
A standout year for grain at the Port of Montreal
Solid performance stimulated by record harvest
The year 2024 reaped the benefits of a bumper harvest in Canada. Grain crops posted an overall increase of 2%, and more specifically a 5.4% gain for wheat. Of the varieties that transited through the Port of Montreal, wheat, soybeans, canola and corn stood out.
Global demand for Canadian grains remained especially strong in Asia, Europe and North Africa. The latter region alone accounted for close to 25% of grain exports through the Port of Montreal, with Morocco and Algeria among the main destinations. Venezuela emerged as the main importing country, accounting for close to 20% of grain shipped. These agricultural products are not limited to human consumption, as they also support livestock feed in many importing countries.
Among the factors that made Canadian grain more attractive on international markets was the weight of geopolitical uncertainties, notably the conflict between Russia and Ukraine, since Russia is the world's leading wheat producer. Also, the low Canadian dollar favoured Canadian exporters, making their prices more competitive.
Strategic positioning
The Port of Montreal continues to play a key role for Canadian grain producers thanks to its world-class infrastructure and strategic location. Producers in Canada's grain-growing regions benefit from an efficient, cost-effective supply chain to move their goods from Thunder Bay to Montreal. With direct access to two Class 1 rail networks (CN and CP), as well as to the St. Lawrence Seaway, the Port of Montreal guarantees seamless, competitive logistics, further enhancing its appeal to players in the grain industry.
Once at the port, exporters make the most of reliable maritime connections to such key markets as Europe, North Africa and the Caribbean.
Outlook for 2025: All set for sustained demand
Looking ahead, forecasts for 2025 are optimistic, and the beginning of the year is so far promising. Although this market segment is subject to the uncertainties of climate and geopolitics, global demand for Canadian wheat should stay robust, spurred on by quality and competitive exports. Agricultural production in Canada could also grow slightly.
The Port of Montreal remains well positioned to support Canadian producers and meet the demands of global markets. In collaboration with its industry partners, the Port continues to invest in innovative and resilient solutions to strengthen both its competitiveness and its strategic role in the grain trade.