Wheat tumbles despite tight stocks

Sep 05, 2023

Canada entered the 2023-24 crop year with the lowest combined wheat and durum stocks in history.

Agriculture Canada estimates there were 3.24 million tonnes of both crops on hand as of Aug. 1, 2023.

That would break the previous record low of 3.66 million tonnes set in 2021-22 following a severe drought.

Analysts are also forecasting lacklustre Canadian wheat production. MarketsFarm pegged all-wheat production at 30.4 million tonnes as of the end of July, well below Agriculture Canada’s current estimate of 33.2 million tonnes.

Meanwhile, the U.S. Department of Agriculture is forecasting an average U.S. spring wheat yield of 41.8 bushels per acre, down from last year’s 46.2 bu.

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Border View Farms is a mid-sized family farm that sits on the Ohio-Michigan border. My name is Nathan. I make and edit all of the videos posted here. I farm with my dad, Mark and uncle, Phil. We also have a part-time employee, Brock. My dad started the farm in 1980. Since then we have grown the operation from just a couple hundred acres to over 3,000. Watch my 500th video for a history of our farm I filmed with my dad.

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