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U.S., Mexico boost Canadian wheat exports
October 10, 2023 By Top Crop Manager
Canadian non-durum wheat exports were robust in August, with 1.3 million mt of wheat being exported in the first month of the marketing year, according to Sask Wheat’s latest outlook report, which is provided by Mercantile Consulting Venture.
This is up 18 per cent from last year, despite China taking just 37 per cent (75,200 mt) of the tonnage it did in August 2022. The strong export volume was driven by large sales to the U.S. (176,600 mt, up 22 per cent from last year) and Mexico (154,200 mt, up 629 per cent from last year). Exports to other countries of 578,700 mt is also 91 per cent more than the same time last year.
Source: Based on STC data.
Spring wheat harvest is reported to have reached completion in Saskatchewan. Saskatchewan Agriculture is estimating that the provincial yield is 39 bushels per acre compared to Stats Canada’s 37.6 bushels per acre estimate for the province.
Weekly Canadian wheat exports were lower in week nine at 272,600 mt. Deliveries were 407,000 mt as visible supplies grew to 3.1 million mt. Total exports of 3.3 million mt are up 20 per cent on last year, but the gap declined by eight per cent over the week. The AAFC is expecting wheat exports to fall by 12 per cent from last year to 18 million mt. This would require an average export pace of 342,000 mt per week compared to the current pace of 365,800 mt.
Saskatchewan Agriculture is estimating that the provincial durum yield is 33 bushels per acre compared the Stats Canada’s estimate of 25.4 bushels per acre. This is a 30 per cent yield difference.
Stats Canada reported 202,300 mt of durum exports in August. Although this is almost 50 per cent more than last year, it is still 126,000 mt less than the average August volume.
Durum exports were strong to Morocco, the U.S., and “other countries,” which do not usually import large volumes of Canadian durum. These countries include Saudi Arabia, Venezuela, Costa Rica and Nigeria.
Weekly Canadian durum exports total 336,800 mt as of week nine, down 12 per cent (44,000 mt) from last year.
