Overall Drop In Dec 31 Stocks
OTTAWA - Feb 8/22 - SNS -- December 31 stocks of grains, oilseeds and pulses grown in western Canada were down over last year, while corn inventories were up,according to Statistics Canada.
Commenting on the data, Statistics Canada noted, "Grain movements decreased in comparison with the same period one year earlier, caused in part by lower supply. In addition, excessive rainfall in British Columbia brought on washouts and landslides, which impacted rail routes into Vancouver in November, affecting the movement of grain in Western Canada."
Stocks data is survey based. Around 8,600 Canadian farmers contacted between from December 14, 2021, to January 18, 2022. Data on commercial stocks of western major crops originate from the Canadian Grain Commission, while special crops numbers originated from a survey of handlers and agents of special crops.
According to Statistics Canada, total stocks of dry peas were down 42.6% year over year to 1.6 million metric tons (MT). On-farm stocks fell 46.7% to 1.3 million MT, while commercial stocks fell 13.9% to 309 500 MT.
Total stocks of lentils were down by 36.2% to 1.2 million MT because of lower on-farm stocks, which declined by 38.5% to 1.0 million MT. Commercial stocks fell 13.6% to 146 200 MT.
Canola Inventories Drop In Face Of Strong Demand
As of December 31, canola stocks were down 43.1% year over year to 7.6 million MT, their lowest level since 2007. On-farm stocks fell 50.8% to 5.6 million MT, offsetting commercial stocks, which rose 4.3% to 1.9 million MT. The decline in on-farm stocks was largely attributable to low total supply (-37.5%).
Despite strong international demand, exports fell 43.1% compared with one year earlier. Exports to several trading partners were down from a year earlier. Industrial use, mainly canola crush, fell 13.0% to 3.8 million MT.
Soybean stocks fell 6.4% to 3.3 million MT as of December 31, compared with the same period one year earlier. An increase in on-farm stocks (+4.9% to 2.0 million MT) was offset by a decrease in commercial stocks (-19.3% to 1.3 million MT).
Lower Production Decreases Wheat Stocks
As of December 31, total stocks of wheat were down 38.0% year over year to 15.6 million MT. Commercial stocks rose 14.2% to 4.3 million MT but were offset by on-farm stocks, which fell 47.2% to 11.2 million MT. Lower on-farm stocks were mainly driven by lower production in 2021, which fell because of poor yields caused by drought conditions in the Prairie provinces.
Producer deliveries decreased by 26.4% to 10.7 million MT from a year earlier, as deliveries of wheat excluding durum (-22.0%) and durum (-45.0%) fell.
As of December 31, stocks of barley decreased by 43.6% year over year to 3.1 million MT. On-farm stocks were down 45.4% to 2.8 million MT, while commercial stocks fell 23.3% to 345 500 MT.
Deliveries of barley off-farm edged down 1.1% to 2.6 million MT. Domestic use?largely for feed?fell 39.1% to 2.7 million MT, while exports rose 6.6% to 1.9 million MT, mostly destined for China.
Stocks of oats fell 39.1% year over year to 1.7 million MT as of December 31. On-farm stocks fell 43.8% to 1.4 million MT, while commercial stocks decreased by 2.3% to 297 600 MT. Domestic disappearance fell by 42.7% to 447 100 MT, largely because of lower feed use caused by lower supply, compared with a year earlier.
Total stocks of corn for grain rose 4.1% year over year to 11.5 million MT as of December 31. Commercial stocks rose 34.1% to 4.0 million MT, while on-farm stocks decreased by 6.9% to 7.5 million MT.
Imports of corn for grain more than tripled, climbing 227.1% to a record 1.7 million MT, compared with the same period one year earlier. This was likely caused by high demand for animal feed in Western Canada, where drought conditions reduced the availability of other feed grains, such as barley.
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