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Statistics Canada's updated acreage estimates put 2019 canola plantings at 20.952 million acres, down about 300,000 from March and below last year's 22.813 million. Durum area fell to 4.894 million acres, while barley and oats came in at the high end of expectations.
Total wheat area was 24.595 million acres.
Lower canola and durum area tightens those supplies, while higher barley and oat plantings add feed grain supply, roughly in line with trade expectations.
agcanada.comAGCanadaJun 26, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 72 past bearish report events, Oats moved a median +0.2% over 5 sessions (50% higher; middle half -3.7% to +3.8%), and -2.5% 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.
