Wheat Market Outlook - April 7, 2026

MARKET OUTLOOK - WHEAT Wheat markets will be watching precipitation forecasts more from here on forwards for the growing regions of northern hemisphere crops. Better rainfall for parts of the U.S. winter wheat production region is in the forecast for Oklahoma and Kansas. As of right now, dryness in the United States is the most watched on the radar. Most of the Euro region and into the Black Sea are faring alright with some issues but nothing to raise major attention of markets. Ukraine’s southern region and Poland faring on the drier side. Canadian crop planting season still 3 weeks away from being planted in major fashion. Canadian wheat remains competitive for export into global markets but much of the business was done earlier and export pace relative to last year has been slipping. We are around 4 per cent ahead of last year's export pace vs 15 per cent earlier on in the crop marketing year. IGC’s latest estimates show a potential tightening of global supplies as consumption is anticipated to remain good for the upcoming season and crop yields are expected to return to normal levels after posting many record yields this past year. Producers can be moving some grain as we play with crop marketing year highs and should be cognizant of when they need to move their old crop wheat to the market. We will be in a full weather market for wheat beginning in about 1 months' time as Canadian planting will be underway and European and Black Sea and U.S. winter crops will be in moisture dependent stages.MARKET OUTLOOK - DURUM Price outlook overall for the crop appears relatively flat as has been for much of the marketing year for western Canadian producers. Some better exports recently have been noted. Morocco, Tunisia and Algerian durum crops anticipated to be in good shape and higher output once it becomes harvest time could lower import demand needs thereafter if realised. Watching this market closely as they are still in the growing season and important to be watching the agroclimatic from here on out but as of right now, things look quite favorable in the North African region, and the crops will begin harvest in 1 month. Markets are focused on how Canadian crop prospects will look once time to put that crop into the ground. Canada being the world's largest exporterdoes have a major influence on the market. If readers are interested in a comprehensive listing of 2026 major report release dates. Follow the link attached. https://exceedgrainmarketing.com/2026-global-major-report-release-calendar/