As Canada progresses towards harvest, the forecasts are looking positive. During the past week, Farmlink estimate that the wheat crop will be approximately 39mmt, if realised, this would be a record crop.
The current estimates for the 2020 crop are:
- Refinitiv – 33.8mmt
- USDA – 34mmt
- Farmlink – 39mmt
The excellent crop conditions in Canada are another weight to be added to the ‘bear’ side of the scale.