Canadian Wheat Prices Swing Amid Weather and Geopolitical Uncertainty
Canadian wheat prices saw mixed sentiment on Wednesday due to weather and geopolitical issues. Statistics Canada reported that 2026-27 all wheat production is expected to be lower than average trade estimates, at 36.1 million tonnes compared to last year's 40.6 million tonnes. The country's spring wheat production declined by 3.2 million tonnes to 26.5 million, while durum wheat decreased by 888,000 tonnes to 6.4 million.
Ukraine's agriculture ministry projected a reduction in winter wheat for 2027, with an estimated 4.5 million hectares compared to last year's 4.7 million. FranceAgriMer revised its forecast of French wheat exports outside the EU downward by 700,000 tonnes to 6.3 million and within the EU by 300,000 tonnes to 7.1 million.
Corn prices also fell on Wednesday after a two-day rally. Statistics Canada estimated that corn production for 2026-27 will reach a record 16.5 million tonnes, surpassing last year's 14.9 million tonnes. Meanwhile, soybean production is expected to rise by 7.5 million tonnes this season.