April 20, 2011
 

Canadian soy acres to rise

Manitoba's soy acres are deemed to experience an increase over last year when Statistics Canada gives out its first acreage estimates of 2011 next Tuesday (April 26).

An analyst said the wet conditions are favourable to soy, and given the cool and wet spring in the province, a significant acreage increase is expected.

"The Red River Valley is a bit of a wild card, because of the flooding, but if everything goes well, we could see as many as 700,000 acres planted in Manitoba, up from about 500,000 in 2010," the analyst added.

Producers will be watching the calendar closely, he said, as the crop will need to be planted in a timely fashion. If rain ends up hitting the wet areas of the province, 700,000 acres may not be reached.

"There is a window in which soy can be planted, and if it gets past that window, it is too risky," he said. "Usually anything after May 25 is in a precarious position."
 

Another analyst predicted fewer acres than the first analyst did, in part because of the risk of flooding. He said he expected to see about 600,000 acres planted in Manitoba.

Another factor favourable to soy plantings is the rising cost of fertiliser.

Doug Chorney, president of Manitoba general farm group Keystone Agricultural Producers, said the high price of fertiliser could prompt a number of producers in the province to opt to plant soy this spring.

"Soy require very little, if any fertiliser," said Chorney, who farms at East Selkirk, Man. "Only a little bit of phosphate is needed and no nitrogen is required."

Strong prices are also persuading producers to plant soy.

"It is still at a profitable level," Kissick said. "Values that can be locked in would be profitable even with normal yields, so if people can get above-average production, it could be very lucrative."