Canada Markets

Statistics Canada Releases Third-Quarter Crop Receipts

Cliff Jamieson
By  Cliff Jamieson , Canadian Grains Analyst
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The blue bars represent crop receipts for select Canadian crops over the first three quarters of 2022. The brown bars highlight the increase for 2023. Canola and wheat receipts make up the largest share of the year-over-year increase. (DTN graphic by Cliff Jamieson)

Statistics Canada reports farm cash receipts at $72.5 billion over the first three quarters of 2023, or the end of September, up 7.9% or $5.3 billion from the previous year. This is a record for this nine-month period although note that this measure considers the revenue side only.

Crop receipts are reported at $41.4 billion, up $4.5 billion from the previous year, also a record for this period, although receipts are likely to slow. As a percentage of total farm receipts, crop receipts account for 57% of the farm cash receipt total, up from 54.9% calculated for this period last year and compared to the highest percentage calculated of 57.8% for the first three quarters of 2020.

As seen on the attached chart, the year-over-year increase for canola receipts and wheat receipts (excluding durum) dwarf all other year-over-year changes shown. The year-over-year change in canola receipts is seen at $1.648 billion and the year-over-year change in wheat receipts is $1.272 billion, or $1.766 billion when combined with durum for a view of Canada's all-wheat receipts. These crops account for 76.5% of the total year-over-year crop receipt increase.

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