Wheat Market Outlook - April 7, 2025

According to Mercantile, dryness in the U.S. winter wheat belt is supportive, but politics are weighing on U.S. futures. Mercantile adds that Canada is well positioned to service additional demand if buyers (especially from Asia) choose to switch from the U.S. in retaliation to the U.S. tariffs. Canadian cash prices should remain strong in Mercantile’s opinion, but this might have to come from stronger basis levels if U.S. futures remain depressed. Mercantile expects markets to remain volatile with Trump as president. Mercantile would continue to hold sales for now.