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Corn Production Down Slightly from September, Soy Higher

Statistics Canada has bumped its estimate of 2022 Canadian soybean production slightly higher, with corn a bit lower. 

In its final crop production report for 2022 on Friday, the federal agency pegged national soy output at 6.543 million tonnes, up modestly from its September estimate of 6.505 million and 4.3% above a year earlier. On the other hand, corn production is now estimated at 14.538 million tonnes, compared to 14.861 million in September but still up 4% from 2021. 

Today’s crop production was based a survey of sent to approximately 27,200 Canadian farms between Oct. 7 and Nov. 14. StatsCan’s crop production estimates released in August and September were model-based projections that incorporated satellite imagery. 

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