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Wheat Prices in Saskatchewan for Milling Fell by 22 percent in 2024

Wheat Prices in Saskatchewan for Milling Fell by 22 percent in 2024
May 15, 2025
By Jean-Paul McDonald
Assistant Editor, North American Content, Farms.com

Wheat Milling Volume Shifts in North America

 

In 2024, Canadian wheat millers processed 3.3 million tonnes of wheat, marking a small decrease of 0.8 percent compared to 2023. Total flour production also dropped by 1.3 percent to 2.5 million tonnes.  

Specifically, milling of wheat excluding durum fell by 0.7 percent to 3.1 million tonnes. Durum wheat milling declined more sharply by 2.3 percent to about 218,900 tonnes. 

Most of the flour produced in Canada is consumed domestically for food. Between 2019 and 2023, about 88 percent of wheat flour supply in Canada was used within the country, mainly sold in stores or used in baking. The remaining flour was exported, averaging 7.2 percent of total supply during the same period. 

In 2024, Canada exported 220,000 tonnes of wheat flour. The United States was the largest buyer, receiving 92.8 percent of exports, followed by smaller amounts going to the Bahamas and Cuba. The previous year, Thailand was also a significant buyer of Canadian wheat flour. 

One key factor behind the decline in Canadian flour production is the drop in wheat prices. Wheat prices in Saskatchewan for milling (excluding durum) fell by 22 percent in 2024 compared to 2023. This price reduction contributed to a 10.3 percent decrease in the average retail price for 2.5 kilograms of flour in Canada. 

In contrast, wheat milling in the United States grew by 1.2 percent in 2024. US millers processed nearly 25 million tonnes of wheat and produced 19.3 million tonnes of flour, both showing slight increases from the previous year. Milling of wheat excluding durum rose 1.3 percent to 23.1 million tonnes, and durum wheat milling increased by 0.8 percent to 1.8 million tonnes. 

These figures highlight differing trends between Canada and the US in wheat processing and flour production during 2024, influenced by factors such as wheat prices and domestic demand. 

Industry analysts warn that the introduction of new tariffs by the United States may affect the volume of wheat milled in Canada in the coming year. 

In 2024, Canadian millers exported 204,300 tonnes of wheat flour to the U.S., accounting for the bulk of Canada’s wheat flour exports. Any trade barriers imposed by the U.S. could disrupt this export channel, with potential downstream effects on Canada's milling sector.

Photo Credit: Pexels


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