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The unincorporated community of Canal Point, a census-designated place (CDP), covers less than two square miles on Lake Okeechobee. In 1909 it was the first white settlement on the east side of the lake.

Southern States Land and Timber Company planted the first sugarcane here in 1917—several varieties, as an experiment. The U. S. Department of Agriculture established a Sugarcane Field Station in 1920 to supply “seed” (sugarcane stalks cut in pieces) for Louisiana, although they also assisted local farmers. Canal Point was selected because the moderating temperature effect from Lake Okeechobee created conditions useful for their breeding program. In 1922 Frederick Edward Bryant and G. T. Anderson built the first sugar mill in the Glades; soon, 800 of the 900 acres of sugarcane growing in the Glades were in Canal Point.