Market Outlook – Wheat
Global wheat export values have stabilized in the European / Black Sea regions on lack of farmer selling and degradation of wheat pushing some of the wheat quantities in the regions into the feed or sub optimal milling qualities. North American values are firming up as well.
North American Spring Wheat harvest
- This week there are some scattered showers in the prairie provinces and northern United States. There will be some good harvesting time in between these small systems, and we will begin to get a good representative sample of S. spring wheat quality and quantity. Canadian spring wheat still needs some time. Barley and pulse crops are first priorities for most producers.
Market Outlook – Durum
Prairie crop size and quality will be very closely watched and will influence market direction. Export demand is anticipated to be lower from Canada due to the better European crop and lack of major production issues in the North African crop. Sask Ag reporting an increase in durum crop conditions for Saskatchewan in what was to be their last crop conditions report prior to harvest. Quality and yield will be the market drivers in durum as Canadian harvest is next up on the docket. At this point in the crop season, we would like to see crop quality and quantity before making next sales on the new crop. Quality will be understood shortly.
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