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Farmers Yield Record Harvest, Statistics Canada

By Amanda Brodhagen, Farms.com 

Canadian farmers yielded records crops this year, according to a Statistics Canada report.

The report said that while farmers had a late start to planting, good weather led to higher than normal yields for canola, wheat and soybean growers.

Canola and wheat production reaches record levels

Here are the highlights:

  • ? Canola increased 29.5 per cent from 2012, 18.0 million tonnes
  • ? Wheat increased 38.0 per cent from 2012, 37.5 million tonnes
  • ? Barley increased nearly 28 percent from 2012, 10.2 million tonnes

Corn and soybean production also set records

  • ? Corn increased 8.7 per cent
  • ? Soybeans were up 2.2 per cent 

The good news is that farmers’ crops yielded well. The bad news is that they are unable to move their grain fast enough, delaying overseas shipments and missing out on market opportunities.  This situation is especially true for growers in western Canada, who say there is a shortage of rail cars available to transport grain to the ports. 


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The 12-day war between Iran-Israel came to an end sending crude oil futures plunging as the big fund speculators removed the war risk premium.

The weather risk premium in the Ag complex is sending corn, wheat and soybean futures lower on month-end selling ahead of the market moving USDA quarterly grain stocks and acreage reports on June 30th.

Instead, funds were chasing and sending tech stocks higher with the S&P 500/NASDAQ indexes setting new all-time record highs!

June 1 USDA Hogs and pigs report was slightly bearish while the U.S. $ Index traded to new contract lows as the de-dollarization that began in 2014 continues.

Feed in the form of soybean meal futures for livestock producers got cheaper, trading to new contract lows.

The Stats Canada seeded acreage update was bullish canola and wheat.