It turns out that Canadian farmers aren’t that bullish on oilseeds, according to surprising projections from the government, says a report from Bloomberg Markets.
Farmers will cut canola and soybean acreage, defying forecasts by analysts, and wheat planting will climb more than expected, Statistics Canada estimates showed Friday. The bullish oilseed outlook had emerged amid trade friction between the U.S. and China, the world’s biggest importer.
Grain producers in Saskatchewan, the largest provincial grower, will expand acreage for the first time since 2013.
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