More bad news for wheat markets comes out of Canada.

Wheat market received more bad news with the release of Canada’s Production of Principle Field Crops report on Dec. 6. Wheat production was estimated at 30 million metric tons. This was 2 million metric tons higher than the pre-report estimate of 28.0 million metric tons. 2017 all-wheat acreage came in at 22.2 million acres. Saskatchewan had the largest decrease in average yield at -11.3 percent, while Manitoba had the highest increase at 12.6 percent mirroring western North Dakota versus eastern North Dakota and Minnesota production. Canadian durum production came in at 4.962 million metric tons which was also at the high end of trade expectations. These numbers added pressure to the wheat complex mid-week.