Canada, the worlds biggest producer of canola is on track to harvest a record crop this season.

Farmers are expected to strip more than 16 million tonnes of the oilseed, bumping up already large global supplies.

Brenda Tjaden Lepp, CEO of FarmLink Marketing Solutions in Winnipeg, says it'll be an extraordinary year for grain growers.

"There's widespread reports of yields coming in 150 per cent above expectation.

"That adds up to quite a bit of extra grain to move.

"Do we even have the transportation and the export capacity to move it get this grain out of the country in a year ?

"We probably don't."

She says farmers will harvest 10 to 12 million tonnes more wheat, canola, barley and peas than last year.

So what does this mean for the Australian grain market?

"I think the impact on canola prices in Australia is probably going to be more tied to soybeans.

"Soybeans is probably the bigger influencing factor than Canadian canola prices."

 

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