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Wheat Market Continues To Show Promise

The Alberta Wheat and Barley Commissions have been holding their Regional Meetings over the last couple of weeks.
 
Jonathon Dreidger with Leftfield Commodity Research is giving the market presentation at the meetings.
 
He says we're seeing good movement and strong demand for Canadian Wheat this year.
 
"For 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.
Now we got off to a notoriously slow start last year, and we ended with a bang. It does show just how aggressively we've been moving wheat and
some other commodities through the first part of this year and how good that early season export demand has been for Canadian Wheat."
 
Wheat production is essentially flat making the global stock situation a little tighter.
 
He notes Russia and Australia have seen an increase in wheat production but wheat crops are smaller this year in the Ukraine, E-U, and Argentina.
 
According to Dreidger we have a large durum crop and good export demand.
 
"Actually our expectation here is that 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 and so kind of our base scenario is about 5.7 million tonnes."
 
He believes we could still see some upside for durum prices.
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