Soybean crop continues to grow year over year [Video]

S tatistics Canada’s November 2024 yield and production survey confirmed expectations. The outlook for corn and wheat remains bullish for the spring period due to tighter ending stocks from major exporters. The soybean market is expected to remain under pressure due to burdensome fundamentals.

Soybeans: Brazil, Argentina and the United States have had a year-over-year increase in production.

Corn: Demand for Ontario corn will make its seasonal high in April and May.

Wheat: There is concern the U.S. wheat region will experience a dry spring.

Ontario farmers harvested 4.354 million tonnes of soybeans, according to Statistics Canada. This compares to the 2023 crop of 4.36 million tonnes and the five-year average of 3.92 million tonnes. We estimate that Ontario farmers delivered 3.4 million tonnes of soybeans …