Hundreds of thousands of acres of Canadian canola freeze, compounding ‘harvest from hell’

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Hundreds of thousands of acres of Canadian canola freeze, compounding ‘harvest from hell’

By Rod Nickel


By Rod Nickel

WINNIPEG, Manitoba, Nov 15 (Reuters)Heavy snow and rain throughout harvest on the Canadian Prairies have left a number of million acres of canola buried till spring, the most recent blow in a depressing 12 months which will compound farmer issues into 2020.

Canola is famend as Canada’s most worthwhile crop, exported to China, Japan and Mexico to make vegetable oil and animal feed.

However in March, Beijing revoked the licences of Canadian exporters Richardson Worldwide and Glencore Plc’s GLEN.L agriculture unit, Viterra Inc VILC.UL, slowing China’s total purchases amid a broader diplomatic dispute.

Canola futures RSc1 are down 3% 12 months over 12 months on this planet’s greatest canola-growing nation regardless of extreme harvest issues that usually would elevate costs, including additional strain to declining farm incomes.

This 12 months might be remembered because the “harvest from hell,” mentioned farmer John Guelly, chairman of the Alberta Canola business…



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