Canadian Wheat, Canola Crops May Rebound on Favorable Weather
- Government projects drop in wheat output, surpising analysts
- Canola output forecast trails estimates amid China woes
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The Canadian government reported surprising crop forecasts with bigger-than-expected drops for canola and durum wheat. Some analysts are wary of the numbers, saying output will end up being better following favorable weather.
Farmers were surveyed from July 4 to Aug. 5, and beneficial conditions subsequently have probably pushed yields up, analysts said. Crop development was delayed this year after farmers were forced to plant in dry conditions with rain arriving in late June and early July.