New Canadian planting report provides insights into 2022 opportunities for Canadian growers
SAN CARLOS, Calif. & HIGH RIVER, Alberta--(BUSINESS WIRE)--Farmers Business Network® (FBN®) the global farmer-to-farmer network and ag tech company, today released its 2022 Canadian Planting Report. The Canadian Planting Report provides one of the first major survey-based estimates of Canadian farmers’ planting intentions and market implications for the year.
As war in Eastern Europe roils markets, the FBN report arms Canadian farmers with the latest intelligence to help guide their operating decisions. Most notably, the report found a projected decrease of 1.3 million canola acres to be planted this year – approximately a 6% pullback year over year.
As a result, FBN's outlook is slightly bullish on the canola crop: while the balance sheet is tight, "there is a bright future for the domestic crush industry," the report states. Saskatchewan growers are seeing the greatest decline in canola acres, largely in favor of planting spring wheat.
The report is less optimistic about the spring wheat crop, rating this as "neutral to slightly bearish." Spring wheat area is forecast to jump 10% from last year to 18.2 million, up from 16.5 million acres in 2021. The report notes that the balance sheet for spring wheat is also tight, but that growers should not be overly concerned with an extended dip in prices.
The report is based on hundreds of farmer responses responsible for 2.4% of all crops surveyed in Canadian provinces. The survey was conducted from late March through April 18, asking Canadian farmers about their planting intentions for 2022.
"We're proud to provide our Canadian members with the latest intelligence, particularly during this current market turbulence," said Dr. Rejeana Gvillo, Senior Commodity Analyst, FBN. "Despite all this uncertainty, our report does highlight some opportunities that growers can capitalize on as they gear up for planting."
The report also brings perspective and context to a range of additional crops, including durum, barley, oats, peas, and lentils.
To download the 2022 FBN Canadian Planting Report, visit the FBN website.
About FBN:
Farmers Business Network, Inc. is an independent ag tech platform and farmer-to-farmer network with a mission to power the prosperity of family farmers around the world while working toward a sustainable future. Its Farmers First® promise has attracted more than 36,000 members to the network with a common goal of maximizing their farms’ profit potential. FBN has set out to redefine value and convenience for farmers by helping reduce the cost of production and maximize the value of their crops.
FBN members farm more than 80 million acres in the United States, Canada, and Australia. The company has over 800 personnel and offices in San Carlos, CA, Chicago, IL, Sioux Falls, SD, a Canadian headquarters in High River, Alberta, and an Australian headquarters in Perth. To learn more, visit: www.fbn.com.
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Contacts
Amy Wolfcale
Head of Corporate Communications and Public Relations
Awolfcale@farmersbusinessnetwork.com
917-576-8767
Keith Chapman
Keith@chappublicrelations.com