2009 crop acreage, and price predictions
The market analysis division of Agriculture and Agri-Food Canada has estimated seeded acreage and crop price levels for the upcoming crop year, says consultant Kevin Hursh.
On wheat, the prediction calls for a 5 per cent drop in Canadian acreage, along with a 6 per cent drop in the Canadian Wheat Board’s pool return – nearly 50 cents a bushel.
On durum, seeded area is forecast to drop by 7 per cent, while the new crop year price is expected to be 12 per cent lower. That would be a drop of well over a dollar a bushel.
The Canadian Wheat Board released its first Pool Return Outlook for the 2009-2010 year on Monday, February 23, during the GrainWorld conference in conjunction with the wheat market outlook session.
Agriculture Canada calls for a 3 per cent increase in barley acreage with off-board feed barley prices unchanged from the current crop year. Oat acreage is expected to rise marginally, with prices forecast to remain unchanged.
A slight increase in canola acreage is forecast with a price decline in the new crop year. Flax acreage is expected to be unchanged, with lower prices.
On pulses and specialty crops, Agriculture Canada calls for a 7 per cent decline in pea acres, while the forecast calls for 12 per cent more lentils, 8 per cent more mustard and about 17 per cent more canary seed.
Pea prices are expected to be slightly lower. Lentils and mustard are expected to be down significantly, while the canary seed price is forecast to remain stable.
