Market News & Headlines >> Canada's Wheat Seedings Seen Down
The grain trade is looking for Canada’s 2016 all-wheat seedings to come in slightly below last year’s level and producers' April planting intentions, with canola plantings up from intentions and little changed from a year ago, when Statistics Canada releases the results of its crop acreage survey on June 29.
Trade estimates of all-wheat seedings, including spring wheat, durum and winter wheat average 23.4 million acres, down 2.9% from last year and 1.9% from planting intentions as forecast by StatsCan in April, in a range from 22.6-24.1 million acres, according to a survey of 13 traders and analysts by Reuters News Service. Wheat seedings are expected to be down due to lower wheat prices, while strengthening canola prices this spring likely boosted canola acreage.
Pre-report estimates of canola plantings average 20.1 million acres, unchanged from last year, but up 3.9% from the April planting intentions, in a range from 19.3-21.0 million acres. The trade canola acreage estimates are at odds with a June 17 estimate from Agriculture and Agri-food Canada, a separate government department, that canola area dropped 4% this year, as farmers planted more durum and pulse crops.