Canada: estimates for wheat and canola crops are lowered

Statistics Canada lowered in its latest report its forecast for wheat crop in Canada to 25.54 million tonnes, by 700,000 tonnes less than expectations and by 19.5% less than in 2016.

Spring wheat crop will be 18.89 million tonnes (-7.7%), but it is above market expectations. A more significant decrease was recorded in winter wheat - 50% to 3.89 million tonnes, which is a 7 years low. IGC estimates this indicator at 4.5 million tonnes.

Production of canola is estimated at 18.2 million tonnes (-1.4 million tonnes) despite a record expansion of the areas.