Market Morsel: Canadian wheat crop

Market Morsel

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.