MARKET OUTLOOK – WHEAT

Western Canadian cash wheat bids lost $1 per tonne week over week but remain in the trading range for cash values we have seen since late November. Western Canadian bids for producers have been quite steady overall with limited moves to the upside. Basis has been found to strengthen when futures weaken in Central SK values. Producers continue to fill the system with wheat around these values as producer deliveries and exports continue at a steady pace, although slightly behind where we were heading into the new year. Canadian wheat has been doing a good job at maintaining itscompetitiveness in the global market and will need to do so to move out our larger inventories. The market sits comfortably for the time being but will begin to shift its focus onto winter wheat conditions in the Black Sea, European Union and United States in the coming months. Aside from this, demand drive is what the market will need to see to chew away at some of the increased stocks that are being presented as Argentina and Australia wrap up their harvests. For Western Canadian wheat values, we are anticipating a neutral outlook for the coming weeks ahead as we currently sit in a demand driven market. Producers may want to pencil the Feb. 6, 2026, Stocks of Principal Field Crop Acres Report into their calendars. The report will be the next large fundamental CDN data available for markets to trade upon.

MARKET OUTLOOK – DURUM

Price outlook overall for the crop appears relatively flat as has been for much of the marketing year for western Canadian producers. Algeria’s tender for durum helps chew up a few more tonnes of Canadian durum. Stocks are higher than the year prior in Canada / globally and exports are strong vs where anticipations were at the beginning of the season. Turkey has turned into a net importer of durum grain, and we will need to see how demand into some of our key players forecasts out. Markets are focused on how Canadian and global ending stocks will shake out for durum and, plus how the North African and Mediterranean, European crop prospects appear over the coming months. Right now, we are in a demand driven market with limited production news to send market in either direction.

If readers are interested in a comprehensive listing of 2026 major report release dates. Follow the link attached. https://exceedgrainmarketing.com/2026-global-major-report-release-calendar/