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Canadian farmers expanded canola plantings this spring to 22.5 million acres, up 1 million acres, according to Statistics Canada. Extreme drought covers much of Manitoba and moderate to severe drought affects most of Saskatchewan, with high temperatures forecast.
Crop stress is already visible in canola, oats and corn.
Drought threatens Canadian canola yields despite larger plantings, which tightens expected supply of canola meal used in feed and supports prices.
agweek.comJenny SchlechtJun 29, 2021Not 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.
