News Update on the Canadian 2020 Wheat Shipments Off to a Good Start !!!

 

Shipments of Canadian wheat are off to a decent start with 937,000 mt loaded during the first two weeks of the crop year. Hopefully the opening of the new G3 terminal along with CN’s commitments of increased rail capacity will help keep wheat exports more lively this crop year.

While global ‘spring wheat’ production could be down slightly (depending on Canadian harvest results), overall world wheat stocks are growing, both in total (excluding China) and just for the seven major exporters. In addition, there are probably further increases in estimated crop forthcoming from Russia and Canada. This will make it tough to move prices higher, especially as Russian farmers are starting to move wheat into the market.

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Agriculture News Russia and World Grain News !!!