Wheat Market Outlook Special Tariff Report - March 3, 2025

Mercantile says, indiscriminate tariffs would be terrible for Canadian agriculture. While both Canadian durum and non-durum wheat markets are exposed to the U.S., Mercantile says non-durum wheat should face less of an impact. According to Mercantile, the U.S. will need to continue importing durum wheat, but likely in heavily rationed volumes. Meanwhile, a lower Canadian dollar should allow Canada to be more competitive to other destination markets and take some additional market share from the U.S. as well. Mercantile is concerned about the tariffs but would not sell anything until we know for sure if the tariffs are on or not.