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MarketsFarm reports Canadian farmers are expected to plant less canola and more barley in 2019, ahead of Statistics Canada's seeded area estimates. Traders estimate barley acres at 7.0 to 7.5 million, versus 6.493 million grown in 2018-19 and 7.155 million in March estimates.
Canola acreage is expected to fall below April estimates due to China's block on Canadian canola.
Higher barley acreage and strong barley prices after a US weather-driven feed grain rally point to adequate supply later, while smaller canola area tightens meal supply for feed buyers and supports canola meal prices.
country-guide.caMarlo GlassJun 24, 2019Not enough comparable past events yet for a historical read.
Not 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.
