Wheat demand continues to increase

Jan 23, 2023

The global appetite for wheat has been on a steady upward trend for the past two decades or so.

That, combined with the war in Ukraine and dry conditions affecting production in some major wheat exporting nations, should set the table for continued support of global wheat prices.

“We’ve had this situation where (global) production has been outstripped by usage for the last several years,” said Chuck Penner, market analyst with LeftField Commodity Research.

“When that happens, you have global wheat stocks declining.”

In a recent wheat market outlook presentation at CropWeek in Saskatoon, Penner painted a generally favourable supply and demand picture that should have Canadian wheat sellers feeling confident about the direction of wheat prices in the months ahead.

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Video: Why Invest in Canada’s Seed Future? | On The Brink: Episode 3

Darcy Unger just invested millions to build a brand-new seed plant on his farm in Stonewall, Manitoba so when it’s time for his sons to take over, they have the tools they need to succeed.

Right now, 95% of the genetics they’ll be growing come from Canadian plant breeders.

That number matters.

When fusarium hit Western Canada in the late 90s, it was Canadian breeders who responded, because they understood Canadian conditions. That ability to react quickly to what’s happening on Canadian farms is exactly what’s at risk when breeding programs lose funding.

For farmers like Darcy, who have made generational investments based on the assumption that better genetics will keep coming, the stakes are direct and personal.

We’re on the brink of decisions that will shape our agricultural future for not only our generation, but also the ones to come.

What direction will we choose?

On The Brink is a year-long video series traveling across Canada to meet the researchers, breeders, farmers, seed companies, and policymakers shaping the future of Canadian plant breeding. Each week, a new story. Each story, a piece of the bigger picture.

Episode 3 is above. Follow Seed World Canada to catch every episode, and tell us: Do you think the next generation will have the tools they need to success when they takeover? How is the future going to look?