StatsCan Forecast Favors Market's Friends
OTTAWA - Aug 21/13 - SNS -- Statistics Canada left this year's seeded area estimates for pulses and specialty crops mostly unchanged from June's seeding intentions.
The main changes were a 110,000 acre drop in lentil area to 3.13 million acres and a 50,000 acre drop in pea plantings to 3.925 million. Field pea area remains just shy of setting a new record.
Ignoring soybeans, land in all pulses and specialty crops now totals 8.437 million acres, up 24.8% from last year's 6.76 million last year and up from the recent five-year average of 7.293 million. If forecast yields hold up, this year's harvest will be down 1.6% from last year's record at 6.3 million metric tons (MT), and up 12.8% from the recent five-year average of 5.585 million.
With the exception of dry edible beans and mustard seed, Statistics Canada reckons average yields are down from last year. Lentil, pea, and canaryseed yields are expected to be down from their recent five-year averages; while dry edible beans, mustard and sunflower yields are above their recent averages.
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