Soy Canada estimates that Canada will see soybean acreage topping 10 million acres by 2027 – up from 5.6 million acres today, based on the availability of land in Western regions that is suitable for soybean cultivation, and the profitability of the crop for farmers.
Western Canada is expected to play a key role in this increase – with the region expected to see an increase in soybean acreage from the current 1.9 million acres to 6 million acres over the same time period.
From this total acreage, Soy Canada forecasts output of 13 million tons, with approximately 10.5 million tons being exported.
However, protein levels currently stand at about 40.5 percent in Eastern Canada and 39.2 percent in Western Canada – a potential drawback as lower protein levels can translate to discounts of between 20 and 40 cents per bushel. With increased acreage and output, the Canadian industry is aiming to reach protein levels consistent with the U.S. and is targeting protein levels of 41.1 percent in Eastern Canada and 40.5 percent in Western Canada within the next 10 years.
Lynda Kiernan is Editor with HighQuest Group Media and of the Oilseed & Grain News. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at firstname.lastname@example.org.