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Agriculture Canada forecasts total grain, oilseed, pulse and special crop exports at 36 million tonnes for 2021-22, down from 59 million last year and the smallest since 2006-07. Production of all crops is expected to fall 27 million tonnes due to drought, in line with Statistics Canada's satellite-based estimate of a 25 million tonne decline.
Canola exports are forecast at 7 million tonnes, versus 10.9 million last year.
Sharply lower Canadian exports force importers to source from Australia, the US, and elsewhere, supporting prices in competing origins. Canola meal and oil supplies to Japan, the US, China and Mexico tighten.
producer.comSean PrattAug 30, 2021Not enough comparable past events yet for a historical read.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
After 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% over 20.
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.
