The market did not react to the acreage survey report that Statistics Canada released Wednesday morning.
Winnipeg July canola was up $2.80 per tonne at mid-morning and November was up $3.30. Chicago July oats were up 0.5 cents US per bushel.
The survey was conducted in late May and early June, which meant it reflected growers’ thoughts before the heavy rain that prevented much seeding in June.
Statistics Canada recognized this in its report.
“As a result of continued inclement weather in Western Canada, estimates of planted areas may change considerably in the July farm survey, the results of which will be released on Aug. 20,” the report said.
The report put canola area at 17.89 million acres, up 10.5 percent from last year. The trade believes a more realistic number is 15 to 16 million acres.
Statistics Canada put all wheat acres at 22.72 million. The Canadian Wheat Board on June 11 forecast 19.15 million.
Durum was pegged at 3.49 million acres, while the wheat board forecast 3.4 million.
The report put barley acres at 8.052 million; the wheat board forecast 6.6 million.
Oats acreage in the report is 3.738 million. OatInsight’s Randy Strychar pegs the acreage at 3.302 million.
Other Statistics Canada survey numbers include:
Peas – 3.795 million acres
Lentils – 3.36 million acres
Flax – 1.285 million acres, down 17.6 percent from last year
Dry beans – 326,000 acres
Fall rye – 225,000 acres
