Soy Crop Revised Higher; Corn Little Changed

Canadian soybean production was revised a bit higher in an updated Statistics Canada crop production report on Wednesday, while corn was little changed. 

The report pegged nationwide soybean output for this year at 6.505 million tonnes, up from StatsCan’s original estimate of 6.381 million released at the end of August. Meanwhile, the Canadian corn crop was placed at 14.861 million tonnes in today’s report, up just slightly from last month’s 14.824 million. 

Compared to lasty year, national corn production is projected to increase by 6.3%, with soybean output up 3.7%. 

At 164.3 bu/acre, this year’s average Canadian corn yield is up from 163.9 bu/acre last month and above 160.2 bu in 2021. The average soybean yield, at 46.1 bu/acre, is from 45.3 bu in August and 43.7 bu a year earlier. 

In the largest production province of Ontario, corn output is seen at 9.804 million tonnes, unchanged from last month, with the average yield also steady at 172.6 bu/acre. That compares to last year’s crop of 9.474 million and an average yield of 175.2 bu. 

The Ontario soybean crop is estimated at 4.111 million tonnes, up from 4.08 million last month, as the average yield increased 0.3 bu/acre to 49.3 bu. Last year’s Ontario soy crop amounted to 4.082 million tonnes, with an average yield of 51.6 bu/acre. 

In Manitoba, soybean production is projected at 1.192 million tonnes, little changed from the August estimate and up 23.7% from last year. At 39.1 bu/acre, the average Manitoba soybean yield is well up from 35.9 bu last month and more than 44% above last year.