Canada: Grain and Feed Update
The combined production of wheat, barley, corn and oat production is forecast to fall marginally in 2016/2017 as a result of small increases in wheat and barley production being off-set by a ten percent decrease in corn production. Total exports of wheat, barley, corn and oats in 2016/2017 are forecast to fall eight percent as increases in barley exports are not high enough to offset an anticipated drop in wheat exports. The weakness for the Canadian dollar compared to the U.S. dollar has been helping Canada aggressively push out grain exports in the 2015/2016 marketing year. This advantage will likely weaken in the coming months as oil is expected to recover somewhat and the Canadian dollars strengthens.
