Wheat Market Outlook - May 4, 2026

MARKET OUTLOOK - WHEAT Markets trying to decipher where the fine line is between where the crops will benefit from the forecasted rainfall in western Kansas and eastern Colorado this week. The markets did not do an abrupt selloff on theforecasted precipitation, which points to markets sitting with a “show me” attitude on the upcoming rains. This region is the markets focus on wheat, but we are starting to see a few more reports out of Euro region and eastern Europe. Some colder weather there has slowed spring crop planting in Russia and some dryness starting to build in Poland and into Ukraine, but markets focus is not here quite yet and will see if it does transition into a hot topic item or not. The USDA will publish official 2026/27 estimates in the May USDA reportnext week. The market will also turn focus onto the spring wheat crops that are being planted in North Dakota, Montana and Minnesota and the Canadian crop. Overall, we will be sitting in a wheat weather market from here forwards. MARKET OUTLOOK - DURUMPrice opportunities to the upside of durum appear limited for the short term. North African crop looks great, North American crop story has yet to be told. Turkish crop is expected to be a larger crop this upcoming harvest and could result in lower import demand from the region overall. Markets watching to see how the North American spring planting season progresses when it comes time to plant and the crop conditions that follow as Canada is such a major producer of the crop for global market export. Durum is also in a weather market and will watch how the North African crop comes off shortly. Canadian planting will be taking place over the next 10 to 14 days.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/