Wheat Market Outlook and Prices

The Wheat Market Outlook is provided by Mercantile Consulting Venture Inc.

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World Wheat Overview:

Weather concerns about several wheat production areas are increasingly creeping into the discussions about wheat markets and their outlook.

  • The two pie charts today help put the relative importance of various producing countries with respect to overall production and exports into focus. In terms of production, The EU and FSU represent the single largest production areas, followed by South Asia and East Asia.
  • In terms of export market share, Russia has become the single biggest exporter this crop year, followed by the EU and the USA. At 11% of total world exports, Canada ranks 4th, followed very closely by Australia, the Ukraine and then Argentina. Current potential weather problems in the US, Argentina, Australia and some parts of the EU could potentially affect a significant amount  of wheat production.

world-wheat-production world-wheat-exports

 

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Wheat Market Outlook

Significant events:

  • Heavy rains in Australia were seen to be negatively affecting production, and yields in Argentina were less than forecast.
  • Canada did offer wheat to Irag, but the price of $303.50 was too high and did not trade. The price represents a huge premium to elevator bids.
  • La Nina could present a risk to Southern Hemisphere crops.

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Primary Elevator Bids

Due to a temporary issue, we are unable to include the tables for Primary Elevator Bids, Grade Spreads and FOB and Basis Prices on the web page. Please open the PDF file below for this information.

Primary elevator bids data source: PDQ

 

adobe-acrobat-pdf-file-512 CLICK HERE for the full report in PDF.

For the archived wheat market outlook and price reports, please CLICK HERE.