Market Morsel: Canadian wheat crop
As Canada progresses towards harvest, the forecasts are looking positive. During the past week, Farmlink estimate that the wheat crop will be approximately 39mmt, if realised, this would be a record crop.
The current estimates for the 2020 crop are:
- Refinitiv – 33.8mmt
- USDA – 34mmt
- Farmlink – 39mmt
The excellent crop conditions in Canada are another weight to be added to the ‘bear’ side of the scale.