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Canadian Corn Stocks Higher, Soybeans Lower

on June 1 | in Ag News | by | with No Comments

From Statistics Canada

As of March 31, total stocks of wheat, canola and soybeans were lower compared with the same date in 2015. Meanwhile, total stocks of corn for grain, barley and oats increased year over year.

Corn for grain

A larger crop of corn for grain in 2015 pushed up total stocks by 23.4% as of March 31 to 7.8 million tonnes. The overall rise resulted from an increase in farm stocks, up 23.5% to 5.8 million tonnes, and a gain in commercial stocks, up 23.2% to 2.0 million tonnes. Farm stocks in Quebec matched the 2005 record high of 2.0 million tonnes.

Soybeans

Soybean stocks totalled 1.8 million tonnes as of March 31, down 15.2% from the 2015 record high of 2.1 million tonnes, despite a 3.1% increase in soybean production in 2015. Farm stocks decreased 12.4% from the same day a year earlier to 983 000 tonnes, and commercial stocks were down 18.4% to 780 300 tonnes.

Wheat

Wheat stocks totalled 13.8 million tonnes as of March 31, down 23.8% from the same day a year earlier. This decrease resulted from a lower stock level on farms, down 28.4% to 9.8 million tonnes, and a 9.4% decline in commercial stocks to 4.0 million tonnes. Wheat stocks held on farms accounted for 71.0% of total wheat stocks. Farm stock levels in Saskatchewan (-30.7%) and Alberta (-30.9%) recorded similar year-over-year declines.

Barley and oats

Total barley stocks increased 12.1% to 3.8 million tonnes as of March 31, reflecting a 15.5% gain in production in 2015. Farm stocks grew 13.3% compared with the same day a year earlier to 3.5 million tonnes. The commercial stock level remained relatively stable at 303 200 tonnes (-0.3%).

Following a 15.1% rise in oat production in 2015, total oat stocks increased 9.3% to 1.8 million tonnes compared with March 31, 2015. Both farm stocks (+5.8%) and commercial stocks (+37.2%) were up from the same day last year.

Canola

As of March 31, total canola stocks were down 10.1% from the same day a year earlier to 7.5 million tonnes. This decrease resulted from a 12.9% decline in farm stocks to 5.9 million tonnes. Stocks held on farms in Saskatchewan were down 16.5% to 2.8 million tonnes, while farm stocks in Alberta fell 18.9% to 2.0 million tonnes. However, commercial stocks rose 2.1% to a new high of 1.6 million tonnes.

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