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Good Movement & Demand For This Year's Wheat Crop

We've seen good movement and demand for this year's wheat crop.
 
Jonathon Driedger with LeftField Commodity Research says in the first 14 weeks of the crop year, Canada has exported over a million tonnes more non-durum wheat than we did at this time last year.
 
When it comes to durum we have a large crop and good export demand but he thinks we could still see some upside for durum prices.
 
"Our expectation here is we're going to have record large durum exports for the year. Big shipments to Europe. We expect movement to the U.S. is going to be up."
 
Wheat production is essentially flat making the global stock situation a little tighter.
 
Driedger adds Russia and Australia have seen an increase in wheat production but wheat crops are smaller this year in the Ukraine, the European Union, and Argentina.
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Increased Geo Political Tensions = SELL AMERICA TRADE + Argentina Dry

Video: Increased Geo Political Tensions = SELL AMERICA TRADE + Argentina Dry


Higher geo-politics from Trump wanting to annex Greenlland to conflict with Iran has caused investors to sell everything America. With Matto Grosso Brazil 7% harvested weather has turned wet as harvest progresses but Argentina has turned dry! Both soybean and wheat futures have traded back above the pre-USDA January crop report close a positive technical chart signal. A monster weekly U.S. export report is price supportive but a kick the can down the road on E15 is very disappointing.