Wheat supplies continue to be onerous around the world. In the United States it has been competing with corn in the feed grain market. However, as corn harvest gets rolling in the United States, harvest pressure on basis levels will surely replace some of that wheat. The Chicago wheat market tends to trend down through early October.
In Ontario, producers are poised to plant wheat once combines start to roll. A difficult 2013 harvest season is certainly in the rearview mirror, but may affect wheat plantings this fall. One million acres is always a magic figure for Ontario wheat, and weather this fall will certainly determine whether we get there.