Lentil Estimate Controversial
VANCOUVER - Aug 26/11 - SNS -- Canadian lentil markets were surprised by Statistics Canada's first crop production estimate of the year, with clear divisions in the industry about the accuracy of the seeded area estimates.
Many market participants were looking for acreage to drop at least 15% from the June seeding intentions instead of only 5%.
It needs to be mentioned that preliminary seeded area and production estimates are always a source of controversy because it takes more than one survey to get a firm fix on how much of each crop was planted. More importantly, because the survey was conducted before the harvest started, it reflects what crops look like as opposed to what is coming off out of the combine.
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