STAT Communications Ag Market News

Pea Estimate No Real Surprise

PANAMA - Sep 21/18 - SNS -- Markets were not surprised by the latest Statistics Canada production estimates, which saw yields as being closer to those reported by provincial agriculture departments.

It needs to be recalled that the August crop report is based on surveys of farmers before the harvest starts. There can be significant differences between what fields appear to contain and the kind of crop that is actually there. Markets have been equally fooled by massive and limited plant growth in fields.

Based an satellite imaging and agroclimatic data, Statistics Canada boosted its dry field pea yield estimate 3% for a 3.74 million metric ton (MT) crop, just above the provincial estimates of a 3.71 million.

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