Canadian wheat growers plan to decrease seeding by 4.8%

Wheat growers in Canada, the world’s biggest exporter after the US, are planning to decrease seeding by 4.8% this year and also reduce canola planting, a government report showed.

Farmers may sow 24.8m acres of the grain, down from 26m a year earlier, Statistics Canada said.

The average estimate of 12 analysts surveyed by Bloomberg was 24.3m acres. Canola seeding may fall 0.7% to 19.8m acres. That compares with 20.75m acres forecast by analysts.