Pea Inventories Up, Lentils Down

OTTAWA - Feb 5/20 - SNS -- Total inventories of barley, oats and dry peas as of December 31, 2019 were up over the previous year, while stocks of wheat, canola, corn for grain, lentils and soybeans were down.

Statistics Canada said because of poor harvest conditions, "a substantial amount of crops likely remained unharvested at the time of the survey. Farmers were asked to include only crops harvested and currently in storage when reporting stocks of principal field crops. Crops harvested after the collection period for the December survey will be included in later surveys."

Stocks of dry peas rose 3.2% year over year to 2.6 million metric tons (MT) as of December 31, 2019. On-farm stocks (up 8.0% to 2.4 million MT) were responsible for the increase, which offset a 26.7% decrease in commercial stocks.

Meanwhile, stocks of lentils were down 14.9%. On-farm stocks decreased 14.3% to 1.6 million MT, while commercial stocks fell 19.9% to 180 700 MT. The decline in the total stocks of lentils was attributable to lower carry-in stocks (-27.7%), higher exports (+18.6%) and greater domestic disappearance

Nationally, soybean stocks fell 9.4% year over year to 3.9 million MT as of December 31, 2019. On-farm stocks, down 14.2% to 2.4 million MT, were responsible for the decrease, while commercial stocks were unchanged.

Total wheat stocks were down 0.5% year over year to 25.0 million MT as of December 31, 2019. On-farm stocks were up 1.5% to 20.8 million MT, while commercial stocks decreased 9.6% to 4.2 million MT.

Despite a 0.5% increase in total wheat production at the national level in 2019, lower carry-in stocks (down 10.3% from the previous year to 6.0 million MT) were responsible for the drop in total stocks. Lower wheat exports compared with the same period a year earlier contributed to the decrease in commercial stocks.

Overall, stocks of canola were down 2.4% year over year to 14.3 million MT as of December 31, 2019. This decrease was attributable to a 5.9% decline in on-farm stocks to 12.4 million MT, which offset a 28.6% increase in commercial stocks to 1.9 million MT.

Despite higher carry-in stocks (+52.9%), lower canola production in 2019, coupled with higher industrial use (+8.0%), led to the decline in total canola stocks. Canola exports were down 14.7%, or 641 100 MT, year over year, largely because of lower exports to China.

Total stocks of corn for grain were down 8.1% year over year to 10.7 million MT as of December 31, 2019. On-farm stocks fell 5.8%, while commercial stocks decreased 14.3%.

Lower production in 2019 and lower carry-in stocks from the previous crop year were responsible for the decrease in total corn stocks.

Barley stocks rose 20.6% year over year to 6.0 million MT as of December 31, 2019. On-farm stocks were largely responsible for the increase, rising 19.5% to 5.6 million MT. Commercial stocks increased 36.5% to 403 900 MT.

Barley production rose 23.9% to 10.4 million MT in 2019, offsetting record low carry-in stocks and pushing total stocks higher.

Nationally, stocks of oats rose 11.0% year over year to 2.7 million MT as of December 31, 2019. Both on-farm stocks (+9.0%) and commercial stocks (+30.9%) contributed to the increase.