Canada: Grain and Feed Update

Marketing year (MY) 2025/26 wheat production is under pressure from sub-par spring and winter wheat conditions in key Prairie provinces-drought is a central challenge. Exports, especially durum, are strong. The five million metric ton (MT) year-to-date (YTD, as of May 2025) durum exports reflect robust demand, while non-durum shipments are relatively stable. Feed wheat markets are being squeezed by competition from alternative grains. Carry-out stocks are tightening in MY 2024/25. Poor crop recovery or moisture stress could pose further supply risks. The tariff situation is fluid, with ongoing negotiations and potential changes to trade policies, creating uncertainty in the wheat market.