StatsCan estimates sharp drop in crop production due to drought


Stats Can is estimating a sharply reduced crop this fall due to widespread drought.

Nationally, wheat production is forecast to drop 35 percent to 22.9 million tons while canola will decline 24 percent to 14.7 million tons.

In Saskatchewan, all crops except Mustard are down 20 to 40 percent, Mustard is up 3 percent due to larger seeded area.

In Saskatchewan, wheat production is estimated at 9.7 million tons, a drop of 39 percent.

Canola production in this province is forecast to decline 33 percent to 7.4 million tons.

Lentils will drop 28 percent, field peas down 40 percent, barley declines 23 percent and oats and canaryseed down 35 percent.

P.I. Financial Commodity futures advisor Adam Pukalo says there are no big surprises in the StatsCan report and the market has already factored in the reduced production in prices.



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