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Statistics Canada's September estimate put 2022 canola output at 19.1 million tonnes, up from 13.8 million in 2021 but below the previous four years. Hot, dry conditions cut yields in Alberta and southern and western Saskatchewan, while late seeding in Manitoba and eastern Saskatchewan also reduced potential.
Global supply is growing mainly from other producing countries.
A larger Canadian crop than 2021 eases supply tightness, but output remains below recent years, which supports canola prices. Growth from non-traditional origins also adds competition for Canadian exports.
canoladigest.caJay WhetterNov 2, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
