Farms.com Home   News

Wheat Market Outlook - September 5, 2023

  • Contrary to Vladimir Putin’s rhetoric, Russia has never exported more wheat than last crop year. The forecast for Russian exports by USDA is higher yet again for 2023/24.
  • For 2023/24, USDA forecasts Russia to produce 85 million mt of wheat (estimates by several other analysts are even higher) and forecasts Russian exports to reach 48 million mt. (Total global exports went from 195 million mt in 2019/20 to 214 million mt in 2022/23 and a forecast 212 million mt in 2023/24.)
  • If correct, Russian 2023/24 exports would be at 139 per cent of the 2019/20 exports, 13.5 million mt more than in that crop year.
  • The share of Russian exports of total global exports increased from, 21.5 per cent in 2019/20 to a forecast 29.3 per cent in 2023/24.
  • Meanwhile, exports by the RoW fell from 82.3 per cent in 2019/20 to an estimated 77.3 per cent in 2023/24.
Click here to see more...

Trending Video

SaskAgToday.com Roundtable: China hits Canada with canola seed tariffs

Video: SaskAgToday.com Roundtable: China hits Canada with canola seed tariffs

The big story this week was China placing a 75.8 per cent anti-dumping duty on Canadian canola seed imports.

While China claims the duty is temporary - pending the conclusion of its anti-dumping investigation into Canadian canola next month - many are calling on the federal government to take the lead and get the tariffs removed. The SaskAgToday.com Roundtable discusses what farm groups, and politicians, have been saying.

Also, the panel highlights a grand opening of Grain Millers flax processing facility, limited harvest progress in Saskatchewan due to widespread rain, and the Grain Growers of Canada on its second annual Summer Tour.