Just a note to make sure everyone is aware of yesterdays Statistics Canada seeding intentions yesterday. Full information can be found at:
http://www.statcan.ca/Daily/English/040629/d040629b.htm
I will leave questions about changes to these numbers because of seeding delays to others.
Canola acreage highlights bigger crop this year (7 to 8 MMT depending on weather). I think the export side is there to take delivery of the full crop but requires good sales/movement in the fall to China.
Barley is the other interesting one. Even with decent yields not a lot of barley to meet our domestic feed needs. The more important issues will be weather this summer (impact on amount of barley used as pasture/silage/greenfeed and yields) and the domestic feed consumption side (what happens to the cattle industry). As indicated in another thread, the international barley market will not provide the export opportunities it did last fall (bigger crops Europe). Starting to hear of prices delivered into middle east markets as low as US $100/tonne.
http://www.statcan.ca/Daily/English/040629/d040629b.htm
I will leave questions about changes to these numbers because of seeding delays to others.
Canola acreage highlights bigger crop this year (7 to 8 MMT depending on weather). I think the export side is there to take delivery of the full crop but requires good sales/movement in the fall to China.
Barley is the other interesting one. Even with decent yields not a lot of barley to meet our domestic feed needs. The more important issues will be weather this summer (impact on amount of barley used as pasture/silage/greenfeed and yields) and the domestic feed consumption side (what happens to the cattle industry). As indicated in another thread, the international barley market will not provide the export opportunities it did last fall (bigger crops Europe). Starting to hear of prices delivered into middle east markets as low as US $100/tonne.
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