Canadian Field Crop Inventories Climb

OTTAWA - Feb 5/18 - SNS -- Stocks of grains, oilseeds and pulses were up over the previous year, according to Statistics Canada's December 31 stocks in all positions report.

Total stocks for lentils increased 16.3% from December 31, 2016, to 2.0 million metric tons (MT). On-farm stock levels rose 24.6% to 1.9 millions MT, while commercial stocks decreased 44.7% to 114 000 MT. Meanwhile, stocks of dry peas rose 3.9% to 2.8 million MT.

Statistics Canada blamed the increase in pea and lentil inventories on "recent rises in import tariffs introduced by India, as preliminary data on pea and lentil exports seem to show a substantial decrease over the same period."

Canola stocks reached a record high 14.1 million MT as of December 31, 2017, up 5.7% from the same date in 2016. The gain in stocks reflects record canola production in 2017, at 21.3 million MT. On-farm stock levels rose 8.6% to 12.5 million MT. Meanwhile, commercial stocks fell 12.4% to 1.6 million MT.

Total stocks of corn for grain totalled 12.2 million MT on December 31, 2017, up 4.7% from the same date one year earlier. Both on-farm stocks (+4.4% to 9.2 million MT) and commercial stocks (+5.8% to 3.0 million MT) contributed to the increase.

Total soybean stocks increased 29.2% from December 31, 2016, to a record high 4.3 million MT, the result of a 58.8% rise in on-farm stocks. Meanwhile, commercial stock levels fell 4.0%, to 1.5 million MT. This overall increase was due to record soybean production in 2017, at 7.7 million MT.

Total stocks of oats increased 13.7% to 2.9 million MT, as of December 31, 2017. On-farm stocks totalled 2.6 million MT, up 15.0% from the same date in 2016. Commercial stock levels were stable at 211 000 MT.

Total wheat stocks decreased 2.2% from December 31, 2016, to 23.6 million MT. Stocks held on farm declined 5.1% to 19.3 million MT. However, commercial stocks were up 13.5%, to 4.2 million MT.

Barley stocks decreased 6.1% from December 31, 2016, to 6.1 million MT. The decline was due to an 8.0% decrease in on-farm stocks to 5.8 million MT. Meanwhile, commercial stocks rose 49.3% to 314 700 MT.