StatsCan report shows declining grain stocks
New numbers from StatsCan show declining stock levels for nearly every Canadian grain, oilseed and pulse crop.
Statistics Canada has released a report on stock levels to the end of March.
Those lower stocks are the result of active export demand, led by China.
Total stocks of canola fell nearly 38 percent year-over-year to 6.6 million metric tonnes.
That’s the lowest level of canola stocks since 2013.
On-farm stocks at the end of March were estimated at 4.8 million tonnes, down 47 percent.
Commercial stocks were 1.8 million.
StatsCan says canola exports reached a record 8 million tonnes, up 27 percent with strong sales to China and the European Union.
Domestic crush took another 7.4 million tonnes, up 0.7 percent.
Moving to wheat, stocks are estimated at 16.2 million tonnes—down 13.6 percent from one year ago.
Wheat exports rose 29 percent to a record 17.8 million metric tonnes.
That’s a full 2.3 million tonnes more than the previous record set two years ago.
Chinese wheat purchases nearly quadrupled.
Barley stocks to the end of March were 2.8 million tonnes, down 20.5 percent.
On-farm stocks fell by nearly 30 percent to 2.2 million tonnes.
More than 90 percent of Canadian feed barley exports went to China.
Oat stocks remained relatively steady at 1.8 million tonnes.
Pea stocks were down 1.7 percent to 1.9 million tonnes, while lentils fell 14 percent to 1.4 million.
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