Wheat Market Outlook - March 9, 2026

MARKET OUTLOOK - WHEAT Wheat futures had a strong showing this past week and have translated into some higher value targets being picked up for wheat across the Prairies. Iranian conflict shaking up markets all around including energies and agriculture. Risk premium had been put into ag markets on the conflict and will trade accordingly. The region is a large net importer of wheat, and markets might look to see if there will be any potential stockpiling or shifting of demand into the region. Canadian wheat domestic price targets are being triggered at levels not seen yet since the crop was initially available to the market in September. Markets will be watching precipitation forecasts more from here on for the growing regions of northern hemisphere crops. The crops in these regions are believed to have escaped the worst of the winterkill scenarios mid-January. Some drought issues in the U.S. winter wheat growing region and some mixed state-by-state analytics in the periodical updates provided on the overwintering crop. Canadian wheat has been doing a good job at maintaining its competitiveness in the global market but will need to be cognizant to remain to remain competitive going forwards.MARKET OUTLOOK - DURUM Price outlook overall for durum appears relatively flat as it has been for much of the marketing year for western Canadian producers. Markets are focused on how Canadian and global ending stocks will shake out for durum and how the North African, Mediterranean and European crop prospects appear over the coming months. As of right now, all reports show favourable conditions for the cropping regions with reports of very few issues in these areas so far. North African regions have received good winter rainfall, and the crop prospect is positive for now in many key production areas. The market will also turn attention to Canadian prairie agroclimatic closer to spring. 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/