The Ministry of Agriculture and Food Industry of Canada (AAFC) in its December report increased the forecast for wheat exports from the country in 2023/24 MR by 1.9 million tons to the previously announced indicator – to 23.2 million tons (still below the result of the previous season of 25 .7 million tons).
The upward adjustment also applied to the estimate of wheat production in Canada for the 2023/24 harvest – by 2.2 million tons, to 32 million tons (-2.3 million tons for the year), while the domestic consumption forecast was slightly reduced – to 8 .6 million tons. The forecast of ending stocks increased by 0.4 million tons to 4 million tons (+0.3 million tons for the year).
The estimate of Canadian barley production was also increased – by 1.1 million tons, to 8.9 million (+1.1 million tons for the year), domestic consumption – by 0.7 million tons, to 6.2 million tons, exports – only by 100 thousand tons, up to 2.8 million tons (+1.1 million tons per year), and final stocks – by 200 thousand tons, up to 0.8 million tons.
As for rapeseed, the estimate of production in 2023/24 MR was increased by 0.9 million tons to 18.3 million tons, domestic consumption was increased by 0.5 million tons to 10.8 million tons, the export forecast was maintained at the level of 7, 7 million tons, ending stocks increased by 0.5 million tons to 1.5 million tons.