Canadian wheat exports above average
December 12, 2023 By Top Crop Manager
Statistics Canada’s monthly export numbers show non-durum wheat exports in October were 2.1 million mt compared to the average October export volume of 1.7 million mt.
Sask Wheat’s market outlook indicates that Japan and Indonesia were the top customers, both taking over 240,000 mt during the month. Exports to Indonesia from August to October are almost 250 per cent of last year’s volume at 519,000 mt. Exports to the U.S. are also 77 per cent more than last year year-to-date. China remains the largest customer for Canadian wheat, but at 539,000 mt, exports to China are just 51 per cent (down 521,000 mt) of last year’s volume year-to-date. Meanwhile, countries outside of the top importers have increased demand for Canadian wheat. Exports to “other” countries are up by 44 per cent (511,000 mt) with notable increases to several African nations.
Canadian wheat exports
Weekly Canadian exports remain strong. Another 641,500 mt of wheat was shipped during week 18. Total exports are now 7.5 million mt which is 12 per cent ahead of last year. Annualizing the current export gets us 21.7 million mt which would be impossible, so exports will need to slow as stocks tighten.
Canadian durum exports in October improved to 292,800 mt but remain well below the average pace. More than half of the exports in October went to Morocco and Algeria. While year-to-date exports to Morocco are down by 69,000 mt, exports to Algeria are up by 60,000 mt. The main reason for the slow pace of exports is that at 86,600 mt Italy has only imported 25 per cent of last year’s volume to date, replacing its early durum needs with Turkish supplies. Stats Canada says that China bought 99 mt of durum in October. If correct, this would be China’s first import of Canadian durum since December 2018.
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