Wheat Market Outlook - January 5, 2026

MARKET OUTLOOK – WHEAT Cash wheat bids across western Canada begin 2026 in a similar spot to where they ended out the late December trade. Similar cash bids are being shown to producers and producers have been willing to sell into these markets as exports continue to move out of the nation at a speedy pace. Strong export demand continues to entice product in the system at current levels. Western Canadian producers continue to ponder the crops they sell, and wheat has been a relatively quick to move crop for producers as delivery windows have been readily available. Globally, the wheat balance sheet looks heavier than it did just a few months ago but much of the increase in stocks has been anticipated for several weeks already. Russia, Argentina, Australia and Canada’s crops came in larger than initial market expectations, but the market has known this data for several weeks, even months in the cases of Russia and Canada. The crop prices overall have continued to be relatively flat as the market has not had to fight to find supplies. The next majorreports released will be the Jan. 12, 2026, USDA WASDE + FAS reports and Statistics Canada’s Feb. 6, 2026, report which will feature estimates on Dec. 31, 2025, crop inventories. MARKET OUTLOOK – DURUMAs we enter the new year, durum markets will get a better sense of how the crop marketing year could potentially finish off.  Algeria’s tender for durum helps chew up a few more tonnes of durum. Stocks are higher than the year prior in Canada and exports are strong compared to where anticipations were at the beginning of the season. Turkey has turned into a net importer of durum, and we will need to seehow demand into some of our key players forecasts out. We will also begin to get a full view of how Northern African and EU winter crops are shaping up in our 2026 forecasts. 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/