This week, Canada's national statistical office, Statistics Canada (StatsCan), published its first look at 2023 Canadian crop potential and farmer planting intentions. Canadian farmers are set to increase their wheat area by around 6% on last year, to 27 million acres. If realised, this would be the largest drilled area since 2001. This potential boost to global supplies exceeded trade expectations and added to the market price negativity.
You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Ollie Wilson.