The June StatsCan report says Canadian farmers planted more canola at 22.5 million acres. That’s an increase of one million acres from the April estimate. IntelliFarm market analyst Brian Voth says that’s as expected. “Most of the trade in April thought the original canola number was too low. This report confirmed those thoughts. It’s a big change, but not unexpected.” The all-wheat and spring wheat acres were also in-line with trade estimates. Voth also says the recent uptick in canola prices are due to the hot and dry forecasts in the country. “It is extremely hot in British Columbia and parts of Alberta. That’s moving east into Saskatchewan and Manitoba, taking a toll on many crops.”
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