Canada's wheat market to remain stable amid US tariff uncertainty

Published 2024년 12월 25일

Tridge summary

Canada's wheat market is projected to grow in the 2024-25 marketing year, with a total production of 35 million metric tons and exports expected to increase to 26.5 million tons. The market is stable but could be affected by potential U.S. sanctions. China is the largest importer of Canadian wheat, followed by Indonesia, Japan, and the United States. Strong demand for Canadian Western Red Spring Wheat is expected due to declining gluten content in other sources. Climate change is also impacting crop production. The return of former President Trump could bring back sanctions and tariffs, potentially increasing Canada's wheat market share in China.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Canada’s wheat market is expected to enter a stable environment in 2025, with S&P Global Commodity Insights forecasting growth in the 2024-25 marketing year (August-July), but market participants are not ruling out a change in trade dynamics amid looming U.S. sanctions. Commodity Insights analysts forecast Canada’s total wheat production to reach 35 million metric tons in 2024-25, up 6.4% from last year, while exports are expected to increase 4.3% from last year to 26.5 million tons. Market sources expect Trump’s proposed tariffs on Canada could significantly alter trade flows, but with the prospect of Canadian producers capturing overseas business that would otherwise go to U.S. suppliers, oilworld.ru reports, citing S&P Global Platts. Over the past five years, China has been the largest importer of Canadian wheat, including durum, with a 10% share of exports, followed by Indonesia at 9% and Japan and the United States at 8% each, Commodity Insights at Agriculture and Agri Food ...

Source: Oilworld