Canadian wheat exports during the 2018-19 crop year-to-date are running at a record pace, with exports as of Sunday roughly 1.4 million tonnes ahead of what was exported during the same time frame the previous crop year.
Canada has exported 8.87 million tonnes of wheat as of Sunday, according to the latest Canadian Grain Commission data. That compares with 7.48 million tonnes at the same point the previous year, and the 10-year-average for week 25 of the crop year of only 6.35 million tonnes.
Grain exporters have cited increased demand from China, the recently implemented Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and weakness in the Canadian dollar as all contributing to the increased wheat movement.
Agriculture and Agri-Food Canada is currently forecasting total wheat exports in 2018-19 (including durum) of 22.9 million tonnes, which would be up from the 21.867 million moved the previous year.
Wheat exports in 2019-20 are forecast by AAFC at 23 million tonnes.
— Phil Franz-Warkentin writes for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.Tagged Canadian dollar, China, CPTPP, durum, exports, Grain Commission, tonnes, wheat, wheat exports