Canola Crop Proves Resilient as RBC Sees Price Declines
The canola crop on Gerry Gross’ 1,200-acre farm in Outlook, Saskatchewan, is proving resilient. Yields will probably be the same as last year, even after heavy rain dumped 2 inches (5.1 centimeters) of water on plants in June, says a post from Bloomberg.com.
“It’s a gorgeous crop,” Gross, 62, said during an interview in Saskatoon, Saskatchewan, as he held up his smartphone to displays a photo of his dense, yellow field. “The whole farm looks beautiful.”
Dry conditions in July helped some fields recover from record rainfall the prior month across growing areas in Canada, the world’s biggest canola producer. Improving weather combined with a better production outlook for fields that were outside the floodzone means that this year’s yields are poised to be higher than the five-year historical average, a CWB crop tour showed last week. Ample supplies may drive futures to a four-year low, RBC Dominion Securities forecasts.
The canola crop on Gerry Gross’ 1,200-acre farm in Outlook, Saskatchewan, is proving resilient. Yields will probably be the same as last year, even after heavy rain dumped 2 inches (5.1 centimeters) of water on plants in June, says a post from Bloomberg.com.
“It’s a gorgeous crop,” Gross, 62, said during an interview in Saskatoon, Saskatchewan, as he held up his smartphone to displays a photo of his dense, yellow field. “The whole farm looks beautiful.”
Dry conditions in July helped some fields recover from record rainfall the prior month across growing areas in Canada, the world’s biggest canola producer. Improving weather combined with a better production outlook for fields that were outside the floodzone means that this year’s yields are poised to be higher than the five-year historical average, a CWB crop tour showed last week. Ample supplies may drive futures to a four-year low, RBC Dominion Securities forecasts.
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