The forecast for soybean yields in Canada shows a consistent slight decline from 2024 to 2028. Starting at 27.15 thousand hectograms per hectare in 2024, yields are projected to decrease to 27.06 by 2028. This marks a gradual reduction of approximately 0.07% per year over the observed period. In comparison to 2023, where yields stood at 27.18, the decrease in yield reflects ongoing challenges in achieving growth. The compound annual growth rate (CAGR) for these years is negative, indicating persistent downward pressure.
Future trends to watch for include:
- Climate change impacts on agricultural productivity.
- Technological advancements in farming practices and seed technology.
- Market demand shifts, particularly from key trading partners.
- Policy changes affecting agriculture, including environmental regulations.
