Canadian Grain Stocks Down On Year
OTTAWA - Feb 7/25 - SNS -- Canada recorded a net year over year decline in grain and oilseeds inventories, according to Statistics Canada December 31 stocks in all positions report.
In releasing the estimates, Statistics Canada said stocks on farms were based on a direct survey of about 8,200 Canadian farmers conducted from December 13, 2024, to January 17, 2025. 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.
Total wheat stocks rose 0.9% year over year to 24.5 million metric tons (MT) as of December 31, 2024, largely because of higher production (+6.1% to 35.0 million MT) compared with one year earlier. On-farm stocks rose 3.4% to 20.9 million MT, offsetting lower commercial stocks, which decreased 11.7% to 3.5 million MT.
Off-farm deliveries of wheat fell 0.4% to 15.3 million MT. Wheat exports increased 0.9% to 10.8 million MT and remained above the five-year average for the period, reflecting strong global demand for Canadian wheat.
Total stocks of corn for grain were up 0.2% year over year to 11.3 million MT as of December 31, 2024. On-farm stocks rose 9.8% to 7.9 million MT while commercial stocks fell 16.8% compared with the same date one year earlier.
Imports of corn for grain fell 52.0% as domestic useâlargely for animal feedâfell 9.7% to 5.8 million MT.
Barley stocks decreased 9.2% year over year to 5.0 million MT as of December 31, 2024. Both on-farm stocks (-8.1% to 4.6 million MT) and commercial stocks (-22.5% to 324 000 MT) fell compared with the same date one year earlier. Domestic useâlargely for feedâdecreased 2.9% to 2.9 million MT.
Stocks of oats decreased 4.4% year over year to 2.2 million MT as of December 31, 2024. On-farm stocks were down 3.5% to 1.9 million MT, while commercial stocks decreased 10.0% to 316 000 MT.
The decline in oat stocks as of December 31, 2024, was led by lower carry-over for the current crop year (-65.3% to 442 000 MT), offsetting higher production in 2024 (+27.0% to 3.4 million MT).
Canola Down, Soy Stocks Up
Total stocks of canola were down 19.2% year over year to 11.4 million MT as of December 31, 2024. The decrease was attributable to on-farm stocks declining 23.5% to 9.9 million MT, while commercial stocks rose 28.3% to 1.5 million MT.
Total opening supply for the 2024/2025 crop year was down 2.7% compared with one year earlier to 20.7 million MT, as lower production in 2024 (-7.0% to 17.8 million MT) offset higher total beginning stocks (+47.9% to 2.7 million MT).
Exports of canola reached their highest level for the period since 2020, rising 80.8% year over year to 4.4 million MT as of December 31, 2024. This increase was possibly attributable to favourable prices and concerns over potential future trade barriers.
Industrial use, mainly for crushing, rose to record levels for the second consecutive year, up 7.5% to 4.9 million MT, as the sector continued to expand to meet demand for renewable energy.
Soybean stocks rose 10.9% year over year to 4.2 million MT as of December 31, 2024. On-farm stocks increased 34.3% to 2.8 million MT, while commercial stocks fell 18.0% to 1.4 million MT.
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