Report shows record-large canola stocks at end of March

canola
Canola south of Ethelton, Sask. on Aug. 3, 2017. (Dave Bedard photo)

MarketsFarm — Canada’s canola supplies of just over 10 million tonnes as of March 31 marked a new record for the date, according to Tuesday’s stocks of principal field crops report from Statistics Canada.

The government agency pegged canola supplies in the country at the end of March at 10.019 million tonnes, up by 10.5 per cent from the previous year, and up from the five-year average of 8.68 million tonnes.

Of that total, on-farm stocks of 8.838 million tonnes were also a new record for March 31, and well above the previous five-year average of 7.151 million.

Canadian barley stocks as of March 31 hit their lowest level in records going back to 1981, with only 2.488 million tonnes on hand in 2019. That compares with 3.39 million the previous year and the five-year average of 3.94 million tonnes.

Oat stocks were also tight, with 1.401 million tonnes in the country as of March 31, down by 33.4 per cent from 2018 and well below the five-year average of 1.914 million tonnes.

All-wheat stocks of 15.694 million tonnes were down by 4.3 per cent from the previous year and the tightest since 2016. Of that total, durum stocks of 3.915 million tonnes were up by 18 per cent on the year and up from the five-year average of 3.327 million tonnes.

Pea and lentil stocks were both down slightly from their year-ago levels, at 1.401 million and 1.363 million tonnes respectively.

— Phil Franz-Warkentin writes for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.

Table: Statistics Canada stocks of field crops as of March 31, 2019, in millions of tonnes.

Crop 2019 2018 Five-year avg.
Canola 10.019 9.063 8.68
Barley 2.488 3.39 3.94
All-wheat.      . 15.694.     . 16.394.    . 17.645
Durum 3.915 3.318 3.327
Peas 1.679 2.259 1.715
Lentils 1.363 1.612 1.202
Oats 1.401 2.103 1.914
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