PREVIEW-Canadian farmers trim wheat, canola areas in wet spring-trade

By Rod Nickel

WINNIPEG, Manitoba, June 22 (Reuters) – Soggy spring conditions in key crop-growing areas of the Canadian Prairies left farmers unable to plant as much as they intended, but canola seedings still look record-large, according to a Reuters survey of 16 traders and analysts ahead of a government report next week.

Statistics Canada will release its planted acreage survey on June 29.

Wet weather made fields sloppy in Alberta’s Peace River region, and in northeastern Saskatchewan, but the extent of unplanted land was not as great as some predicted, said Alyssa Mistelbacher, market analyst at FarmLink Marketing Solutions.

“It’s around the margins, not going to be earth-shattering,” she said of the quantity of land that was too wet to plant.

“Conditions overall on the Prairies, besides those really wet pockets, are looking really good.”

The average of the Reuters survey showed canola seedings at a record large 22.2 million acres, up nine percent from last year, but down 0.8 percent from StatsCan’s April seeding intentions survey.

All-wheat plantings, including spring wheat, durum and winter wheat remaining from planting last summer, are estimated, on average, at 22.7 million acres, down two percent from last year and from StatsCan’s April report.

They would be Canada’s smallest wheat area in six years.

Canada is one of the world’s biggest wheat exporters and the largest canola exporter.

Actual wheat and canola plantings are likely to be slightly smaller than StatsCan’s estimates next week, as some farmers told StatsCan’s surveyors they planned to plant the crops, but ran out of time before seeding deadlines to qualify for crop insurance, said Chuck Penner, analyst at LeftField Commodity Research.

StatsCan surveyed farmers from May 26 through June 12.

The following are trade estimates for Statistics Canada’s report on 2017 crop planting:

Mln acres Avg estimate lowest highest StatsCan April Intentions StatsCan final 2016
All Wheat 22.7 21.7 23.5 23.1817 23.212
Durum 5 4.9 5.1 5.145 6.19
Canola 22.2 20.9 22.9 22.3871 20.3671
Oats 3.4 3.1 3.5 3.419 2.8343
Barley 6 5.6 6.4 5.88 6.3901
Peas 4 3.8 4.2 3.989 4.239
Flax 1 0.9 1.2 1.115 0.935
Corn 3.6 3.2 3.7 3.7511 3.3246
Lentils 4.4 4.2 4.9 4.385 5.86
Soybeans 7 6.9 7.4 6.9556 5.4671

About the author


Markets at a glance

Copyright © 2019. All market data is provided by Barchart Market Data Solutions. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.


Stories from our other publications