Thursday, October 7, 2021

Drought reduces export potential

Canada is likely to export a lot less grains and oilseeds this year because drought has reduced the harvest and bins have been swept clean of last year’s crop.

The Canadian Grain Commission (CGC) reports that August exports were 38.5 per cent less than last year.

Wheat exports in August were down by 22.2 per cent, only 2,400 tonnes of barley was exported and that was 98.6 per cent less than August, 2020.

Durum bucked the trend with an increase of 27.8 per cent to 361,300 tonnes.

Soybean exports were down by 90.3 per cent to 13,000 tonnes.

Canola was down by 77 per cent to 205,500 tonnes. There wasn’t enough canola to meet demand so exports to China fell by almost 79 per cent and to Japan by 58.7 per cent.