Wheat movement was robust in week 44, or the week ending June 6. Producers delivered 635,800 metric tons (wheat excluding durum) into the licensed grain handling system during the week, the largest weekly volume delivered this crop year. Deliveries of durum totaled 102,400 mt, the largest volume unloaded in six weeks.
Combined, the 738,200 mt of wheat and durum delivered trailed only the 746,900 mt delivered in week 23 and the 740,300 mt delivered in week 25, although by a slim margin. This cumulative volume is 100% higher than the three-year average for week 44 and 67.1% higher than the five-year average for this shipping week.
Exports of wheat (excluding durum) remained solid in week 44 at 516,400 mt. This is the largest volume shipped in four weeks while the eighth time this crop year that weekly exports have exceeded 500,000 mt in a single week of shipping. Exports of more than 500,000 mt was only achieved on four shipping weeks in 2019-20 and in two weeks of the 2018-19 crop year.
Exports of durum were reported at 60,400 mt for week 44, the lowest volume shipped in 20 weeks, while still well-above the volume needed this week to remain on track to reach the current AAFC forecast of 5.7 million metric tons.
Overall stocks of wheat in commercial storage leave shippers well-covered to meet further demand for the upcoming weeks of the crop year. Commercial stocks of wheat increased during the past week to 2.3366 mmt, up 8.5 % from the three-year average for this week, while durum stocks increased slightly to 441,800 mt, down 13.2% from the three-year average, signaling tightening stocks across the prairie provinces.
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