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Canadian Spring Wheat Yields Looking Better Than Expected
USAgNet - 09/12/2017

Canada's spring wheat harvest could be larger than expected, adding to ample global supplies, crop analysts said, but quality has been variable, keeping stocks of wheat for making bread in tight supply. Statistics Canada on Aug. 31 put the country's total wheat crop at 25.5 million tonnes, a six-year low. But analysts expect that figure, based on farm surveys conducted in late July, to rise in subsequent reports.

Reuters says Canada's wheat had been hit by rains in the northern prairies during spring planting and then by a summer drought that scorched southern areas near the U.S. border, leading to concerns that yields could suffer.

The drought also gripped North Dakota and Montana, major U.S. spring wheat states, and concerns about damage to wheat output sent front-month MGEX spring wheat futures above $8 a bushel in July for the first time in four years.

The price spike triggered a wave of farmer selling on both sides of the border. U.S. producers, who have ample storage, unloaded old-crop supplies while Canadians made forward sales against their 2017 harvest.

But as the crop rolls in, yields have been stronger than expected, especially in Manitoba, Canada's third-largest wheat province after Saskatchewan and Alberta.

Canada's poorest yields emerged in southern Saskatchewan, bordering the U.S. states that endured extreme drought.

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