Stats Canada Forecasts Due Today

Stats Canada are due out later this afternoon with their first estimates of the season on Canadian crop production this year. The report is based on a survey conducted at the end of July, it's highly debatable whether things have got better or worse since then.

Sharp production losses are expected across all the grains, with all wheat estimates ranging from 20.10-23.31 MMT compared to last year's Stats Canada number of 28.61 MMT.

Barley production is estimated at 8.75-9.47 MMT, down from 11.781 MMT a year ago, and canola output is seen in a range of 9.50-10.75 MMT, compared to 12.642 MMT last season.

Crop development is widely seen at 2-3 weeks behind schedule, leaving production further under threat later in the growing season. Frost typically arrives on the Canadian Prairies around mid-September.

The report is due out at 14.30 BST this afternoon.