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As the rest of July plays out, United States soybeans and corn will remain in a weather market, said Sean Lusk, vice-president of Walsh Commodity Hedging Services in Chicago.

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.

The outlook for canola futures on the Intercontinental Exchange appears to be on a downward slide, said Bill Craddock, a Manitoba-based trader and farmer.

Cash prices for spring wheat across the Canadian Prairies fell hard during the week ended June 26, while those for amber durum nudged up slightly.

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

As pulse crops across the country continue to develop, Agriculture and Agri-Food Canada updated its estimates for dry peas and lentils. AAFC issued its July supply and demand report on July 21.

Soybeans and corn on the Chicago Board of Trade are heading toward a weather market, said Sean Lusk, vice-president of Walsh Commercial Hedging in Chicago. The move comes after two reports from the United States Department of Agriculture issued on June 30.

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

All wheat production in Canada is to remain relatively steady in 2025/26 said the United States Department of Agriculture attaché in Ottawa. In the report released on July 28, they forecast 35.15 million tonnes compared to 34.96 million in 2024/25.