The report announced by the Global Agricultural Information Network of the Foreign Agricultural Service (FAS) of the US Department of Agriculture expects the second largest wheat crop in Canadian history in the 2023-2024 marketing year, thanks to the highest ever planted area.

The FAS report predicted that wheat production in Canada will reach 35.8 million tons, ranking second after Canada's total wheat production in 2013-2014 of 37.5 million tons, and 6% higher than the estimated 33.8 million tons produced in 2022-2023.

The US report explained that this total wheat production of 35.8 million tons, although hectare yield is expected to decline slightly, will be offset by a 3% increase in planted area, reaching 10.7 million hectares.

The US Department of Agriculture report indicated that total grain production in Canada, including wheat, is expected to rise by 1% in 2023-2024, mainly due to the significant expected increase in wheat production, noting that the only grain crop expected to see a significant decrease in production is oats, due to decreased planted area in Saskatchewan.

According to the US report, Canada's oat production is witnessing a 21% drop in output from 5.2 million tons in 2022-23 to 4 million tons, explaining that poor returns compared to competing crops and high on-farm stocks are expected to motivate farmers to plant competing crops such as barley, instead of oats.

The report indicates an increase in global wheat stocks according to the total wheat production forecast report by more than 3.5 million tons compared to the 2013 reports.