Market Skeptical of Canseed Numbers

PANAMA - Dec 7/18 - SNS -- Markets remain somewhat skeptical of Canada's canaryseed production estimates for 2018 even though seeded is in line with other available data and yields were higher than estimated by provincial agriculture departments.

Statistics Canada pegged the final harvest at 117,800 metric tons (MT) from 212,100 acres, while provincial yield estimates suggested the crop was closer to 100,000 MT. Output is down 28% from last year's 144,800 MT crop, with a 3% increase in average yields partly offsetting a 31% drop in seeded area.

Production is concentrated in Saskatchewan, with this year's harvest pegged at 105,800 MT from 190,700 acres. Other provinces harvested an estimated 12,000 MT from 21,400 acres, up from 4,400 MT from 9,400 acres last year.