Canadian farmers to reap less canola, surprising trade

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Statscan pegged the all-wheat crop at 30.5 million tonnes , which is the second-largest harvest in 25 years and up 10.5 percent from last year

Canadian farmers are set to harvest slightly less canola, surprising traders, but more wheat, according to Statistics Canada’s first production report of the year on Tuesday.

Mostly favorable spring weather raised expectations of a bumper harvest in western Canada, where most of the country’s grains and oilseeds grow. Summer storms, including tornadoes and hail, have since dampened some trade estimates.

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