Farmers Business Network (FBN) released its 2023 Canadian Planting Intentions Report, providing insights into how Canadian farmers approach the new season. Based on a survey conducted from late March to April 18, the report offers market implications for the crop year, focused on canola, spring wheat, and durum. While there were small shifts in acreage compared to 2022, the report still provides growers with critical intelligence and market guidance. FBN’s actionable intelligence aims to arm Canadian members with the necessary tools to navigate the current market. With over 55,000 members, FBN is an independent AgTech platform and farmer-to-farmer network with a mission to power the prosperity of family farmers worldwide while working towards a sustainable future.
Farmers Business Network (FBN) has released its 2023 Canadian Planting Intentions Report, which provides insights into how farmers are approaching the new season compared to previous years. This report is one of the first central survey-based estimates of Canadian farmers’ planting intentions and offers market implications for the crop year. The report is based on a poll that FBN conducted from late March to April 18, in which Canadian farmers were asked about their acreage intentions.
The report found relatively small changes in acreage compared to 2022, but these shifts still provide critical intelligence and market guidance for growers north of the border. FBN is proud to give Canadian members the actionable intelligence needed to navigate the current market.
One noteworthy finding is that canola acreage increased in Alberta but decreased in Saskatchewan and Manitoba. The increase in Alberta was modest, while Saskatchewan reduced slightly from 11.4 million acres in 2022 to 11.3 million this year. Manitoba saw the most significant shift, with about 350,000 less canola acreage this year. Given these relatively small shifts, FBN is neutral on the canola market for the year ahead and is optimistic about canola prices for the coming year.
Another noteworthy finding is that there were increases in spring wheat acreage across all three regions, with the most significant jump coming in Saskatchewan, where about 1 million more acres were planted this spring compared to last year. As a result, FBN is slightly bearish on the spring wheat market for this crop year.
The report also found that durum acreage is expected to decline by 300,000 acres across Alberta and Saskatchewan. However, durum supplies are snug for Canada and the U.S., and this should remain a theme in the new crop year.
The report represents 2.5% of all acres in Canadian provinces and guides barley, oats, peas, lentils, and soybeans. Farmers can download the 2023 FBN Canadian Planting Report from the FBN website.
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