3 Big Things Today, March 20, 2025

1. Wheat Futures Decline in Overnight Trading

Wheat futures were lower in overnight trading on concerns about demand for U.S. goods as the dollar strengthens. 

The greenback was up 0.5% in overnight trading against a basket of its global counterparts. 

A stronger dollar makes U.S. goods less attractive on the global market. 

Investors are watching for the results of a call between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskyy to see if any progress was made on finding a peaceful end to the years-long war that began in February 2022 when Russian forces attack Ukraine. 

Trump said the meeting was “very good” and Zelenskyy said the call was positive. 

Ukraine is expected to be the fifth-largest exporter of wheat in the 2024-2025 marketing year that ends on May 31, according to the U.S. Department of Agriculture. 

Exports are forecast at 15.5 million metric tons, the agency said earlier this month. That’s down from a previous outlook for 16 million metric tons and the 18.6 million tons that were shipped a year earlier, USDA data show.

Wheat futures for May delivery fell 5¢ to $5.58 1/2 a bushel, while Kansas City futures lost 6¢ to $5.88 3/4 a bushel. 

Corn futures gained 1/4¢ to $4.62 1/4 a bushel. 

Soybeans for May delivery were down 4¢ to $10.04 1/4 a bushel overnight on the Chicago Board of Trade. Soymeal rose 20¢ to $297.90 a short ton, and soy oil lost 0.4¢ to 41.96¢ a pound.

2. Ag Departments Launch National Trade Day

The National Association of State Departments of Agriculture (NASDA) celebrated National Agriculture Trade Day yesterday in a bid to highlight the importance of ag trade to rural communities. 

“This day highlights the crucial role agricultural trade plays in boosting state economies and supporting farmers and ranchers while underscoring the need for policies that expand market opportunities and keep U.S. agriculture competitive,” NASDA said in a statement. 

Ag, food and related industries contributed 5.5% to U.S. gross domestic product and composed more than 10% of employment, the group said. 

One of the primary roles of state departments of agriculture is to promote products domestically and abroad, NASDA said. 

South Dakota Rep. Dusty Johnson submitted a House Resolution that emphasized the need for Congress and the administration to work together “to pursue effective food and agricultural trade policies” for the U.S.

3. Dry Weather Expected in Several Midwestern States

Red-flag warnings have been issued for several states including North Dakota, Nebraska and western Kansas, according to National Weather Service maps.

Winds in southern North Dakota and northern South Dakota will be sustained today from 20 to 25 mph and gust up to 35 mph, the agency said.

Relative humidity will fall to around 20%. 

In western Kansas and the Oklahoma and Texas panhandles, winds will gust up to 45 mph this afternoon, NWS said. 

Humidity will drop as low as 8%. 

“Elevated fire danger is expected,” the agency said. “Fires will catch and spread rapidly and erratically.”