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Farmers expected to seed more wheat in 2024 and less canola

Stats Can released its Principal Field Crop estimates for 2024 this week.

Canadian farmers are expected to plant more wheat, corn for grain, oats, lentils and dry peas in 2024, while the area seeded to canola, soybeans and barley is anticipated to drop compared with 2023 levels.

Nationally, wheat acres are expected to hit 27 million acres up slightly from last year, with 19.2 million acres of spring wheat, 1.5 million acres of winter wheat and 6.3 million acres of durum wheat.

Saskatchewan's acreage is anticipated to hit 14.2 million acres. 

Spring wheat is expected to drop to 8.9 million acres, while durum acres are expected to increase 5.3 per cent to 5.2 million acres.

In Alberta, the total wheat area is expected to be around 8.1 million acres, with 6.9 million acres of spring wheat and 1 million acres of durum.

Manitoba farmers are expected to seed about 3.3 million acres of wheat.

You'll find the complete Stats Can report here.

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Review of 2023/24 USDA February WASDE report results Old and new crop corn and soybean balance sheet forecasts Export sales pace comparisons to previous years South American soybean production estimates Impact of input costs and interest rates on marketing Benchmarking farm-level marketing performance As grain prices face downward pressure in 2024, the presenters emphasized the importance of having an active marketing plan in place, rather than a 'store and ignore' approach. They provided insight into strategies for forward contracting, making new crop sales, and capturing opportunities in a volatile market environment.

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