Canada. Stocks of principal field crops, Jul 31 - StatCan Вер. 6, 2018

Comparative table of StatsCan data and market expectations

As of July 31, Canada's total stocks of wheat and barley were down from the same date a year earlier, while stocks of canola, oats, dry peas and lentils increased.

Wheat

Total stocks of wheat were down 9.9% to 6.2 million tonnes compared with July 31, 2017. The decline was due to a 22.5% decrease in commercial stocks to 3.5 million tonnes. This was offset by a 15.0% increase in on-farm stocks (+347 000 tonnes).

Despite lower production, higher wheat quality in 2017/2018 (as stated in the latest Canada: Outlook for Principal Field Crop, published by Agriculture and Agri-Food Canada) compared with the previous year contributed to increased exports, which could have lowered commercial stocks.

Canola

At the national level, canola stocks were up 78.2% to 2.4 million tonnes as of July 31, 2018. On-farm stocks, which are concentrated in the Prairie provinces, were behind the increase (+238.9% to 1.4 million tonnes). Commercial stocks were 3.9% higher compared with July 31, 2017, at 954 000 tonnes.

Canola production in 2017/2018 reached a record high 21.3 million tonnes, while deliveries were down compared with the previous crop year, pushing up total stocks as of July 31, 2018.

Dry peas and lentils

Overall stocks of lentils totalled 876 000 tonnes as of July 31, 2018, up 561 000 tonnes (+178.1%) from the same date in 2017. The increase was due to higher farm stocks (+223.7%). Meanwhile, total stocks of dry peas rose 116.7% to 650 000 tonnes.

Increases as of July 31, 2018, could be attributable to higher import tariffs introduced by India. Exports of both dry peas and lentils as of July 31 were down substantially from the same date last year, with dry pea exports declining 21.1% to 3.1 million tonnes and lentil exports falling 36.8% to 1.6 million tonnes.

Barley

Total barley stocks were down 40.8% to 1.3 million tonnes as of July 31. Stocks held on-farm, which accounted for 81.4% of total stocks, fell 42.8% to 1.0 million tonnes. Meanwhile, commercial stocks declined 30.0% to 233 000 tonnes.

Oats

As of July 31, total stocks of oats were up 11.5% to 784 000 tonnes year over year. Increases in both on-farm (+6.3%) and commercial (+35.4%) stock levels led to the overall rise.

Total stocks of principal field crops at July 31