Canada's Department of Agriculture expects tighter canola stocks in 2024/25

Based on Statistics Canada's projected acreage, AAFC lowered Canadian canola production in 2024/25 to 18.1 million tons, down from the 18.365 million tons forecast in February and down from 18.328 million tons in 2023/24. Rapeseed exports are expected to remain unchanged at 7.7 million tons in 2024/25, up from 7 million tons in 2023/24. With domestic use revised only slightly, ending stocks of rapeseed in 2024/25 are expected to tighten to 1.65 million tons, down from the 1.95 million tons forecast in February and down from 2 million tons in 2023/24. Wheat production increased AAFC forecasts all wheat (including durum) production in 2024/25 to be 34.593 million tons, which is 667,000 tons higher than the February forecast and much higher than the 31.954 million tons in 2023/24. Exports in 2024/25 are estimated at 24.6 million tons, compared with 24.35 million tons forecast in February and 23.45 million tons the previous year. It is expected that by the end of July 2025, all wheat ...