Yields often better than expected

On Friday, Statistics Canada will release a new production estimate for Canadian grains, oilseeds and specialty crops. Analysts have been widely predicting that production for most crops is going to be significantly higher than earlier estimates. Based on what I’m hearing from farmers in various regions, the crop does seem to be turning out better than anticipated. There are reports of some amazing yields – canola at over 50 bushels an acre, durum and field peas at over 60 bushels an acre. While people tend to report their top yields, rather than their average yields, the crop seems to be getting bigger as harvest proceeds. Market analysts often say that big crops tend to get bigger as more information is available. Even in the areas hit hard by drought, producers are often finding more bushels than they anticipated. When the Stats Can numbers come out, there will be debate over whether all the bullish yield information has been captured. There’s always a significant lag between when the data is collected and when the report is released. In any event, rising production estimates are never good for prices and that’s likely what we’ll see on Friday. I’m Kevin Hursh. For information about yields in your area, contact your local DynAgra retail. 1.800.941.4811