Ag Exports Contribute to Widening of Trade Surplus

Nov 03, 2022

A turnaround in Canadian agricultural production in 2022 helped to contribute to the widening of Canada's merchandise trade surplus in September.

A Statistics Canada report Thursday showed Canada's merchandise trade surplus with the world widened to $1.1 billion in September from $550 million in August, as exports increased (+1.3%) and imports declined (-0.4%). Most of the overall increase in exports in September was driven by farm, fishing, and intermediate food products, with shipments increasing 16.7%.

Exports of wheat, which rose in July before decreasing in August, were up sharply in September, jumping more than 65% in the wake of a much larger harvest in 2022 compared to a year earlier when drought ravaged crops across Western Canada. Exports of canola nearly doubled in September, with higher production beginning to influence shipments as well.

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Video: Do Cold Temps Impact Emerging Corn & Soybeans? | Pioneer Agronomy

A cold snap swept across west central Minnesota and eastern South Dakota, bringing frost, fog, and temperatures dipping into the 20s—raising urgent questions about early crop damage.

Pioneer Agronomist Eric Rice breaks down what those overnight temperatures could mean for emerged corn and soybeans, how to assess frost injury, and why patience is key before making any replant decisions. Learn the critical differences between corn and soybean growing points, what cosmetic vs. serious damage looks like, and how last week’s high winds may also be influencing what you’re seeing in the field.

Watch for:

• Frost thresholds for early-season crop damage

• Why corn may be more resilient than it looks

• Soybean growth stages and frost susceptibility

• How to evaluate brittle stems and discolored tissue

• Why waiting 4–5 days before assessing stand loss matters

• When to contact your local Pioneer agronomist or sales representative