Agriculture Canada is projecting a slight decline in Canadian corn acres this year but an increase in soybean plantings.
In its first supply-demand estimates for the upcoming 2026-27 marketing year on Wednesday, Ag Canada pegged national corn planted area at 3.75 million acres, down 0.7% on the year. Meanwhile, new-crop soybean acres are seen at 5.93 million acres, an increase of 2.6%.
Despite the small decline in planted area, Ag Canada is forecasting a 2.2% increase in total corn production to 15.2 million tonnes due to a higher average yield of 163.1 bu/acre, versus 162.2 bu in 2025.
The 2026-27 Chatham average corn price is projected at $220/tonne, unchanged year-over-year, as higher expected US corn prices are partially offset by an appreciation of the Canadian dollar, Ag Canada said.
Nationwide soybean output is seen expanding nearly 12% from last year to 7.6 million tonnes in 2026, potentially the largest Canadian crop since 2017 at 7.71 million.
The average soybean yield is estimated at 47.1 bu/acre, up from the 2025 average of 43.5 bu.
Ag Canada attributed the higher soybean planted area forecast to lower input costs and reduced profitability of other crops due to high input costs and falling prices.
However, the simple average 2026-27 soybean price forecast, track Chatham, is $500/tonne, down $15 from the previous year and 15% below the five-year average of $590.
After a monster corn crop in 2025, US producers are also widely expected to cut back on corn and increase soybean plantings in 2026.
Click here to see more...