Trent Klarenbach, BSA AgEc, PAg, founder and lead analyst, Klarenbach Research
Alberta's harvest of major crops reached 97% complete as of Oct 27 in the province's final crop report of 2026.
Russia issued the first permits since July 10 for grain vessels to leave the Sea of Azov, and the European Commission trimmed its EU wheat and corn crop estimates.
U.S. wheat and corn futures ended October lower, with December corn at a four-month low on Friday.
Alberta harvest and Prairie cash bids
Provincial harvest of major crops advanced 4 points in the week to 97% complete as of Oct 27, according to the final 2026 Alberta Crop Report. The report said there are not enough comparable years to give five- and 10-year averages for this date.
Spring wheat and barley: both 99.3% combined provincially.
Oats: 96.0% combined.
Canola: 94.0% combined, with the Peace Region at 80.4%. Another 15% of Peace canola is in the swath.
Regions: South 99.9%, Central 100%, North East 97.5%, North West 98.3% and Peace 88.9%.
The report said producers in the north are combining above recommended moisture levels and drying grain, which adds to concerns about tough grain and canola dockage. Fall-seeded crops were rated 72% good to excellent provincially.
Delivered elevator bids in central Alberta on Oct 30 were C$240.35 per tonne for CPS wheat, down from C$254.51 a week earlier, and C$240.40 for feed barley, down from C$254.70, according to Alberta Agriculture and Irrigation's Weekly Crop Market Review. Canola was C$734.63, compared with C$735.44, and durum in the south was C$321.43, up from C$316.81.
Canola futures
January canola gained C$4.90 to C$788.00 per tonne on Oct 30, and November 2027 added C$0.20 to C$781.70, according to the ICE close reported by Syngenta Canada. The report said strength in vegetable oils and a rebound in crude oil supported prices, while a firmer Canadian dollar and technical pressure limited the gain.
For the week, January canola was down C$4.60 and March was down C$6.20 at C$798.30, the Weekly Crop Market Review showed.
Wheat, Black Sea and EU supply
December Chicago soft red winter wheat closed the week at US$6.035 per bushel, down US$0.215. December Minneapolis spring wheat was US$6.2375, down US$0.1775, and December Kansas City hard red winter wheat was US$6.4425, down US$0.2025, according to the Weekly Crop Market Review.
Russian authorities issued permits for grain export vessels to leave the Sea of Azov for the first time since July 10, with Kerch Strait permits running through Nov 15, Reuters reported on Oct 28, citing seven industry sources. On Nov 2, Reuters said expectations of more Russian wheat exports pulled Chicago wheat back toward a four-month low, and that wheat is down nearly 25% from its early September high, as carried by Mint.
The European Commission cut its 2026/27 EU soft wheat crop estimate to 123.7 million tonnes from 124.2 million and its maize estimate to 47.0 million tonnes from 48.3 million on Oct 30, Reuters reported. EU soft wheat exports were left at 29.0 million tonnes, ending stocks were cut to 10.6 million tonnes from 11.4 million, and barley was raised to 53.6 million tonnes from 52.9 million. Rapeseed production was unchanged at 19.4 million tonnes.
Corn, oats and fund positions
December corn closed the week at US$4.4775 per bushel, down US$0.0825, and December oats were US$3.4375, down US$0.2825, according to the Weekly Crop Market Review.
As of 6 a.m. CT on Nov 2, December corn was up US$0.03, December soft red winter wheat was up US$0.0225 and December hard red winter wheat was up US$0.0375, Pro Farmer reported. Pro Farmer said the CFTC's Commitments of Traders report showed large speculators cut net long positions by more than 90,000 contracts in corn in the week ended Oct 27, and managed money took its net short in soft red winter wheat to nearly 75,000 contracts.
Pro Farmer also cited a Reuters report that China bought US$7.2 billion of U.S. farm goods other than soybeans from January to September, the lowest for that period since 2019.
What to watch
How many grain vessels clear the Kerch Strait before the Nov 15 permit window ends.
The rest of Alberta's Peace Region canola, with 80.4% combined as of Oct 27.
Rain forecast for southeastern parts of the Prairies tonight into Tuesday, with 0.2 to 1 inch seen in Manitoba, according to World Weather Inc. as cited by Pro Farmer.
The Grain Commission's week 13 data for the week ending Nov 1.
Saskatchewan's final Crop Report of 2026 on Nov 5, according to the Government of Saskatchewan.
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Sources: Government of Alberta and AFSC, Alberta Crop Report, final report of 2026 (Oct 27, 2026) · Alberta Agriculture and Irrigation, Weekly Crop Market Review, Oct 30, 2026 · ICE Futures (via Syngenta Canada), Oct 30, 2026 · CBOT, MGEX and KC futures (via Alberta Weekly Crop Market Review), Oct 30, 2026 · European Commission (via Reuters), Oct 30, 2026 · Reuters, Sea of Azov grain permits, Oct 28, 2026 · Reuters (via Mint), Nov 2, 2026 · Pro Farmer, First Thing Today, Nov 2, 2026 · CFTC, Commitments of Traders, week ended Oct 27, 2026 (via Pro Farmer) · Government of Saskatchewan, Crop Report
