5 Canadian agriculture stocks to watch closely: NTR to AFN

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Highlights

  • Canada’s wheat production is reportedly anticipated to rise by 55.1 per cent year-over-year to 34.6 million tonnes in 2022
  • Statistics Canada said that canola production is expected to climb 41.7 per cent this year compared to 2021
  • Verde stock galloped by roughly 498 per cent in 12 months

Canadians can explore agriculture stocks like Nutrien (TSX: NTR), Verde Agritech (TSX: NPK), Ceres Global (TSX: CRP) etc., in the light of Statistics Canada's crop field estimates report, published on August 29. The national data agency revealed that Canadian farmers are expected to see increased crop production in 2022, largely helped by better growing conditions as per the latest yield model estimates based on satellite imagery technology and agroclimatic data.

StatsCan stated that Canada's wheat production is anticipated to rise by 55.1 per cent year-over-year (YoY) to 34.6 million tonnes this year. Further, in 2022, national canola production is expected to climb 41.7 per cent to 19.5 million tonnes compared to the prior year. Whereas corn for grain production is projected to expand by six percent, soybean production is expected to reach 6.4 million tonnes this year, up by 1.8 percent YoY.

Hence, Kalkine Media has picked the following six agri stocks that one can explore, keeping in mind these projections.


 


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