Canadian Grain Stocks Up 30%

OTTAWA - Feb 4/14 - SNS -- As of December 31, overall stocks of principal field crops were up nearly 30% from the same date in 2012, according to Statistics Canada.

Increased crop production in 2013, especially on the Prairies, resulted in the overall growth in stocks. On-farm stocks grew significantly, while commercial stocks were down. For canola and corn for grain, total stocks reached record levels as of December 31.

Total stocks of wheat rose 37.7% from December 31, 2012 to 28.4 million metric tons (MT), as a result of a 38.0% annual increase in wheat production in 2013. On-farm stocks reached a record high of 25.0 million MT, up 52.2% from the same date in 2012. Commercial stocks of wheat fell 19.2% to 3.4 million MT over the same time period.

Canola stocks stood at 12.6 million MT as of December 31, up 55.3% from the same date one year earlier. On-farm stock levels increased 65.7% from the same date a year earlier to 11.7 million MT, while commercial stock levels declined 14.6% over the same period. Canola production rose 29.5% from December 31, 2012 to 18.0 million MT.

Total stocks of corn for grain rose 10.8% from December 31, 2012 to 11.5 million MT. Corn for grain saw record levels of on-farm stocks, while commercial stocks were down 6.5% from the same date in 2012.

Total stocks of oats rose 39.7% from December 31, 2012 to 2.9 million MT, with on-farm stocks rising 45.2% and commercial stocks falling 9.7%. Total stocks of barley were up 27.2% to 6.7 million MT, mostly as a result of a 30.0% increase in on-farm stocks. These overall gains in oat and barley stocks reflected strong production increases in 2013.

Total stocks of soybeans rose 2.4% to 2.7 million MT as of December 31. Stock levels held on farms rose 21.6% to 1.9 million MT, while commercial stocks fell 25.0% from 2012 to 800 000 MT.