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Corn, soybean and wheat futures on the Chicago Board of Trade continue to drop and one Chicago-based analyst says they are going to be even lower.

Grain prices at the Chicago Board of Trade were on the weaker side for the week ended July 16 due to last week's USDA report and ongoing trade tensions.

Feed grain prices in Alberta moved lower following recent rains, said Susanne Leclerc, owner of Market Master Ltd. in Edmonton. However, she suggested prices could increase prior to the coming harvest.

Cash prices for spring wheat and durum across the Canadian Prairies saw slight movement either way during the week ended July 31.

Cash prices for spring wheat and durum across the Canadian Prairies pulled back during the week ended July 24.

With dry conditions in Australia’s southern production regions, the United States Department of Agriculture attaché in Canberra projected reduced wheat production for 2025/26. The attaché wrote in their report released on July 28 that Western Australia, South Australia and Victoria had low soil moisture levels going into wheat planting and there was below-average autumn rains.

Weak demand continues to hamper prices for feed barley and wheat, said Darcy Haley, vice-president of Ag Value Brokers in Lethbridge.

Hard red spring wheat bids in Western Canada were weaker during the week ended Aug. 7, as a move to five-year lows in the United States futures weighed on prices.

Manitoba cereals, oilseeds and pulses continue to develop nicely, the province’s latest crop report said.

Crops in Manitoba continued to hold up quite well, but the provincial agriculture department reported some variation in the spring wheat over the week ended July 29.