Grain, Oilseed Stocks Up On Year

OTTAWA - May 5/14 - SNS -- Canadian grain and oilseed stocks increased over last year on march 31, reflecting record high production levels in 2013 and slowing export movement during the opening quarter of the year on account of unusually harsh winter conditions.

Statistics Canada reports that total wheat stock rose 46.9% from the same day a year earlier to 21.3 million metric tons (MT) as of March 31, 2014. This advance was driven by stock held on farms, which was up 72.5%, while commercial stock declined 11.3%. Wheat stock held on-farm accounted for 81.5% of the overall wheat stock total. Stock levels held on Alberta farms reached a record high of 5.2 million MT.

Following record canola production in 2013, total canola stock was at an all-time high of 9.0 million MT as of March 31, up 99.1% from the same date a year earlier and 2.1 million MT higher than the previous record set in 2010. Canola stock held on farms stood at 7.8 million MT, up 143.1% from March 31, 2013, with all three Prairie provinces holding record amounts on farms. However, commercial stock was down 9.8% to 1.2 million MT as of March 31.

Following an 8.7% increase in corn for grain production last year, total stock was up 18.0% from March 31, 2013, to 8.0 million MT. On-farm stock increased 21.1% from a year earlier to 6.0 million MT. Meanwhile, commercial stock was 9.7% above March 2013 levels at 2.0 million MT.

Total soybean stock decreased 13.6% from March 31, 2013, to 1.2 million MT, with on-farm (-6.5%) and commercial (-24.5%) stock both down. This decline occurred despite a 2.2% production increase in 2013.

Total stock of barley rose 42.8% from the same day a year earlier and stood at 4.3 million MT as of March 31, 2014. This gain was due to a 48.9% increase in volume kept on farms, which held 92.3% of total stock.

Total stock of oats increased 59.9% from the same day a year earlier and stood at 2.3 million MT as of March 31, 2014. On-farm stock accounted for 91.6% of total stock and was 84.7% higher than the same day in 2013.

Statistics Canada's onfarm stocks estimates were based on a survey of 11,500 farmers between March 24 to 31. Data on commercial stocks of western major crops originate from the Canadian Grain Commission. Commercial stocks of corn and soybeans are estimated by a Statistics Canada sample of grain elevators in Eastern Canada. Data on commercial stocks of special crops originate from a survey of handlers and agents of special crops.