| StatsCan released their August crop production model estimates. Using NDVI satellite data, NDVI rating peaked the earliest in crop development since monitoring began in 1987 and alongside the drought conditions explains the further cuts to yield. Wheat Nationally, wheat production is projected to decrease 38.3% year over year to 21.7MT in 2021, on lower anticipated yields and a reduced harvested area (-8.5% to 22.7 million acres). Canola Nationally, canola production is expected to fall 34.4% to 12.8MT in 2021, as drought conditions on the Prairies drove yields to their lowest level in a decade (-39.5%), offsetting a larger harvested area (+8.1% to 22.2 million acres). If this were to happen, this would be the lowest Canadian canola production since 2010. Read the full report here Last night’s USDA US crop progress report reported that the US corn harvest has reached 4% complete nationally, in line with average. 37% of corn has reached maturity, marginally ahead of the long-term 31% average. 38% of the US soybean crop is now dropping leaves, considerably ahead of the long-term 29% national average. Winter wheat planting in the US is marginally ahead of average, reaching 12% complete, slightly ahead of the 8% average pace. Read the full report here |
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