Canola production in Western Canada this year dropped to a level not seen since 2015, according to Statistics Canada’s final crop report of the year, published on Thursday (Dec. 3).
The agency said national canola production fell from 19.6 million tonnes in 2019 to 18.7 million tonnes in 2020, as the average yield decreased 3.1 per cent to 40.1 bushels per acre, and harvested area fell 1.6 per cent to 20.6 million acres.
The canola estimate came in lower than the market was expecting, and about 700 thousand tonnes below StatsCan’s 19.4 million tonne projection in September.
While the canola estimate was bullish, StatsCan’s all-wheat number was bearish, coming in higher than expected, at 35.2 million tonnes, led by higher durum and winter wheat production. The agency projected 34.1 million tonnes in September.
Corn production was up slightly from last year, but below trade expectations at 13.6 million tonnes, with an estimated yield of 163.9 bushels per acre in Ontario — up 3.5 per cent from last year.
Soybean production was up 3.5 per cent nationally, led by a 15 per cent(!) increase in Ontario’s soybean yields, which StatsCan projected at 50.7 bushels per acre. Manitoba soybean yields also jumped, albeit from a poor yield last year, up 27.7 per cent to 37.3 bushels per acre. Soybean yields in Quebec were up 3.9 per cent to 48.4 bushels per acre.
You can find all the estimates, including all the crops not mentioned here, on the StatsCan website.
The report was based on a survey of around 26,800 farms conducted between October 9 to November 15, 2020. The numbers can be revised for up to two years.
Brian Voth of IntelliFarm will discuss grain markets, including the StatsCan report, on RealAg LIVE! Friday afternoon at 2pm central. Check out his summary chart below:
Deeper analysis of the Stats Can numbers.#statscan #grainmarketing #marketing #riskmanagment #cdnag #westcdnag pic.twitter.com/pn5etblygx
— IntelliFARM Inc (@IntelliFARMInc) December 3, 2020
