Canadian Farmers May Harvest Less Wheat & Canola

Canadian wheat growers will probably reduce output by 26% this year, and canola production also will fall, the government’s statistics agency said in late August.

Wheat production will drop to 27.7 million metric tons from a record 37.5 million in 2013, Statistics Canada said in a report, and the country’s canola harvest will fall 23% to 13.9 million tons. Analysts had forecast 14.8 million.

Canadian farmers see output at “more normal levels” in 2014 after record spring-wheat, durum and canola crops last year, Statistics Canada said.

The report is “mildly bullish” for canola, as there may not be enough supplies to maintain the current level of exports and domestic processing, said John Duvenaud, publisher of Wild Oats Grain Market Advisory.

Canada’s spring-wheat output will drop 27% to 20 million tons, while durum will fall 24% to 4.95 million tons. Soybean production is expected to increase to 5.9 million tons, surpassing the all-time high of 5.2 million tons a year earlier, the government agency said.

Statistics Canada said it interviewed about 12,850 farmers from July 23 to Aug. 4. S