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Markets Subdued For StatsCan Report
CHICAGO - Oct 5/06 - SNS -- International agriculture commodity markets maintained a relatively subdued tone overnight, with little fresh business reported.
In fundamental news, Statistics Canada's latest crop production estimate contained some important revisions to the forecast size of this year's crops.
Canola output is now expected to total 8.4 million metric tons (MT), down 1.1 million MT from last year. Flaxseed production could fall 11.3% to 959,400 MT. Soybean production in Quebec is expected to increase 5.0% to a record 530,000 MT, and Ontario production to fall 3.5% to 2.5 million.
Spring wheat output could rise 2.3% to 18.8 million MT; while durum sinks 40.2% to 3.5 million MT. Canadian barley output is expected to total 9.2 million MT, up 29.5% from last year; while oats increase 11.1% to 3.3 million MT; and eastern Canadian corn output falls 19.1% to 2.8 million MT.
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