GENERALLY negative price sentiment followed the release overnight of the Statistics Canada report, as Canadian growers across all provinces revealed their actual 2017 wheat crop, though smaller than last year, was bigger than had been earlier expected.
The report was a catalyst for Thursday’s northern hemisphere wheat markets to continue the downtrend of the week.
Statscan’s November, and 2017 final, farm crop production survey of growers saw substantially higher estimates than the mid-season survey in August, particularly for wheat and canola and a smaller increase in estimated barley output.
Wheat production was estimated 30 million tonnes (Mt), having been forecast in August at 26Mt, and was 6 per cent (pc) less than last year.
Barley production was estimated 8Mt, having been forecast in August at 7Mt, and was 10pc less than last year.
Canola production was estimated 21Mt, having been forecast in August at 18Mt, and was 9pc more than last year.
Durum production was estimated 5Mt, 36pc less than last year.
Oat production, unchanged from August, was forecast 3.7Mt, 17pc more than last year.
View the CANSIM data table here
Source: Statistics Canada