Agriculture Canada Lowers 2022/23 Grain and Oilseed Exports and Domestic Use

Agriculture and Agri-Food Canada (AAFC) released its February supply and demand estimates on Feb. 17, with a number of minor adjustments.

The 2022/23 forecast for Canadian grain and oilseed production was unchanged at 89.489 million tonnes. But exports were lowered to 45.49 million tons from last month’s forecast of 45.715 million tons.

Domestic use was also lowered to 44.506 million tons from 44.528 million tons. End-of-period stocks were raised to 10.815 million tons from 10.565 million tons. For rapeseed, domestic use was lowered to 9.738 million tons from last month’s forecast of 9.748 million tons.

Next year’s grain and oilseed production likely to fall

For the upcoming 2023/24, AAFC’s forecast for grain and oilseed production is revised down to 87.965 million tons from 88.045 million tons, as flaxseed production is expected to be lowered. exports for 2023/24 remain unchanged at 45.865 million tons. Domestic use was lowered to 44.471 million tons from 44.696 million tons. 2023/24 ending stocks were raised to 11.355 million tons from 10.960 million tons last month.

Source: Boeing Guru

Post time: Mar-01-2023