While Statistics Canada reported more wheat was grown in 2024/25, canola production fell back as the agency issued its principal field crops report on Dec. 5.
Proposed tariffs imposed on Canadian and Mexican imports into the U.S. gave the Chicago Board of Trade a lot to think about during the week ended Dec. 4, 2024.
Of Australia's three largest winter crops for 2024/25, canola production was projected to be down from the previous year. Meanwhile, estimates for wheat and barley output were forecast to be higher than a year ago.
Spring wheat cash prices were higher for the week ended Nov. 21, but those from amber durum stepped back. Support came from higher United States wheat futures, that were pushed upward by heightened tensions in the Russia-Ukraine war. However, Prairie prices also felt the weight of a stronger Canadian dollar.
As the likelihood of tariffs loom over United States soybean, corn and wheat exports, that trio of commodities has been facing their share of pros and cons, said analyst Tom Lilja of Progressive Ag in Fargo, N.D.
There were a few tweaks to the latest monthly report from the United States Department of Agriculture released on Nov. 8. The World Agricultural Supply and Demand Estimates not only lowered yields for U.S. corn and soybeans, the department reduced the ending stocks for both.