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Statistics Canada's June field crop survey shows farmers planting 21 million acres of canola in 2019, down 8% from 2018. Acreage is set to rise for barley, corn, peas, lentils and oats.
The decline is attributed to lower canola prices linked to China's import ban and high global oilseed supply.
Smaller canola acreage tightens the outlook for canola seed and meal supply, supporting meal prices. Shifts toward barley and corn also affect feed grain balances in Canada.
ctvnews.caJun 26, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
