There was very little change in the April supply and demand estimates from the United States Department of Agriculture on April 9, with the report essentially being a carbon copy of the March estimates.
Demand is ongoing and prices are slowly rising for feed grains despite the war in Iran, said Brandon Motz, owner and manager of CorNine Commodities in Lacombe, Alta.
Declines in projected planting intentions for 2026/27 were not as big as the market expected, after the United States Department of Agriculture released its estimates on March 31. The USDA also issued its quarterly grain stocks report with stocks for soybeans bigger than anticipated, while those for corn were smaller and wheat virtually matched the average trade guess.
As China heads into the 2026/27 marketing year, the United States Department of Agriculture attachés in Beijing projected a few minor to moderate changes in the country’s soybean, canola, corn and wheat crops.
To analyst Tom Lilja of Progressive Ag in Fargo, N.D., there’s a difference in the commodity markets currently with the Middle East war and four years ago when Russia invaded Ukraine.
Updated supply/demand estimates from Agriculture and Agri-Food Canada, released March 18, included only minor adjustments, as the agency incorporated the latest acreage forecasts from Statistics Canada released earlier in the month.
Canada spring wheat bids were mixed during the week ended March 17, as the United States futures traded in a wide range and the Canadian dollar weakened. General uncertainty in the world markets due to the escalating conflict in the Middle East accounted for some of the choppiness in the wheat market.
As Egyptian wheat imports in 2026/27 are expected to remain relatively steady from the previous marketing year, the country’s wheat production is projected to bump up, the United States Department of Agriculture attaché in Cairo reported on March 12.