The latest outlook from SaskWheat says Canadian wheat exports in week 31 were excellent at almost 400 thousand tons.

The season total is 11.8 million tons, about 2.7 million tons or 30 percent higher than last year to date.

The biggest importers of Canadian wheat this year have been China, Indonesia and Japan.

Good railcar availability this year has doubtlessly helped to seize export opportunities.

In Saskatchewan, wheat prices for number 1 red spring wheat, 13.5 percent protein, are around 8.20 a bushel and feed wheat up to 7 dollars 75 cents, depending on location.

Compiled by Mercantile Consulting Venture, the newsletter suggests selling spring wheat above 8 dollars 10 cents a bushel.

The advice is to sell as much old crop as possible to catch the price level and provide storage space for new crop.

The outlook expects Europe to be aggressive sellers July through December, leaving little room for North American sales.

Demand for Canadian grain stocks will be greatest after January.

Canadian durum exports in week 31 were very good at 169 thousand tons, with the year to date total of 3.6 million tons, 26 percent higher than last year to date.

Canada’s biggest durum importers have been Italy, Morocco and Algeria.

Exports to Turkey are down by 344 thousand tons.

Old crop durum in Saskatchewan is trading up to 9 dollars a bushel delivered in March.

The outlook says a minimum of 50 percent of the crop should be sold at that.

New crop durum is bid at 8 dollars 25 cents to 8 dollars 50 cents FOB farm, Saskatchewan.

U.S. wheat sales are up 2 percent from a year ago.

Argentine wheat remains cheap but low soil moisture remains a concern with the start of seeding just over a month away.

Russia sold 525 thousand tons of wheat to Egypt, taking the market by surprise and weighing on cash prices.
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