Viterra forecasts lower agri-product sales in 2010

Calgary — The Canadian Press

Viterra, the Calgary-based global grain handler and agribusiness company, said seeded acreage in the region will be between 50 million and 52 million acres (20 million and 21 million hectares), well below the average of 60 million acres (24 million hectares) over the last five years. “Approximately eight million acres went unseeded, and additionally, about two million seeded acres were lost to excess rains,” it said.…

According to Kevin Hursh, Viterra’s estimates are ‘optimistic’ in that they are a bit less than the estimates coming from provincial governments. Saskatchewan alone is estimating eight million unseeded acres and four more million flooded. Statistics Canada is scheduled to release its seeded acreage estimates by August 20th.