The Hightower Report said, “Wheat is showing strong gains this morning after finishing Friday at the lows of the week. Support is coming once again from food security concerns as President Trump has decided to blockade the Strait of Hormuz after negotiations with Iran fell apart over the weekend. Russia is warning the Middle East conflict could result in food shortages and is asking former Soviet states and BRICS members to cooperate in creating joint food reserves.” Mark Soderberg at ADM Investor Services said, “APK Inform lowered their Ukraine production forecast in 2026 to 19.9 mmt while cutting their export forecast 1.5 mmt to only 13 mmt. Russia’s Ag. Ministry slashed their export tax 41% to 329/roubles per ton.”