Modest Increase in Corn, Soybean Intentions

Similar to their US counterparts, Canadian producers will increase the area seeded to both corn and soybeans this year, although underwhelmingly so.

Tuesday’s Statistics Canada acreage report pegged nationwide corn intentions for 2021 at 3.62 million acres, up 1.8% from a year ago. Soybean area is seen at 5.34 million acres, an increase of 5.5% from 2020.

Those are relatively modest increases – corn area would still be below the 3.69 million acres seeded in 2019 and soybeans well off the 2017 record of 7.28 million acres – considering the fact corn and soybean futures are trading at their highest levels since 2013.

American corn and soybean intentions for this year also came in surprisingly low, with the USDA’s March 31 planting intentions report putting intended US corn area at 91.1 million acres, up just 325,000 or less than 1% from 2020. At 87.6 million acres, intended US soybean area was up 5% from last year but well below expectations closer to 90 million.

In the largest production province of Ontario, farmers said they anticipate planting 2.229 million acres of corn this year, up just 1.7% from 2020 although still a new record high - barely topping the previous high of 2.225 million in both 2012 and 2013.

Quebec farmers expect to plant more acres of corn, with seeded area increasing 1.2% to 901,300 acres in 2021.

Manitoba corn planted area for 2021 is seen rising to 398,400 acres from 372,400 the previous year but still below the 2019 level of 459,800.

For soybeans, farmers in Ontario expect to plant 2.9 million acres, up 2% from last year but below 2017, 2018 and 2019 when planted are exceeded 3 million acres.

Farmers in Manitoba anticipate increasing soybean planted area by 17.3% to 1.3 million acres, the first time soybean area in the province has risen since 2017.

Soybean area in Quebec is expected to rise 4.2% to 923,000 acres.

Saskatchewan corn intentions for this year are estimated at 20,700 acres, down from 22,500 in 2020, while Alberta corn intentions are down to 31,300 from 40,800. StatsCan did not provide any estimates for 2021 Saskatchewan and Alberta soybean area.