StatsCan production report: canola and wheat production down but soybeans production up big


StatsCan released its production estimates for principal field crops and not surprisingly the estimated production is down in comparison to 2016.

You can find the entire StatsCan report here

Here is how some market analysts reacted to the report. There is some doubt as you would expect on some of the numbers released.

Brian Voth provides a full table of the report to get a better understanding of what StatsCan is saying and how it compares to the past three years.

A look at comparing 2017 to 2016.  Wheat down 19.5% and canola down 7.2%.  Remember this is a lower canola estimate with potentially record acres.

The spring wheat future reacts to the Statscan wheat estimates.

In regards to the durum estimate which was much lower than the market expectations.  StatsCan is estimating a decline in durum prouction of 49.8%.

There will be much debate on the canola production estimate. Canola will no doubt have the most variable yield due to heat and drought stress. Many farmers complained of short flowering windows this year which are not indicative of high yields.

Chick Penner gives more fuel to teh canola production number discussion because as he shows, StatsCan has a history or budgeting low in August.

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