Canada: Grain and Feed Update

In marketing year 2023/24, wheat production fell seven percent from the previous year to 31.95 million metric tons as severely low soil moisture in vast sections of Alberta and Saskatchewan reduced yields. This decline in production is despite a six percent increase in area planted to wheat. Wheat exports are forecast to decrease six percent year-over-year on lower exportable supplies. Exports to Saudi Arabia have rebounded after a five-year diplomatic conflict ended in May 2023.