Canadian wheat exports hit new high
05 March 2023, Canada: Canada’s all wheat exports totalled 2.7mn t in January, up from 1.92mn t a month ago, Canadian Grain Commission data show. This was also a new high for the month, rising above the previous January record of 2.45mn t from 2021.
And on a monthly basis, January shipments were at their highest since July 2020 when they amounted to 2.77mn t.
Soft wheat shipments, primarily formed of Canadian Western Red Spring (CWRS) grade, totalled 1.88mn t in January, up from 1.56mn t a month ago and 935,000t a year earlier. Japan was the top receiver of product in January, with some 211,000t heading to the destination. This was followed by Peru at some 200,000t.
Cumulative soft wheat exports since the start of the 2022-23 marketing year (August-July) rose to 9.94mn t from 5.89mn t over August-January a year ago. China remained the largest buyer with 1.89mn t earmarked for the destination, ahead of Japan and Bangladesh.
But overall support to wheat exports came mostly from durum, with shipments of crop rising to a record 791,000t from 356,000t in December and just 132,000t a year ago. Durum cargoes mostly headed to Italy, Algeria, and Tunisia, which received a combined 603,000t, as western European supply this season fails to meet demand in Europe and north Africa.
Cumulatively, durum exports reached 2.71mn t since August, up sharply from 1.3mn t a year ago. All major buyers of Canadian durum have stepped up receipts this year, with Italy remaining the largest buyer.
Preliminary data show wheat exports remained robust in February, while slowing from January, with soft wheat shipments totalling 1.02mn t on 1-19 February and durum cargoes reaching 350,000t.
With all wheat exports reaching a preliminary 14.01mn t, Canada would need to ship around 11mn t by the end of July to meet the US Department of Agriculture projections for 2022-23. Barring 2021-22’s poor harvest-induced weak performance, Canadian wheat shipments rose above that level, averaging 11.24mn t over March-July in the prior three marketing years.
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