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CANADIAN SOYBEAN ACREAGE UP SLIGHTLY – DOWN IN ONTARIO & QUEBEC – AGCAN

on August 2 | in Tek Talk | by | with No Comments

From Outlook for Principal Field Crops

For 2015-16, the area seeded to soybeans in Canada is forecast to rise by 2% as the focus of the crop continues to shift westward.

Soybean area in the eastern province of Quebec is forecast to fall by 10%, to 0.32 million hectares while the area seeded in the prairie provinces of Manitoba and Saskatchewan rises to 0.54 million hectares and 0.12 million hectares, respectively.

In Ontario, soybean area is estimated at 1.19 million hectares, down from the 1.24 million hectares planted in 2014-15. Canadian production is forecast to decline by 4% to 5.8 million tonnes.

Supplies are forecast to be lower, down 4%, as lower carry-in stocks complement the drop in output. Exports are forecast to fall by 0.2 million tonnes on the tighter domestic supplies while crush volumes are unchanged at 1.6 million tonnes. Carry-out stocks are forecast to decrease slightly. Canadian prices are forecast to decrease under pressure from lower US and world prices with the losses moderated by the lower Canadian dollar.

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