"Agriculture Forecast: AAFC Boosts 2024-25 Wheat Outlook and Consumption Projections"

Wheat

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Agriculture and Agri-Food Canada (AAFC) has adjusted its forecasts for the 2024-25 agricultural season, increasing all wheat production by 0.7 million metric tons to 34.6 million metric tons (compared to 32.0 million metric tons the previous year). Consumption is expected to rise by 0.2 million metric tons to 9.3 million metric tons (from 8.6 million metric tons), exports are projected to increase by 0.2 million metric tons to 24.6 million metric tons (compared to 23.5 million metric tons), and ending stocks are anticipated to grow by 0.2 million metric tons to 4.4 million metric tons (from 3.6 million metric tons). Additionally, durum production has been revised upward by 0.3 million metric tons to 5.7 million metric tons (from 4.0 million metric tons), with exports expected to rise by 0.1 million metric tons to 4.5 million metric tons (compared to 3.2 million metric tons) and ending stocks to increase by 0.1 million metric tons to 0.8 million metric tons (from 0.5 million metric tons).