Canada exports more wheat and less canola during first four months of 2023-24 crop year

Canadian wheat exports are on a record pace four months into the crop year—but there will not be enough wheat available to set a new mark for the entire year.

This is Chuck Penner with Leftfield Commodity Research during a December 14^th presentation to the Canary Seed Development Commission of Saskatchewan annual general meeting in Regina.

Although prices were lower than producers’ expectations, the wheat trade is monitoring the progress of winter wheat plantings in the main production areas.

Exports of rapeseed, according to the expert, have declined, mainly due to reduced sales to China. Penner believes that this year could be a record year for rapeseed oil production if additional crushing capacities come into operation. He believes that the Canadian rapeseed crop in 2023 will be slightly larger than the current forecast.

The current rapeseed market is very volatile, but Penner believes that prices will rise during the seasonal March/April.

Tags: wheat, rapeseed, export, Canada