Sharp Reduction in Stocks

OTTAWA - Sep 3/15 - SNS -- Inventories of Canadian grains and oilseeds were down sharply from last year, though they remain relatively high for many crops because of the 2013 bumper crop.

Statistics Canada reports that total stocks of wheat sank 32.0% to 7.1 million metric tons (MT) as of July 31. This decline is explained by a decrease in on-farm stocks (-51.3%) and commercial stocks (-6.5%). The drop in on-farm stocks is mainly attributable to Saskatchewan (-50.7%).

At the national level, end of July canola stocks fell 22.8% to 2.3 million MT as a result of a 46.5% decline in on-farm stocks, as commercial stocks increased 17.5%.

Total barley stocks declined 37.6% to 1.2 million MT as of July 31. On-farm stocks, which account for over 85% of total stocks, decreased 38.7% to 1.0 million MT. Commercial stocks fell 29.8% to 172 000 MT.

Total stocks of oats fell 35.4% to 681 000 MT. On-farm stock levels led this decline, falling 42.2%. Commercial stocks, by comparison, declined 3.3%.

Statistics Canada noted that its stocks in all positions report is based on a survey of about 13,000 Canadian farmers conducted from July 22 to August 3, 2015. The July Farm Survey also has two questions pertaining to permanent on-farm grain storage capacity and the percentage of grain stored on farms using temporary storage methods.

Data on commercial stocks of western major crops originate from the Canadian Grain Commission. Data on commercial stocks of special crops originate from a survey of handlers and agents of special crops. Data on commercial stocks of corn and soybeans are estimated by a Statistics Canada survey of grain elevators in Eastern Canada.

                        2013      2014      2015    2013 to 2014     2014 to 2015
change
Total wheat            5 137    10 446     7 108       103.3           -32.0
Durum wheat            1 152     1 779       982        54.4           -44.8
Wheat excluding durum  3 985     8 667     6 125       117.5           -29.3
Barley                   983     1 950     1 217        98.4           -37.6
Canola                   588     3 008     2 322       411.6           -22.8
Dry field peas           174       329       429        89.1            30.4
Flaxseed                  71        92        97        29.6             5.4
Lentils                  467       786       365        68.3           -53.6
Oats                     446     1 054       681       136.3           -35.4
Rye                       46        44        42        -4.3            -4.5
Note(s):
The estimates in this table have been rounded to the nearest thousand.
Wheat types may not add up to total wheat as result of rounding.