Bin-busting Canada wheat, canola crops raise pile-up fears: Reuters poll
By Rod Nickel
WINNIPEG, Manitoba (Reuters) - Canadian farmers are growing some of the biggest crops in recent memory, according to a Reuters survey of 12 analysts and traders, raising fears of another grain pile-up.
Greenhouse-like weather in the west has fueled expectations for the second-biggest wheat crop in 25 years and second-largest canola harvest ever for the major grain exporter.
"It's going to be above-average for sure," said Alberta farmer Chad Bown, who has a new bin on order to store his next harvest.
Traders and analysts on average estimate all-wheat production at 30 million tonnes, up 9 percent from last year, mainly because of greater durum output.
Canola production looks to increase 4.5 percent to 18 million tonnes.
Western Grain Elevator Association, whose members include Richardson International and Cargill Ltd [CARGIL.UL], took the unusual step of urging Canadian National Railway Co and Canadian Pacific Limited in late June to ensure enough capacity to move large crop shipments to ports and North American buyers.
The record-smashing 2013 harvest, followed by severe winter weather, slowed grain movement and crimped farmers' incomes.
The Agricultural Producers Association of Saskatchewan also warned of potential for repeating 2013's "logistical nightmare" for farmers unless railways and grain companies prepare now. Continued...