April 13, 2009
Canada 2009-10 grain output seen volatile on lower prices, slow demand
Uninspired by lower prices and slow demand, Canada's 2009-10 wheat, barley, corn and oats production and exports will show a little volatility and grains are actually seen to fall by 11 percent or 49.2 million tonnes from 2008-09 levels.
According to the US Department of Agriculture, wheat exports are forecast down slightly to 17.1 million tonnes as a result of slightly smaller crop and low stocks. Barley exports are likely to remain deflated at 2 million tonnes compared to 2007-08 boom resulting from lower worldwide availability. Growth in oat exports, forecast at 1.8 million tonnes will be thwarted by abundant supplies in the main market of US. Corn imports will rebound slightly to 2.4 million tonnes but continue lower than 2007-08 due to difficulties getting credit and slowdown in biofuel production. Pulse production is forecast down 6 percent due to low prices and resulting retraction in pea production.
For more of the USDA reports, please click here.
