As of July 31, Canada’s total stock levels for canola and oats were down from the same date in 2016. Meanwhile, wheat, barley and lentil stocks increased compared with July 31, 2016.
Wheat
Total stocks of wheat were up 32.6 percent to 6.9 million tonnes.
A Reuters poll of the trade had a range of expectations of 4.7 to 7.2 million for a midpoint of six million tonnes.
On-farm stocks of wheat increased 8.5 percent to 2.4 million tonnes as of July 31, compared with levels seen at the same date in 2016. In 2016, wheat production increased 15 percent over 2015.
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Durum wheat stocks rose 69 percent to 1.86 miilion tonnes. The trade’s midpoint of expectations was 1.9 million.
Canola
At the national level, canola stocks declined 35.5 percent to 1.3 million tonnes as of July 31, 2017, the result of decreases in both on-farm stocks and commercial stocks. On-farm stocks fell 56.6% to 430 000 tonnes, while commercial stocks were down 16.6% to 918 000 tonnes.
The midpoint of the trade’s expectations was 1.5 million tonnes.
Disposition of canola at end of crop-year 2016-17 saw crushings and exports reach record highs. As of July 31, 2017, canola crushings stood at 9.2 million tonnes, while total exports were 11.0 million tonnes.
Barley
As of July 31, total barley stocks rose 47.1 percent to 2.1 million tonnes. The midpoint of trade expectations was 1.9 million tonnes.
Stocks held on farms, which accounted for nearly 85 percent of total stocks, were up 38.9 percent to 1.8 million tonnes. Meanwhile, commercial stocks increased 114.8 percent to 333 000 tonnes.
Oats
Total stocks of oats were down 25.8 percent to 690 000 tonnes.The trade expected 700,000 tonnes.
Declines in both on-farm, down 12.8 percent, and commercial, down 55.3 percent, stock levels led to this overall drop.
Lentils
Overall stocks of lentils were at 405 000 tonnes as of July 31, more than five times the size they were on the same date in 2016.
That was more than the trades’ e expectation of 200,000 tonnes,
The rise was mainly the result of record production in 2016. On-farm stocks substantially increased and stood at 314 000 tonnes, while commercial stocks totaled 91 000 tonnes.
Peas
Pea stocks were 301,000 tonnes, the same as trade expectations.
