Market Outlook - What to Watch with Wheat

North American Spring Wheat harvest

• A dry stretch of weather in the Prairie provinces is expected this week which will help push crop maturity as we begin the last week of August. The U.S. crop is over half off and the story will be well-known on the crop shortly. Limited issues arising so far in the North Dakota, Montana and Minnesota crop leaving few surprises to the market so far.

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 is 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 the 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. Early harvest of durum is just underway, but more will be known within the next 10 days.