Canada will reduce the production of rapeseed and increase the wheat production
According to a new report, StatCan, rapeseed production in Canada this year will be reduced by 3.3% to 20,343 million tonnes, while analysts expected a forecast since the previous report to decline by only 200 thousand tons to 20.8 million tons.
the Yield and quality of rapeseed has deteriorated due to high temperatures and lack of precipitation in the early growing season, as well as powerful snowfalls and unusually low temperatures during harvest, reports StatCan.
the assessment of the production of wheat increased in comparison with the previous report to 31 31,769 million tonnes against expected experts 31.5 million T.
Rainfall in late summer reduced the yield of wheat compared to last year by 2.6% to 3.22 t/ha, which will be a two year minimum. However, due to the increase in acreage total yield of canadian wheat is 6% higher than a year ago.
it is Expected that the production of barley in comparison with last year will increase by 6.1% to 8.38 million tonnes, although analysts had predicted it unchanged at 8.2 million tons.
Assessment of corn production was reduced to 13.9 million tons, against the forecast in September of 14.6 million tonnes and 14.1 million tonnes last year.
Forecast soybean production was lowered from 7.5 to 7.3 million tonnes, which corresponds to the lower boundary of trader expectations.