Canadian farmers harvested record crops this season, according to the latest report out today from Statistics Canada.

Production of most field crops increased this year in Canada compared with 2012 with both canola and wheat production reaching record levels. Canola production increased 29.5% from 2012 to a record 18.0 million tonnes with a record average yield of 40.0 bushels per acre, up 42.3% from 2012, which more than offset a 9.0% decline in harvested area. Farmers reported record wheat production of 37.5 million tonnes, a 38.0% increase from 2012. Both harvested area (+9.9%) and average yield (+25.4%) increased compared with 2012.

Barley production was up nearly 28% from 2012 to 10.2 million tonnes with a record yield of 71.7 bushels per acre. Corn and soybean production also set records, mostly due to increased acreage, with soybeans up 2.2% and corn up 8.7%.

“To say the report is surprising is probably an understatement in terms of the magnitude of the increase,” commented analyst Bruce Burnett with the Canadian Wheat Board (CWB) on the Minneapolis Grain Exchange (MGEX) crop call for Canada this morning.

Listen to his analysis here: Commentary on Canada crop report with Bruce Burnett, CWB