As of July 31, Canada's total stocks of wheat and barley were down from the same date a year earlier, while stocks of canola, oats, dry peas and lentils increased, according to the latest report from Statistics Canada.
Total stocks of wheat were down 9.9 per cent to 6.2 million tonnes compared with July 31, 2017. The decline was due to a 22.5 per cent decrease in commercial stocks to 3.5 million tonnes. This was offset by a 15 per cent increase in on-farm stocks (+347,000 tonnes).
Despite lower production, higher wheat quality in 2017-2018 (as stated in the latest Canada: Outlook for Principal Field Crop, published by Agriculture and Agri-Food Canada) compared with the previous year contributed to increased exports, which could have lowered commercial stocks.
At the national level, canola stocks were up 78.2 per cent to 2.4 million tonnes as of July 31, 2018. On-farm stocks, which are concentrated in the Prairie provinces, were behind the increase (+238.9 per cent to 1.4 million tonnes). Commercial stocks were 3.9 per cent higher compared with July 31, 2017, at 954,000 tonnes.
Canola production in 2017/2018 reached a record high 21.3 million tonnes, while deliveries were down compared with the previous crop year, pushing up total stocks as of July 31, 2018.
Dry peas and lentils
Overall stocks of lentils totalled 876,000 tonnes as of July 31, 2018, up 561,000 tonnes (+178.1 per cent) from the same date in 2017. The increase was due to higher farm stocks (+223.7 per cent). Meanwhile, total stocks of dry peas rose 116.7 per cent to 650 000 tonnes.
Increases as of July 31, 2018, could be attributable to higher import tariffs introduced by India. Exports of both dry peas and lentils as of July 31 were down substantially from the same date last year, with dry pea exports declining 21.1 per cent to 3.1 million tonnes and lentil exports falling 36.8 per cent to 1.6 million tonnes.
Total barley stocks were down 40.8 per cent to 1.3 million tonnes as of July 31. Stocks held on-farm, which accounted for 81.4 per cent of total stocks, fell 42.8 per cent to one million tonnes. Meanwhile, commercial stocks declined 30 per cent to 233,000 tonnes.
As of July 31, total stocks of oats were up 11.5 per cent to 784,000 tonnes year over year. Increases in both on-farm (+6.3 per cent) and commercial (+35.4 per cent) stock levels led to the overall rise.
Statistics Canada: Wheat and barley stocks down
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