June 27, 2024
Statistics Canada released its Seeded acreage report for 2024 on June 27th, 2024
Soybeans: Nationally acres grew year over year and put Soybean acres on the higher end of the five year average. Manitoba reported a 10% decrease to 1.6 million acres although in the largest production province in western Canada.
Wheat: Saskatchewan Producers Reported no change in wheat acres year over year at 14.2 million acres. The decreases over year came from a drop of 1.6% drop in wheat acres in Alberta and a 1.4% drop in Manitoba. Spring wheat acres were down 2.77% year over year but still higher than the 5 year average
Corn: Acreage down 5% year over year. Came in a bit lower than pre report estimates of 3.8 million acres
Canola: Canola acres came in high end of pre report estimates and significantly higher than early planting intentions of 21.4 million acres. Canadian Producers reported a total planted acreage of 22 million acres, an extra 600,000 acres give or take. Despite this, canola managed to hold onto a gain for the remainder of the trading day following the report release.
Barley: Barley acreage down significantly from pre report estimates, spring intentions and last year. Keep crops like barley and oats in mind when considering how late the planting season was. The report was completed May 15th to June 12th when many producers were still unsure on how their last few acres would shake out. Large amounts of Barley and Oats were seeded after June 1st.
Oats: The report was completed May 15th to June 12th when many producers were still unsure on how their last few acres would shake out. Large amounts of Barley and Oats were seeded after June 1st. Most analysts were expecting a figure closer to 3.1 million acres, but nonetheless the report came in lower with 2.9 million acres of oats planted. Oat acres down 14% from the 5 year acreage.
Durum: Durum acreage came in very close to estimates pre report, no major surprises here. Durum acreage came in at the highest since the year 2000. Durum acreage definitely on the higher side but as expected.
Lentils: Acreage came in slightly higher than expected, higher than the five year average but not out of line.
Other Notable Report Items: Flax acres came in below anticipated acres, down significantly from the five year average by 32%. Flax acres at the lowest level since the year 1949. Chickpea acreage sitting heavy. Chickpea acres the largest since 2002
2024 Seeded Acreage Report – June 27th
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