StatsCan tables larger-than-expected canola and wheat production numbers

Statistics Canada published higher-than-expected estimates for several major Canadian crops in its crop production report on Wednesday.

The report includes the final production estimates for 2017 (although they can still be revised for two years.)

For canola, StatsCan estimates production of 21.3 million tonnes, up from 19.7 million in the September StatsCan report and 19.6 million last year. The average trade estimate prior to the report was 20.2 million.

The agency also exceeded expectations with its all-wheat estimate of 29.98 (rounded off to 30.0) million tonnes, up from 27.1 million in September. The pre-report estimate was 28 million.

Soybean production was estimated at a record 7.7 million tonnes — below the average trade guess of 8.1 million.

Corn production was pegged at 14.1 million tonnes, in line with analysts’ expectations.

The report is based on a survey of 26,800 farms conducted between October 20th and November 13th.

 

 

Kelvin Heppner

Kelvin Heppner is a field editor and radio host for RealAgriculture and RealAg Radio. He's been reporting on agriculture on the prairies and across Canada since 2008(ish). He farms with his family near Altona, Manitoba, and is on Twitter at @realag_kelvin. @realag_kelvin

Trending

Wheat prices jump into August — This week in the grain markets

This week, winter wheat prices touched a three-year high, but it didn’t last. Chicago SRW wheat prices for September 2018 gained 5 per cent or about 26 cents US/bushel to close at $5.56. While the December 2018 contract was up 5.4 percent — or nearly 30 cents — to finish a tad under $5.80. In…Read more »

Related

Leave a Reply

 

This site uses Akismet to reduce spam. Learn how your comment data is processed.