Trent Klarenbach, BSA AgEc, PAg, founder and lead analyst, Klarenbach Research
USDA's November WASDE tightened the U.S. soybean sheet and loosened world wheat, and Canada's draft Clean Fuel Regulations put credit multipliers on domestic ethanol and biodiesel. Here's the analysis we published this week, in one place.
WASDE Through a Prairie Lens: Tight Soy, Heavier Wheat | PGI Nov 11, 2026
Start here. USDA's Nov 10 WASDE cut U.S. soybean ending stocks 15 million bushels to 300 million and raised world wheat ending stocks 4.78 Mt to 280.82 Mt (USDA WASDE). Trent's fundamental read: canola mildly supportive, CWRS, durum and barley neutral.
Clean fuel multipliers: a margin lift for Canadian plants, not a new demand mandate
Canada's draft Clean Fuel Regulations would give domestic ethanol a 1.3× credit multiplier, biodiesel 1.4× and renewable diesel 1.5× (Canada Gazette, Part I). Trent reads it as a margin story for plants, not new corn or canola demand, and it is a proposal in consultation to mid-January 2027.
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Sources: USDA, World Agricultural Supply and Demand Estimates (WASDE-677), Nov 10, 2026 · Environment and Climate Change Canada, Canada Gazette Part I, draft Clean Fuel Regulations amendments, Oct 31, 2026. Each post's full source list is on its page.
This recap is educational and is not individualized trading or marketing advice.
