Statistics Canada estimates a record 22.4 million acres of canola will be seeded in 2017-18. This is up 10% or 2.0 million acres more than last year.
All Wheat seeded area is virtually unchanged at 23.2 million acres, which was just above the highest pre-report trade estimate of 23.0 million acres.
Barley area is down 8% at 5.9 million acres compared to 6.4 million acres last year.
Spring Wheat area is up 8% at 16.7 million acres compared to 15.4 million acres last year.
Oat area is up 21% at 3.4 million acres compared to 2.8 million acres last year.
Durum area is estimated to decrease 17.0% to 5.1 million acres.
We now look for the markets to turn their attention to demand, seeding progress & weather conditions.
(Related: For a limited time, $7 gives you access to sell recommendations for 7 commodities of your choice for 77 days. CLICK HERE to learn more.)
Have any questions or comments about this article? Feel free to comment below or email your questions to email@example.com.