3 Big Things Today, March 18, 2025

1. Wheat Futures Higher in Overnight Trading

Wheat futures were higher in overnight trading amid worries about dry weather and deteriorating crop conditions in the U.S. southern Plains.

About 28% of Kansas, the biggest producer of winter wheat, was suffering from drought conditions as of March 11, according to the U.S. Drought Monitor. That’s up from 25% a week earlier. 

Forty-eight percent of the Kansas hard red winter wheat crop was rated good or excellent as of Sunday, down from 52% a week earlier, the U.S. Department of Agriculture said in a report yesterday. 

Topsoil moisture in the state was 53% adequate or surplus, down from 60% the previous week. Subsoil moisture was 52% adequate or surplus, down from 57%, USDA said. 

Dry, windy conditions are forecast for the southern Plains this week. 

Winds in southwestern Kansas and the Oklahoma and Texas panhandles will be sustained from 30–40 mph this afternoon and gust up to 65 mph, the National Weather Service said. 

Relative humidity will drop as low as 6%, the agency said. 

“High-end critical to extremely critical fire weather conditions are expected areawide today with the higher fire weather threat across the southeastern two thirds of the combined panhandles,” NWS said. 

Wheat futures for May delivery rose 2¢ to $5.70½ a bushel overnight on the Chicago Board of Trade, while Kansas City futures gained 3¢ to $6.08½ a bushel. 

Corn futures dropped 4¢ to $4.57 a bushel. 

Soybeans for May delivery were down ¼¢ to $10.15¼ a bushel. Soymeal fell $1.50 to $302.80 a short ton, and soy oil rose 0.23¢ to 42.33¢ a pound.

2. Weekly Soybean, Corn Inspections Decline

Inspections of U.S. soybeans and corn for overseas delivery declined week to week while wheat assessments improved, according to data from the Ag Department.

Soybean inspections in the seven days that ended on March 13 fell to 646,667 metric tons, the agency said. 

That’s down from 853,645 tons the previous week and the 700,245 tons that were examined during the same week a year earlier. 

Corn assessments dropped to 1.66 million metric tons from 1.84 million tons the week prior, USDA said. Still, that’s higher than the 1.33 million tons inspected at the same point last year. 

Wheat inspections, meanwhile, rose to 492,658 metric tons from 241,646 tons the previous week and 394,479 tons in the same week in 2024. 

Since the start of the marketing year on Sept. 1, USDA has inspected 39.1 million metric tons of soybeans for export, up from 35.8 million tons during the same timeframe a year earlier. 

Corn inspections since the beginning of September now stand at 30.8 million metric tons, up from the 23.2 million tons that were inspected in the same period last year, the agency said. 

Wheat assessments since the start of the grain’s marketing year on June 1 are now at 16.4 million metric tons, up from 13.9 million tons at the same point a year ago, USDA said in its report. 

3. Blizzards Expected From Kansas to Minnesota

Blizzard warnings have been issued for a large chunk of land stretching from western Kansas northeast into southern Minnesota, according to National Weather Service maps.

As much as 4 inches of snow is expected in west-central Kansas starting late tonight, the agency said. Winds will be sustained from 35–45 mph and gust up to 70 mph. 

Travel conditions will be “dangerous or impossible.” 

In northwestern Iowa, 2–10 inches of snow are forecast with wind gusts up to 65 mph. 

“The strong winds and weight of snow on tree limbs may down power lines and could cause sporadic power outages,” the agency said. “Whiteout conditions are possible and may make travel treacherous and potentially life-threatening.”

Extremely dry weather is forecast for parts of Texas, Oklahoma, Kansas, and Missouri where red flag warnings have been issued.