The Good: Wheat exports rebounded in during the last week (50) ending on July 20, 2025 and totaled 558,400 tonnes. This pushed the total exports to 21.7 million tonnes which is nearly 500,000 tonnes above the 2023-24 crop year exports. Durum exports were also very strong at 95,000 tonnes which pushed current year exports to 5.6 million tonnes. The total wheat (wheat and durum) exports are now 27.3 million tonnes which is already an all time record. With two weeks left in the marketing year, Canadian wheat exports are likely to end up near 28 million tonnes. Canadian wheat exports remain very strong which is good news for wheat and durum markets.
The Bad: Canola futures closed down by C$2.40 per tonne today with the November contract closing the day at C$695.70 per tonne. The drop in canola was bad news given a one cent gain in soybean futures and a 0.95 per cent increase in soybean oil futures. Canola futures are trading lower despite increases in fellow oilseed markets is a very bad sign for canola.
The Ugly: The spring wheat contract closed at yet another contract low with the September contract closing at US$5.86 per tonne. The ugly news is that Chicago wheat closed unchanged to up one cent per bushel and Kansas City futures were up by four to five cents per bushel. The ugly news is that spring wheat failed to post gains on a day that corn markets were higher. With spring wheat harvest just around the corner, Minneapolis futures are likely to remain ugly.
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