StatsCan Shares Another Christmas Head-Scratcher for the Canola Market

by

Opinion

Haven’t we seen this before? Traders and analysts were expecting Statistics Canada to peg the 2015 canola crop at around 15.6 million tonnes in the agency’s latest production report released Friday morning. Pre-report guesses ranged between 14.5 and 16.4 million. Most farmers reported better than expected canola yields at harvest, so everybody was expecting the number to rise from the 14.3 million figure reported by StatsCan in October, but not this high. 17.2 million tonnes of canola was produced in Canada with an average yield of 38 bu/acre this past growing season , according to the December StatsCan report. “It…

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