Source: APKinform (Ukraine)
Experts from S&P Global Platts report that from February 19 to 27, the cost of Canadian wheat (Western Red Spring) hit a six-month low amidst fluctuations in the wheat market and growing worries over potential U.S. trade tariffs on Canada.
They observed that prior to the final week of February, prices were buoyed by the anticipated reduction in wheat yields in the U.S. and Russia, attributed to adverse weather affecting crop development. Nevertheless, on February 27, futures for Canadian wheat WRS experienced a sharp decrease, dropping to $257.12 per ton – the lowest price since August 2024. In comparison to the previous year’s February, the average monthly prices have declined by roughly 8%.
This steep price drop has compelled Canadian farmers to limit their sales. Additionally, a restricted capacity among grain traders expected in April and May, coupled with decreasing demand, has further contributed to the decline in CWRS prices.
Furthermore, it has been noted that the existing market conditions and anticipated tariffs have left many producers uncertain about the extent of land they will plant with new crop grains.