Canada’s 2016 Wheat Crop Soars, Corn and Soybeans Decline

Canada’s wheat crop is expected to approach record volumes with a harvest of 30.5 million tons – a 10.5 percent increase over last season, according to the latest data issued by Statistics Canada.

Of the three million ton increase, half, or 1.5 million tons, is due to an increase in durum wheat output. This marks only the second time in the past 25 years that Canada will see a wheat crop exceeding 30 million tons.

Soybean production, however, is expected to fall by 6.5 percent to 5.8 million tons due to adverse weather and excessive dryness in southern Ontario, the country’s top soybean producing region.

Meanwhile, corn output is forecast to fall by a significant 8.9 percent to 12.3 million tons due to dry weather in Ontario and Quebec.

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