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Statistics Canada's September report forecast 2017 canola production at a record 19.7 million tonnes from 22.8 million acres, though yields are estimated lower at 38.1 bu/ac. Seed exports reached 11 million tonnes in 2016-17, with China as the top market.
StatCan will release a revised estimate on December 6.
A record Canadian crop and large export flows keep canola supplies ample, weighing on canola meal prices. The December 6 StatCan revision could shift the balance if the crop comes in above or below 20 million tonnes.
canoladigest.caJay WhetterNov 7, 2017Not 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.
