Market turbulence continued last week, with volatility and uncertainty due to the weak loonie and broader world economics.
G3 Canada's Director of Market Research Neil Townsend says the abundance of grains and oilseeds in the world hasn't changed, although Canadian wheat exports moving ahead of pace from the past two marketing years.
Townsend says global demand in general may not be as gloomy as we think.
"There is a positive there, maybe we've lost sight of it because we've been so successful at the production side of things over the last couple of years but in general, global demand is grwoing year on year and we
're going to reach an all time record high global demand this year and we're gonna make another all time record high global demand next year."
He says it's hard to call a bottom, with a continued abundance of grains and oilseeds, "the issue remains the same, we either have to see a spike in demand and then the other thing is either a ray of hope or just some sort of weather failure somewhere."
Townsend says demand growth is slowing in some areas, such as biofuels, but consumption for grains and oilseeds as food items is increasing.