Winnipeg, June 2 (CNS Canada) – Canola supplies in commercial hands in Canada dropped to their tightest level in nearly three years, according to the latest data from the Canadian Grain Commission for the week ended May 28.
Visible canola supplies, at 702,700, are down from the already tight level of 830,200 tonnes posted the previous week and represent the smallest supplies on hand in the commercial grain-handling system since August 2014. Visible canola stocks are typically considered low whenever they move below one million tonnes.
Farmer deliveries during the latest reporting period came in at only 218,400 tonnes, marking the lowest weekly deliveries since August 2016.
Weekly canola exports, of 158,700 tonnes, were up from the previous week, but were off the crop-year-to-date average of about 210,000 tonnes. Domestic disappearance came in at only 120,800 tonnes during the week, the smallest weekly level since September 2015.