Canola acreage in today’s Statistics Canada acreage survey report it at the high end of the range of traders’ pre report forecasts. It appears farmers shifted barley and durum area into canola.
StatsCan surveyed farmers between May 28 and June 7. There have been heavy rains since then and some intended acres might not have been seeded and other seeded area might have been flooded.
Producers reported they had planted or intended to plant a record 21.27 million acres to the oil seed.
Traders and analysts surveyed by Reuters on average expected 20.9 million acres of canola, up from the StatsCan March prospective planting survey forecast of 20.4 million. The range of traders’ forecasts was 20.2 million to 21.7 million.
Read Also
Draft ‘MAHA’ commission report avoids pesticide crackdown feared by farm groups
The White House will not impose new guardrails on the farm industry’s use of pesticides as part of a strategy to address children’s health outcomes, according to a draft obtained by Reuters of a widely anticipated report from President Donald Trump’s ‘Make America Healthy Again’ commission.
Last year farmers seeded 18.86 million acres.
However, canola futures are up Wednesday (June 27) morning, lifted by soybeans that are rising along with corn on worries about baking hot dry weather in the U.S. Midwest sapping yields. Temperatures in the Midwest are peaking over 100 F, or in the high 30s C.
At about 10:10 a.m. CST July canola is trading at $645, up $14.
November is trading at $593.70, up $9.60.
The StatsCan report put all wheat area at 23.81 million acres, very close to 23.9 million acres forecast in the Reuters traders’ survey. Last year’s all wheat number was 21.46 million acres.
Of that spring wheat area is 17.04 million acres, up from last year’s 15.76 million.
Durum area in the report is 4.71 million acres, a little less than the Reuters survey of 4.9 million. That is up from last year’s 4.02 million.
Winter wheat area is pegged at 2.07 million acres, up from last year’s 1.69 million.
Barley area is a lot less than expected. Today’s report puts it at 7.37 million acres. That is up from last year’s 6.47, but shy of the 7.9 million that traders expected and less than what farmers said they intended to seed in StatsCan’s spring planting intentions report.
Pea area in today’s report is 3.5 million acres, up a little from pre report estimates and up from last year’s 2.33 million.
Oats are pegged at 3.07 million, a little less than pre report expectations and down from 3.11 million last year.
Lentil acreage is 2.61 million, similar to last year’s 2.57 million.
Flaxseed acreage is 1.07, similar to the pre report guesses but up 54 percent from last year’s 695,000 seeded area.
Summerfallow area is 3.86 million acres, even less than the exceptionally low 3.97 million that farmers said they would fallow in StatsCan’s March seeding intentions report. In 2011 there were 12.41 million acres summerfallowed, a particularly large area because of excess moisture.
