Canada cut soft wheat exports by nearly 30% in the first week of January
According to the Canadian Grain Commission, from January 3 to 9, 187.1 thousand tons of soft wheat were shipped for export from the country's ports, which is 29% less than the result of the previous week, according to S&P Global Platts.
As specified, the decline in exports is due to the growth in demand observed in the world market for grain origin from other countries.
At the same time, the export of durum wheat from the country in the first week of January amounted to 19.6 thousand tons compared to 13.1 thousand tons a week earlier.
In total, from the beginning of 2021/22 MY (from August 1 to January 9), Canada shipped 5.2 million tons of soft wheat for export compared to 8.1 million tons for the same period in 2020/21 MY and 1.2 million tons of durum wheat ( -52% per year).
According to the official forecast, wheat exports from Canada in MY 2021/22 may decrease to 16.1 million tons compared to 26.4 million tons shipped a season earlier, which will be due to a decrease in grain production in the country (to a minimum of the last 14 years) due to for the drought observed in the summer of 2021