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Analysts expect Canadian farmers to seed record canola acres in 2017, with trade estimates ranging from 20.3 to 22.5 million acres versus 20.4 million in 2016. Wheat area is expected to fall by at least a million acres, with the largest drop in durum.
The forecasts precede Statistics Canada's first survey-based acreage estimate.
Expectations of larger canola supply weigh on canola meal, while expected wheat and durum acreage cuts are supportive for those grains. Actual results from the Statistics Canada release will determine the price move.
farmtario.comPhil Franz-WarkentinApr 17, 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.
