Trent Klarenbach, BSA AgEc, PAg, founder and lead analyst, Klarenbach Research
Russia, Ukraine and the United States meet in Abu Dhabi on Nov 10-11, and Ukraine has put the Black Sea grain corridor on its list of priorities.
January canola closed the week at C$752.20 per tonne, down C$35.80, while Canadian canola exports are running 55.2% ahead of last year.
USDA releases its November WASDE and Crop Production reports on Tuesday, Nov 10, with the trade looking for a smaller U.S. corn yield and a larger soybean yield.
Black Sea and wheat
Wheat futures fell as much as 2.4% on Nov 6 to the lowest intraday price since June 30 as traders anticipated the planned talks, Bloomberg reported. The Hightower Report was quoted in the same story: "Scheduled Black Sea talks in Abu Dhabi mid-next week are pressuring prices and that is likely to continue for the next few sessions."
President Zelenskyy named grain and unblocking the Black Sea as the second of four priorities for the talks, after a ceasefire on energy infrastructure, RBC-Ukraine reported. Kremlin spokesperson Dmitry Peskov confirmed Russia's participation, with Putin aide Vladimir Medinsky leading the delegation.
On Nov 9, the European Commission said a joint EU team will attend alongside France, Germany and the UK, Euronews reported. Commission President Ursula von der Leyen said: "Freedom of navigation in the Black Sea must be restored and preserved."
December Chicago wheat closed at US$5.91¼ a bushel on Nov 6, down US$0.12¼ on the week, December Kansas City wheat at US$6.32½ and December Minneapolis spring wheat at US$6.16, according to Alberta Agriculture and Irrigation's Weekly Crop Market Review.
Canola and Prairie exports
January canola closed at C$752.20 per tonne on Nov 6, down C$35.80 for the week, after trading as low as C$743.70, and March closed at C$764.20, the Weekly Crop Market Review shows. Central Alberta delivered canola bids averaged C$706.76 per tonne, against C$734.63 the week before.
Canadian exports for week 13, ended Nov 1, from Canadian Grain Commission data as compiled in the Alberta review:
Canola: 284.9 thousand tonnes for the week, and 2.21 million tonnes crop year to date, up 55.2% from 1.42 million tonnes a year earlier.
Wheat excluding durum: 384.7 thousand tonnes for the week, and 6.38 million tonnes to date, up 12.3%.
Durum: 78.3 thousand tonnes for the week, and 1.28 million tonnes to date, up 41.8%.
Barley: 127.2 thousand tonnes for the week, and 1.05 million tonnes to date, unchanged from last year.
Oats: 36.5 thousand tonnes for the week, and 226.9 thousand tonnes to date, down 27.3%.
Canola domestic use was 251.1 thousand tonnes for the week and 3.24 million tonnes to date, up 7.3% from a year earlier, the same table shows.
Agricultural Producers Association of Saskatchewan president Bill Prybylski told senators that a 2026 report found wheat prices declined 7% while flour prices rose 6%, and that the farmer's share of the retail food dollar fell for more than half of the products examined, DiscoverMooseJaw reported on Nov 8.
U.S. and WASDE preview
December corn closed at US$4.41½ a bushel on Nov 6, up US$0.01½, and January soybeans at US$11.93¾, up US$0.05½, Brownfield reported. December Chicago wheat was down US$0.08 on the day.
The Dow Jones pre-report survey averages 180.5 bushels per acre for the U.S. corn yield, against 181.2 in October, and 1.826 billion bushels for corn ending stocks, against 1.849 billion, DTN reported. The soybean yield average is 53.6 bushels per acre, against 53.1, with ending stocks of 336 million bushels against 315 million.
For wheat, the analyst average for U.S. ending stocks is 744.1 million bushels, against USDA's 740 million in October, Pro Farmer reported. The reports are out at 11:00 a.m. CT (11:00 a.m. CST), StoneX noted.
What to watch
The Abu Dhabi talks on Nov 10-11 and any announcement on Black Sea shipping.
USDA's November WASDE and Crop Production reports on Nov 10.
Week 14 Canadian Grain Commission export and delivery figures on Grain Statistics Weekly.
January canola's response to the week's decline.
Prairie Grain Intelligence tells you the news.
The Klarenbach Grain Report has the plan.
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Sources: Alberta Agriculture and Irrigation, Weekly Crop Market Review, Nov 6, 2026 · Canadian Grain Commission, Grain Statistics Weekly, week 13 (via Alberta Weekly Crop Market Review) · ICE Futures canola, CBOT, KC and MGEX futures, Nov 6, 2026 (via Alberta Weekly Crop Market Review and Brownfield) · USDA, WASDE trade estimates (via DTN/Dow Jones survey, Pro Farmer and StoneX) · Bloomberg · RBC-Ukraine · Euronews · DiscoverMooseJaw