Farmers in Western Australia will swing to canola from wheat and plant less land than last year as they grapple with concerns over the availability and cost of fuel and fertilizer.
Canada spring wheat bids were mostly lower during the week ended April 14, as strength in the Canadian dollar and mixed activity in the United States futures weighed on values.
There was very little change in the April supply and demand estimates from the United States Department of Agriculture on April 9, with the report essentially being a carbon copy of the March estimates.
Demand is ongoing and prices are slowly rising for feed grains despite the war in Iran, said Brandon Motz, owner and manager of CorNine Commodities in Lacombe, Alta.
Australian farmers are expected to favour less nitrogen-intensive crops such as barley over wheat and canola in the upcoming season due to rising fertilizer and fuel costs.
Cash prices for Western Canadian wheat and durum were stronger during the week ended March 31, pushed higher by large gains in the United States wheat complex.
Declines in projected planting intentions for 2026/27 were not as big as the market expected, after the United States Department of Agriculture released its estimates on March 31. The USDA also issued its quarterly grain stocks report with stocks for soybeans bigger than anticipated, while those for corn were smaller and wheat virtually matched the average trade guess.