Canadian Wheat Production Declines Amid Harvest Weather Challenges
Canadian wheat production is projected to decline this year due to adverse harvest weather. Statistics Canada's model-based estimates released on September 16 predicted a total of 36.1 million tonnes, down from 40.6 million tonnes in the previous year. Spring wheat and durum are expected to decrease by 10.9% and 12.1%, respectively.
According to analyst Jerry Klassen, larger feed wheat supplies would reduce feed costs while supporting prices for milling-quality grain. However, he notes that with rains causing harvest delays in parts of the Prairies, quality will be an issue for later fields.
Klassen estimates that up to half a million tonnes of durum could grade as feed this year, affecting the market. He also mentions that despite having the highest feed wheat prices in the world, these are expected to change over the next few months.