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Canadian farmers' overall new crop outlook has improved since the beginning of the year, says Farm Credit Canada.

Chicago Mercantile Exchange cattle futures continued to rally on Tuesday, with feeder contracts setting new all-time highs, as U.S. cash prices remained firm and domestic supplies of replacement animals continued to shrink, market analysts said.

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.

Australia has lifted a 22-year-old ban on the import of Canadian beef and beef products, the Canadian Food Inspection Agency said in a statement on Tuesday.

Chicago Board of Trade wheat futures fell on Wednesday amid signs of profit-taking and reports of ample global supplies, which are outweighing concerns over smaller Russian crop estimates, market analysts said.

Chicago corn and soybean futures fell on Monday on forecasts for crop-friendly rain in U.S. grain belts this week.

Chicago corn and soybean futures fell on Tuesday for a third straight session as forecasts for cooler Midwest temperatures this week and continued periodic rains reinforced expectations for ample U.S. harvests, analysts said.

Lentil prices on the Canadian Prairies eased back during the week ended July 28, said Levon Sargsyan, broker with Johnston’s Grain. Sargsyan noted that’s due to the recent rains that brought relief to some of the dry areas of the region.