The USDA released its July WASDE report Monday.

Neil Townsend is Chief Market Analyst with FarmLink Marketing Solutions.

"From a Canadian perspective, the wheat numbers where pretty exciting because they really dropped the wheat yield for spring wheat, for durum wheat and even for some key white wheats out in the Pacific Northwest. Those balance sheets tightened considerably. In a normal year, that would be very beneficial for Canada because obviously less offshore competition and increased demand from the U.S. market. I think given our current crop conditions and our prospects we might not be able to exploit that to the fullest extent just because we have our own issues with where our wheat yields might end up."

Townsend notes there wasn't much change for corn and soybeans in the U.S.