Canadian wheat exports were strong in shipping week 13.
According to the latest SaskWheat Market Outlook, 526.3-thousand metric tons (mt) of wheat was exported to bring the season total to 5.1-million metric tons, up 11 percent from last year.
Michael Wilton with Mercantile Consulting Venture in Winnipeg says the fall program for exports usually peaks in October before slowing down in the heart of winter.
He says exports show no signs of slowing down anytime soon but will eventually as supplies run tight. Mercantile is expecting exports to be around 18.5 million mt, down 9 percent from last year while Agriculture and Agri-Food Canada is looking for a 13 per cent decrease to 18.0 million mt.
Canadian durum exports, however, were low at just 15-thousand metric tons in week 13, with most of it shipped out of Vancouver. Total exports of durum are 641.3-thousand metric tons.
Wilton says Canadian farmers have delivered almost one million mt of durum which is just under a quarter of the total production.
Prices for Canadian durum, meanwhile, have been competitive in recent weeks with several countries in Europe.
He also noted European Union wheat exports are having their slowest start in three years. As of shipping week 12, just 9.6 million metric tons has been exported compared to 12.6 million tons last year.
Wilton says demand in other markets have been small.
Mercantile’s outlook on the wheat market currently is it expects a slow week, suggesting “wheat is struggling for fresh input amidst a visible lack of demand, while the funds still hold a near record short, and there are planting issues in parts of Europe and South American weather conditions are of concern.”
Michael Wilton’s comments came from this week’s SaskWheat Market Outlook and Price Report.
