According to recent data, stocks of Canada’s main field crops have declined, primarily in the western region of the country where dry growing conditions have led to poorer yields. The end-of-year figures reveal a decrease in the total wheat stocks by 10.3%, amounting to 20.7 million metric tons as of December 31.
On-farm stocks of wheat saw an even steeper decline of 11.7%, while deliveries of wheat off-farm slipped 1.7%. However, wheat exports increased by 2.7%, reaching 10.6 million tons.
In contrast, Canadian stocks of canola experienced a slight increase of 1.3% compared to the previous year, totaling 12.9 million tons. This growth can be attributed to an upsurge in on-farm stocks which offset the decrease in commercial stocks. Canola exports, on the other hand, declined by 25.2% to 2.5 million tons due to lower demand resulting from a global supply surge in other oilseeds such as soybeans.
The end-of-year figures also indicated a 4.8% decrease in total corn for grain stocks, which amounted to 11.3 million tons as of December.
Soybean stocks showed promise with a rise of 9.8% due to increased production, reaching 3.8 million tons. On-farm stocks of soybeans increased by 7.0%, and commercial stocks experienced a substantial gain of 13.5%.
The data on crop stocks held on farms was gathered from a survey conducted among approximately 9,600 Canadian farmers. The information on commercial stocks was sourced from the Canadian Grain Commission, with figures for commercial stocks obtained through a survey of crop handlers and agents.