As China heads into the 2026/27 marketing year, the United States Department of Agriculture attachés in Beijing projected a few minor to moderate changes in the country’s soybean, canola, corn and wheat crops.
Canada spring wheat bids were mixed during the week ended March 17, as the United States futures traded in a wide range and the Canadian dollar weakened. General uncertainty in the world markets due to the escalating conflict in the Middle East accounted for some of the choppiness in the wheat market.
Brazil’s massive soybean crop may be grabbing the headlines, but there should be more attention on the difficulties with the country’s corn crop, said analyst Michael Cordonnier of Soybean and Corn Advisor Inc.
To Darcy Haley, vice-president of Ag Value Brokers in Lethbridge, there are two main reasons for recent increases for feed barley and wheat. Haley said on March 12 that there’s an ongoing lack of farmer selling, plus stiff competition from the grain companies looking to export barley.
Manitoba farmers won’t be too inclined this spring to switch from planting cereals and oilseeds to soybeans or pulses, despite recent hikes in fertilizer prices said an official with Manitoba Agriculture.
As spring planting approaches, farmers are busy planning which crops to seed this year and how much. With that, market thoughts have turned toward planted area projections, as Statistics Canada is set to issue its report on Thursday.
There are a number of unknowns that could affect where soy, corn and wheat prices go on the Chicago Board of Trade, said Sean Lusk, vice-president of Walsh Commercial Hedging Services.