Corn Production Estimated Lower; Soybeans Higher

Canadian corn production is forecast to decline this year, despite a record high national yield estimate. Meanwhile, soybean output is expected to reach the highest in six years. 

Statistics Canada’s crop production report Wednesday estimated 2024 nationwide corn production at 15.228 million tonnes, down 1.2% from the 2023 crop of 15.42 million but still well above the 2022 crop of 14.538 million. 

National soybean output was reported at 7.149 million tonnes, up 2.4% from last year and potentially the largest crop since 2018 at 7.416 million. 

At 168.5 bu/acre, the average national corn yield is up from 161.8 bu the previous year and a new record high, but that was not enough to offset a 5.2% decline in harvested area to 3.558 million acres. 

For soybeans, yields are expected to rise by 0.4% to 46.1 bu/acre, while harvested area is anticipated to increase by 2% to 5.7 million acres. 

In the No. 1 production province of Ontario, corn output is expected to decrease 3% to 9.675 million tonnes due to lower harvested area – down 4.7% to 2.114 million acres - offsetting a 3.1 bu increase in the average yield to 180.1, a new high for the province. 

Soybean production in Ontario is expected to rise by 6.9% to 4.314 million tonnes. Harvested area is projected to increase by 7.6% to 3.102 million acres, while yields are anticipated to edge down 0.6% to 51.1 bu/acre. 

In Quebec, corn production is projected to rise from one year to the next by 7.3% to 3.587 million tonnes. Yields are expected to jump by 9.1% to 161.6 bu/acre, while harvested area is anticipated to decrease by 1.6% to 873,800 acres. 

Quebec soybean production is projected to increase by 7.7% to 1.366 million tonnes on higher anticipated harvested area (+6.9% to 1.063 million acres), combined with a 0.6% expected increase in yields to 47.2 bu/acre. 

For Manitoba, corn production is expected to fall by 4.8% to 1.699 million tonnes because of lower anticipated harvested area (-11.9% to 482,400 acres) offsetting higher expected yields (+8% to 138.7 bushels per acre). 

Soybean output production in Manitoba is projected to decrease by 14.1% to 1.345 million tonnes. Harvested area is expected to fall by 11.4% to 1.408 million acres. Yields are anticipated to fall by 3% year over year to 35.1 bu/acre.