Canadian grain exports for the new crop year are off to a good start, but it’s likely aided by anticipation of a rail strike or lockout.
Numbers from the SaskWheat Market Outlook for the week of August 19 show Canada exported 528 thousand tonnes of wheat in week one of the 2024-25 crop year and terminal receipts were at 643 thousand tonnes.
Canadian durum exports for week one were also good at 87 thousand tonnes and terminal receipts were at 71 thousand tonnes. Boersch says export numbers are “unusually high” but that is likely due shippers trying to get extra volumes of grain out to ports ahead of the potential work stoppage.
Algeria purchased about 500 thousand tonnes of durum, including 275 thousand tonnes from Canada and the remaining 225 thousand from other markets, equating to around $9.45 a bushel at an elevator in Saskatchewan.
Boersch says bids for durum in the province weakened to around $8.15-8.50 a bushel, although there were notable specials in southern Saskatchewan at $10.35 a bushel for decent volumes for immediate shipment.
Canadian Pacific Kansas City Ltd. and Canadian National Railway have been slowing down shipments of various commodities ahead of Thursday, when rail traffic would come to a complete halt. Both companies said they would lock out workers unless an agreement is made, while CPKC workers issued 72-hour strike notice at the same time.
