Canadian wheat growers may boost seeding by 12.3 percent this year as they decrease the amount of canola they plant, according to a Statistics Canada survey.
Canada, the world’s second-biggest wheat exporter behind the U.S., will plant 26.6 million acres of the grain this year, up from 23.7 million in 2012, the Ottawa-based agency said today. Spring-wheat acreage may rise 14.4 percent to 19.4 million acres, while durum planting could increase 9.1 percent to 5.11 million. Canola seeding will fall 11.1 percent to 19.1 million acres, according to the Statistics Canada survey.
“The biggest reason we’re looking at more wheat is because canola is so stressed that we need crop rotations to come in,” said Brian Voth, an analyst at Agri-Trend Marketing Inc. in Winnipeg, Manitoba. “We need to go back to more of a typical oilseed-cereal rotation, and that’s been lacking.”
Wheat futures on the Minneapolis Grain Exchange have fallen about 7 percent this year, partly on speculation that global production will increase.
Canola prices have climbed about 5 percent since the start of this year on the ICE Futures Canada exchange in Winnipeg. Barley planting will probably fall 2.2 percent to 7.24 million acres, according to the report.
Statistics Canada said it surveyed 13,805 farmers about their intended plantings between March 25 and April 3.
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