US wheat loses business to Canada

The market was dead and especially for O/N/D where exporters have no interest unless they need something for logistics. Last week there were more soybeans loaded from the Texas gulf than wheat. Domestic HRW has not seen a train on the spot market in the past 7-days and pipelines are drawn down. Domestic spring wheat market continues to live off the spot market with no interest in too arrive Nov/Dec. The PNW SWW is still cheapest world wheat with increased interest from feed wheat buyers.
Canadian wheat is cheaper than US NS/DNS and US HRW from PNW or gulf. Latin American buyers were tendering this week and price suggests Canadian wheat will capture this business.

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