StatsCan Lower Than Trade on Pulses
VANCOUVER - Oct 6/13 - SNS -- Canada's latest pulse and specialty crop production forecasts came in lower than many traders were expecting, but almost identical to pre-report forecasts derived from ongoing yield estimates from the provincial agriculture departments.
Statistics Canada confirmed that this year's field pea crop will be a record, increasing its crop forecast to 3.781 million metric tons (MT), 6% above the 3.56 million MT harvested in 2008. Lentils are now expected to total 1.7 million MT, making it the second largest crop in Canadian history, but at least 200,000 MT less than expected by some market participants.
Crop estimates are based on a survey of 10,500 farmers between September 3 and 10. Farmers were actively harvesting when the survey was underway, with the field pea harvest advancing from 63% to 86% complete in Saskatchewan, while the lentil harvest jumped from 49% to 69% complete.
As solid a picture as that should give of average yields, it is not uncommon for the final production estimate to be bigger. Some red lentil and canaryseed processors believe this will absolutely be the case for these crops.
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