Forecasts the production of wheat and canola in Canada reduced

the Experts at Statistics Canada have reduced production forecasts of wheat and canola in Canada in 2019 due to the delay of development of crops, which increases the risk of frost damage.

In comparison with the previous report forecast of production of canola has reduced from 19.4 to 18.45 million tonnes, 9.3% yield as last year, but corresponds to the level of expectations of market participants is 18.5 million tons, therefore, has no impact on stock prices. USDA production estimates for canola at 20.1 million tons.

the Forecast of wheat production decreased from 32.4 to 31,25 million tonnes, 2.9 percent to give the index of the previous year. In particular, the forecast of a crop of durum wheat decreased from 5.8 to 4.42 million tons, which is 23% below last year's level.

it is Also expected that soybean production in Canada will decrease in comparison with last year, from 7.25 to 6.2 million tonnes, and maize - from 13.88 to 13.6 million tons.