Active export increases the price of canadian canola
a Canadian government Committee (Agriculture and Agri-Food Canada) has raised its forecast for canola exports in the 2016/17 season on 500 thousand tons to 10.5 million tonnes, but lowered the estimate for ending stocks of oilseeds to 600 thousand tons In the current season the volume of processing canola has grown from 6.1 million tons to a record 7 million tonnes, while the average of the last five years is 5.5 million tons.
due to the delay in the sowing campaign and thanks to strong export prices for canadian canola strengthened. The Ministry of agriculture of Canada predicts that in the new season, prices will increase to CAD $ 510-540/MT (378-400 $/t) vs CAD 505-535/MT in the season 2016/17 and 509 CAD/t in 2015.
in addition, the Ministry increased the forecast of wheat production in Canada in season 2017/18 MG from 28.6 million tonnes to 29.5 million tonnes, of which wheat – 23.8 million tonnes, rigid – 5.7 million tons (against 7,762 million tonnes in the current season).
wheat Exports will increase by 5% to 16.2 million tons of wheat and 4.7 million tons of solid.