Canola Loses Ground to Wheat

Canola Loses Ground to Wheat

 

Historically high wheat prices and a disappointing year for canola last year are driving Canadian Prairie farmers to plant more wheat in 2013.  The first industry planting estimates for 2013 state that there will be a 7.1% decrease in canola planting or about 1.5 million acres less than last year and a 300,000 acre increase in total wheat planted which includes a 3.2% increase in acreage for the most popular variety of wheat, red spring wheat.  Demand from Asia is believed to drive demand for Canadian flax and oats in 2013 as well with increases in the double digits in the coming year.

 

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