Canada's farmers are planning their largest canola acreage at all. Statistics Canada has just released its first estimate of areas which means that the canola (oilseed) larger than expected during cultivation. Area expansion goes at the expense of wheat acreage.
Courses of ICE canola futures eased after publication of the figures and the Paris MATIF RAPS courses follow.
According to the figures of the Canadian Statistics Bureau, canola is grown on 22.4 million acres in Canada. An acreage was expected by 21.3 million acres.
The field work not progressing currently due to cold temperatures.
