Agriculture Roundup for Wednesday November 23, 2022
MELFORT, Sask. – A new outlook for principal Canadian field crops is positive.
Agriculture and Agri-Food Canada’s (AAFC) October report estimates total crop production for 2022-23 at roughly 97.5 thousand tonnes. If those numbers are correct this would make it the second-highest production level on record.
The report also said information from the Canadian Grain Commission Harvest Sample Program said crop quality is good and crop prices will remain relatively strong for 2022-23, but lower than the levels seen in 2021-22.
The outlook for the world’s grain markets continues to be uncertain due to strong demand and relatively tight supplies. The Russian invasion of Ukraine has disrupted Black Sea production, while global trade patterns, inflation, and concerns about a global economic slowdown are also contributing to the uncertainty.