Wheat Market Outlook - May 19, 2026

MARKET OUTLOOK - WHEAT Markets are dealing with growing concerns for spring wheat planting delays in Russia and in the northern regions of the Canadian Prairies. Much anticipation as to how the coming two weeks shape up on the planting progress. The story in the United States remains the Hard Red Winter Wheat region with harvest set to begin shortly there in some of the most drought affected areas and we will begin getting some early harvest reports from the regions shortly. The U.S. wheat cropis forecasted as being the smallest since 1972, and the drop in 2026/27 wheat ending stocks globally was enough of a catalyst to send markets higher last week. We are focused on how planting progress shapes up as we enter the lastpart of May. We are very much in a northern hemisphere weather market.   Anyissues with the spring wheat crops of Western Canada ornorthern U.S. Plains would be the catalyst for a move. MARKET OUTLOOK - DURUM Price outlook is flat for the time being. The market is aware of the North African harvest being large and we have seen the new crop values translate back to North America reflecting a larger harvest. Markets will shift into how the westernCanadian crop does shape up and how early June weather shows itself.  North African crop looks great, North American crop story has yet to be told. This will be the key card to the durum market. A large western Canadian crop will keep markets muted into early fall.  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/