44 Our Advertisers Appreciate Your Business Better Farming | November/December 2024 Statistics Canada reported that the Western Canadian provinces’ vegetation index, which is calculated using satellite data, indicated that overall plant health points to the possibility of yields coming in much lower-than-normal to like normal. Canada’s 2024-25 canola production was reduced to 18.98 MMT (million metric tons) in the August estimate versus their prior estimate of 19.502 MMT, and this was lower by 1.1 per cent Y/Y. Yields were estimated lower by 0.8 per cent Y/Y to 38.4 bushels per acre (bpa). Total Canadian wheat production was reduced to 34.293 MMT versus 34.373 MMT in the prior estimate. This is nonetheless 4.1 per cent higher Y/Y and supported by yields that were up 5.7 per cent Y/Y to 48.4 bpa. Though spring wheat yields are expected to rise by 2.5 per cent Y/Y to 50.1 bpa, production is projected to drop by one per cent Y/Y to 25.3 MMT due to lower harvested acreage. Durum wheat yields may see a sharp climb of 40.2 per cent Y/Y to 35.9 bpa, which is projected to boost production by 47.6 per cent Y/Y to six MMT. Durum is the biggest contributor of higher total Canadian wheat production this year. Canada’s barley production is projected higher from 7.469 MMT to 7.6 MMT in the prior month’s report, but it is lower by 14.7 per cent Y/Y, partly due to lower projected yields of 61 bpa (-0.3 per cent Y/Y). Oat production is also projected higher to 3.017 MMT versus 2.911 MMT earlier. This is higher Y/Y by 14.2 per cent on account of higher harvested acreage as yields are expected to be lower by 0.4 per cent Y/Y to 83.6 bpa. Despite the Canadian canola crop's summer weather-related struggles, the market is likely more focused on the bigger global oilseed and grains supply-demand situation. Canada's 2024-25 canola production estimate is higher versus the five-year average.. Canada’s canola could face demand pressures from trade wars with China. On Sept. 2, China reported plans to begin anti-dumping investigations into canola imports from Canada, and they initiated a year-long investigation on Sept. 9. This was in retaliation to Canada placing 100 per cent tariffs on Chinese-made electric vehicles. China is by far the biggest importer of Canada’s canola and that market is crucial for the industry. Statistics Canada’s stocks report as of July 31, 2024 showed canola stocks that were sharply higher Y/Y, up +66.9 per cent to 3.1 MMT. Canola futures face headwinds from the big stocks, a big American soybean crop, and demand concerns due to the Chinese anti-dumping investigation. BF Moe’s Market Minute *Rebates and/or financing based on the purchase of eligible equipment defined in promotional program. Pricing and rebates in CAD dollars. Additional fees including, but not limited to, taxes, freight, setup and delivery charges may apply. Financing must be through one of the available financing options. Financing is subject to credit approval. Customers must take delivery prior to the end of the program period. Some customers will not qualify. Some restrictions apply. Offer available on new equipment only. Prior purchases are not eligible. Offer valid only at participating Dealers. Offer subject to change without notice. See your dealer for details. Offer valid only at participating Dealers. Offer subject to change without notice. See your dealer for details. © 2024 Kioti Tractor Company a Division of Daedong-USA, Inc. RX 66-73 HP 40 SERIES KIOTI.com Unlimited Hour Powertrain Warranty 0% Financing CASH Back Offers AMRAA INDUSTRIAL SUPPLIES Camrose, AB · 780-673-9593 www.Amraa.ca CRIKSIDE ENTERPRISES Steinbach, MB · 204-326-3431 www.Crikside.ca KEYSTONE KAT Altona, MB · 204-324-5074 www.keystone-kat.com REDHEAD EQUIPMENT N Battleford, SK · 306-445-8128 www.redheadequipment.ca ST ANDREWS PARTS & POWER Saint Andrews, MB · 204-953-0030 www.standrewspartsandpower.ca SUPERIOR FORKLIFT Regina, SK · 306-721-5438 www.superiorforkliftltd.ca THE TRACTOR COMPANY OF NA Osler, SK · 306-239-2262 www.tractorcompany.ca UNIVERSE SATELLITE SALES Rocanville, SK · 306-645-2669 www.universesatellite.com MOE AGOSTINO & ABHINESH GOPAL Maurizio (“Moe”) is chief commodity strategist with Farms.com Risk Management and Abhinesh is head of commodity research.
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