Derek Brewin, an agricultural economics professor with the University of Manitoba, doubts the tariffs will have much impact on CWRS prices.

“I don’t think a small reduction in flows to the U.S. will hurt Canada as much as the tariffs will hurt canola oil, where the U.S. is their major buyer,” Brewin wrote in an email.

“There is a huge share of Canadian Hard Spring that flows out of Vancouver to final customers in Asia and the Middle East and west coast Latin America. If the U.S. adds a tariff on our wheat, it is more likely to drive up U.S. hard spring prices than have much effect on those trade flows or prices at the West Coast.”