwide so families and communities can enjoy the benefits,” Naig stated.

3. Dry, Windy Weather Forecast For Several States

The National Weather Service has issued red flag and high wind warnings for a substantial area from the Canadian border down through numerous states, including Nebraska, Kansas, Oklahoma, and Texas. Southern South Dakota and northern Nebraska are expected to experience sustained winds of 25-35 mph with gusts reaching up to 60 mph. Additionally, relative humidity levels are predicted to drop to around 13%.

In western Colorado and eastern Kansas, conditions will worsen with winds expected to range from 35-45 mph, and gusts reaching up to 65 mph. High winds may disrupt travel, particularly for high-profile vehicles, and could lead to property damage and power outages.

Critical fire weather conditions are anticipated for the southern Plains, with winds gusting up to 65 mph coupled with humidity as low as 8%. Individuals in the affected regions are advised to take precautions.