According to a report from the US Department of Agriculture's Foreign Agricultural Service (FAS), Canadian grain production in the next marketing year is projected to increase by almost 5%, with a highlight being the increase in the production of wheat. Published on April 24 by the Global Agricultural Information Network, the report predicts a 5.4% increase in total Canadian wheat production, reaching 33.7 million tonnes for 2024-25, slightly above the average over the past five years.
Global cereal production is expected to grow by 4.9%, reaching 61.4 million tons, recovering from the impacts of drought in the previous harvest. The most significant increase in wheat production is predicted for durum wheat. It will see a projected increase from 36% to 5.5/mi tonnes, driven by a 5% increase in planted area and a recovery in yields. Meanwhile, spring wheat production is expected to increase by 2%, reaching 25.2 million tonnes in 2024-25.
Optimistic projections for the cereal market in Canada
With increased production, Canadian wheat imports are expected to decrease by 50,000 tonnes, compared to 600,000 tonnes in 2023-24. On the other hand, wheat exports are expected to increase by 5%, reaching 24.7 million tons.
Furthermore, total cereal exports are forecast to increase by 3.3% year-on-year, with increases in wheat offsetting declines in corn, oats and barley.
Corn imports are expected to decrease by 30%, due to better humidity in the prairies, increased domestic forage supply and improved grazing. FAS also projects slight increases in corn production, reaching 15.4 million tons, and barley, reaching 8.9 million tons.
Source: Leonardo Gottems | agrolink
