Glacier FarmMedia | MarketsFarm—Canadian wheat ending stocks for the 2024-25 marketing year are forecast to be well above earlier expectations, according to updated supply/demand estimates from Agriculture and Agri-Food Canada (AAFC), released Sept. 25 that account for latest production and old crop ending stocks estimates from Statistics Canada.
Wheat ending stocks for 2024-25 were raised to 5.050 million tonnes, from 2.800 million tonnes in August. Much of the adjustment was tied to an upward revision to the 2023/24 wheat carryout—now at 4.583 million tonnes. Total Canadian wheat exports for 2024-25 were left unchanged at 25.300 million tonnes, which would be in line with the 25.242 million tonnes exported in 2023-24.
Canola ending stocks were forecast at 2.500 million tonnes, up slightly from the August estimate of 2.230 million tonnes but below the 3.092 million tonnes on hand as of July 31, 2023. Projected 2024-25 canola exports were left unchanged at 7.500 million tonnes, with domestic usage raised to 12.173 million tonnes from 11.398 million in August. Domestic usage for canola in 2023-24 came in at 11.540 million tonnes.
