StatsCan Shows Producers Shifted Away from Oilseeds

Posted on Mon, 06/29/2020 - 12:49

 Statistics Canada today estimated Canadian all wheat plantings at 24.971 million acres, which was a bit lighter than expected but still up 366,500 acres (1.5%) from 2019. Spring wheat plantings totaled 17.926 million acres according to StatsCan, which was a 4.6% retreat from the year prior. Durum plantings topped expectations at 5.689 million acres, which is a pretty substantial increase from the 4.9 million acres producers seeded to the crop in 2019.

“The increase in durum wheat area is attributable to favorable prices and low carry-out stocks from the previous crop year, comments MarketsFarm Editor Mike Jubinville. High carrying stocks of spring wheat likely limited acres planted to spring wheat, he said.

Barley plantings topped expectations, with acres now expected to climb roughly 100,000 acres from 2019 to 7.5 million.  

Jubinville says Statistics Canada confirmed “higher seeded areas of lentils, barley and durum wheat relative to last year, likely due to higher prices and better returns relative to other crops. In contrast, areas of crops such as canola and soybeans fell compared with 2019, possibly due to a shift away from oilseeds.”

StatsCan raised its canola planted acreage estimate a bit from April to 20.778 million, which was slightly higher than analysts polled by Reuters anticipated and around 178,000 acres lighter than 2019.

Soybean acres were pegged at 5.07 million for 2020, which was a bit lighter than expected and a 644,000-acre retreat from 2019.

Jubinville concluded, “No real shocking numbers here, but I did expect some further trimming on canola seeded area in favor of pulses, barley, oats and durum. I would have thought the wet conditions (seeding delays) for central and northern Alberta would have turned some intended canola acres to shorter season crops.”

Statistic Canada’s Crop Plantings Report

All wheat – million acres

StatsCan

25.0

Average est.

25.2

StatsCan April

25.4

StatsCan 2019

24.6

 

Durum – million acres

StatsCan

5.7

Average est.

5.5

StatsCan April

5.2

StatsCan 2019

4.9

 

Canola – million acres

StatsCan

20.8

Average est.

20.7

StatsCan April

20.6

StatsCan 2019

21.0

 

Barley – million acres

StatsCan

7.5

Average est.

7.2

StatsCan April

7.2

StatsCan 2019

7.4

 

Soybeans – million acres

StatsCan

5.1

Average est.

5.3

StatsCan April

5.2

StatsCan 2019

5.7