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Nation Corn Production Estimate Larger from August; Soybeans Little Changed

This year’s Canadian corn crop, already record large, has gotten even bigger, while the soybean crop was little changed. 

Statistics Canada second crop production report for the 2023 growing season on Thursday estimated the national corn crop at 14.93 million tonnes, up from the federal agency’s initial forecast of 14.72 million in August and 2.7% above last year. If accurate, it would push the crop even further above the previous high of 14.61 million achieved in 2021. Meanwhile, soybean output was reported at 6.72 million tonnes, compared to 6.73 million last month, but also 2.7% higher on the year. 

At 3.7 million and 5.5 million acres, corn and soybean harvested area was largely steady from the August report. 

The national corn yield was bumped up to 158.3 bu/acre from 156.1 bu in August but remains below last year’s 160.4 bu average. At 44.2 bu/acre, the average soybean yield was trimmed 0.1 bu from last month and is also below the year-earlier level of 45.9 bu. 

In the No. 1 production province of Ontario, corn output is seen at 9.74 million tonnes, up from 9.56 million in August and 3.2% above last year. The average yield in the province was revised up to 172.9 bu/acre from 169.7 bu last month but still down from 175.2 bu two years ago. The soybean crop was reported at 3.98 million tonnes, steady from August with the average yield holding at 50.5 bu/acre, up from 48 bu in 2022. 

Quebec corn production, at 3.44 million tonnes, is up slightly from 3.41 million in August but down 3.2% on the year. The average yield is now projected at 151.9 bu/acre, compared to 150.4 bu last month and 158.3 bu a year earlier. Ther province’s soybean crop is pegged at 1.26 million tonnes, with an average yield of 46.5 bu/acre, down slightly from 46.8 bu last month but up from 43.7 bu in 2022. 

Manitoba corn production is estimated at 1.5 million tonnes this month, down slightly from August – but up 12.8% on the year - as the average yield was lowered to 111.8 bu/acre from 112.5 bu. At 1.37 million tonnes, the province’s soybean production estimate was steady from August, with the average yield unchanged at 32.1 - down from 43 bu in 2022. 

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