Ottawa | Reuters – The Canadian economy most likely underperformed expectations in the third quarter amid ongoing supply chain woes and a brutal drought, official data suggested on Friday, prompting analysts to forecast the Bank of Canada could move slower on rate hikes. The economy expanded by 0.4 percent in August, missing estimates, and looked […] Read more
Tag Archives statistics canada
Canada economy seen weaker than expected as supply chain woes weigh
Farm revenue reaches record levels
Ontario fares well but drought could decrease value of year-end receipts nationally
Glacier FarmMedia – Canada’s agricultural producers enjoyed record revenues in the first six months of 2021, thanks to high commodity prices, brisk sales and strong global demand for agricultural products. According to Statistics Canada, total farm cash receipts across the country exceeded $38.2 billion in the first six months of 2021, a year-over-year increase of […] Read more
StatsCan reduces yield projections for soy, increases corn yield
Satellite-based modelling may not reflect true potential for soy, as field and crop tours show yields should be higher
Ontario and U.S. corn and soybean production estimates have been raised since last month. Statistics Canada released its satellite model crop estimates based on conditions in late August. The Ontario corn yield was raised by 9.7 bu./acre from the August release and Statistics Canada trimmed the Ontario soybean estimate but it is important to realize […] Read more
Grains council tweaks numbers in latest supply and demand data
MarketsFarm — The International Grains Council (IGC) released its monthly supply and demand report Thursday, projecting a six million-tonne increase in total global grain production at 2.289 billion tonnes in 2021-22. That change consisted of a seven million-tonne increase in global corn production, offset by a one million-tonne decrease in world wheat output. Soybean production […] Read more
Statistics Canada yield estimates useful for market predictions
Hurricane Ida, good Canada and U.S. soybean crops factor into projections
Statistics Canada released its first yield and production estimate on Aug. 30. Satellite technology was used to model crop yields as of July 30 and the actual harvested area was based on historical averages. Winter wheat production came in at 2.6 million tonnes, which is the largest crop since 2016. Corn output could reach a […] Read more
Interview: Counting crops in advance
Reviewing the latest from StatsCan and USDA
Statistics Canada on Tuesday released new model-based estimates for the country’s principal field crops, projecting “substantial” yield declines for most of the major crops grown in Canada, due mainly to drought conditions across much of Western Canada during much of the growing season. The previous Friday, the U.S. Department of Agriculture released its latest world […] Read more
ICE weekly outlook: Canola remains rangebound
Trade predicts even smaller production
MarketsFarm — At least for the foreseeable future, ICE Futures canola is likely to remain rangebound, according to analyst David Derwin of PI Financial in Winnipeg. The November canola contract has support at $850 per tonne and when it bumps up to around $900 it’s quickly pulled back, he said. “Sideways is not very exciting, […] Read more
U.S. grains: Wheat firms on global supply cuts
Corn inches higher as U.S. crop ratings decline
Chicago | Reuters — Chicago wheat futures firmed two per cent on Tuesday, strengthened by global supply concerns amid strong demand, while a weaker U.S. dollar supported U.S. trade. Corn inched higher after a weekly decline in U.S crop conditions reported by the U.S. Agriculture Department (USDA). Soybeans traded both sides of even before easing […] Read more
Pulse weekly outlook: Small Canadian crops lead to marketing shift
MarketsFarm — Canadian pulse markets could see a ‘radical shift’ in the current crop year as drought conditions led to sharp reductions in pea and lentil production. Statistics Canada’s September principal field crop estimates, released Tuesday, and the previous report on Aug. 30 were determined by yield models using satellite imagery. MarketsFarm Pro analyst Mike […] Read more
Prairie crops downgraded in latest StatsCan estimates
Corn, soybean crops upsized from previous report
MarketsFarm — Drought conditions across Canada’s Prairies cut into yields throughout the region in 2021, with production of most of the major crops downgraded by Statistics Canada in updated crop estimates released Tuesday. Using satellite imagery, the government agency now sees total canola production for the 2021-22 crop year at 12.78 million tonnes, which compares […] Read more
Cyber-Savvy Farmer
