Market News & Headlines >> Canada's Wheat, Canola Output Rebound
Canada’s 2022 wheat crop will be up more than 55% from last year’s drought-stricken crop, while the country’s canola output will rise nearly 42%, according to preliminary Statistics Canada (StatsCan) estimates based on recent yield model estimates using satellite imagery and agroclimatic data.
In a report released on Monday morning, StatsCan pegged Canada’s 2022 all-wheat production at 34.6 million metric tons, estimating the country’s average all-wheat yield at 51.1 bushels per acre, up 41.6% from last year. Harvested area was seen rising 9.4% from last year to 24.9 million acres. Most of the expected increase is in spring wheat production, which is expected to rise 57.3% to 25.6 million bushels.
Canada’s 2022 canola production is expected to rise by 41.7% to 19.5 million metric tons in 2022 with growing conditions in the Canadian Prairies much improved from 2021, StatsCan said. Canada’s average canola yield was estimates at 40.5 bushels per acre, up 47.8% from last year.
Canada’s 2022 corn production is forecast to rise 6.0% to 14.8 million metric tons on a 2.3% increase in the national yield and a 3.6% increase in harvested acreage. Canadian soybean production is seen rising by 1.8% from 2021 to 6.4 million metric tons on a 3.7% increase in the national yield, with harvested acreage seen down 1.7%. Canada’s barley and oats crops are also expected to rise versus last year.
StatsCan will conduct field surveys of production in November and releasee final survey-based production estimates for 2022 on Dec. 22.