STAT Communications Ag Market News

Market Shocked by Stocks Report

VANCOUVER - Sep 3/15 - SNS -- Markets were broad sided by Statistics Canada July 31 stocks in all positions report for peas and lentils, with closing inventory for the 2014-15 marketing year coming in well above expectations.

Statistics Canada pegged closing stocks for lentils ten times higher than thought at 365,000 metric tons (MT). Season ending field pea inventories were almost four times higher than expected at 429,000 MT. Statistics Canada no longer estimates stocks for other pulses and special crops.

The key reason behind the increases were upward revisions in crop production estimates for prior years. The 2013 lentil crop was increased from 2.251 to 2.173 million MT, while ending stocks for the 2013-14 marketing year were boosted from 169,000 to 786,000 MT.

Field pea production for 2014 was increased from 3.445 to 3.81 million MT, while ending stocks for the 2012-13 marketing year were increased from 174,000 to 265,00 MT and increased for the 2013-14 marketing year from 309,000 to 329,000 MT.

It is important to note that Statistics Canada stocks estimates for this year were based on a survey of about 13,000 Canadian farmers between July 22 and August 3. Data on commercial stocks of special crops originate from a survey of handlers and agents of special crops. Inventory data from the Canadian Grain Commission for stocks in the primary and terminal elevator system were also included.

Only active subscribers can read all of this article.

If you are a subscriber, please log into the website.

If you are not a subscriber, click here to subscribe to this edition of the STAT website and to learn more about becoming a subscriber.