Canola, durum, and pulse crop supplies in Canada were significantly tighter than a year ago heading into the 2020 harvest, according to Statistics Canada’s quarterly stocks report published September 4th.
Total stocks of canola as of July 31 were down by over one-third (-34.3 per cent) year over year to 2.7 million tonnes, says the agency. This was largely a result of strong domestic crushing demand, which hit a record 10.1 million tonnes for the year. Despite ongoing challenges with sales into China, total canola exports rose 10.5 per cent, with increased shipments to several European countries and the United Arab Emirates.
Wheat supplies declined 14.6 per cent year over year to 5.0 million tonnes as of July 31, led by a huge decrease in durum wheat stocks. Durum supplies were down 63.2 per cent from a year prior, sitting at 659 800 tonnes as of July 31.
For pulse crops, strong exports dramatically tightened supplies versus a year ago. The agency says lentil stocks totalled 61 000 tonnes as of July 31, down 91.5 per cent from a year earlier — driven by a 33.3 per cent increase in exports, mainly to India, Turkey and the United Arab Emirates. (Exports to India have already slowed down as the Indian government pushed its tariff on Canadian lentils back up to 33 per cent as of September 1.)
Supplies of peas declined 25.0 per cent year over year to 234 100 tonnes as of July 31, according to Stats Can. This was driven by a 17.2 per cent jump in exports, including an approximately 75 per cent jump in dry pea shipments to China.
Barley and oat supplies were higher than a year ago, with increased production last year resulting in barley stocks rising 10.9 per cent as of July 31.
Oat stocks were up 7.3 per cent versus a year ago, as increased production last year more than offset increases in demand. Stats Can says the amount of oats used for food was up 13.2 per cent, while animal feed consumption was also up — 16.2 per cent, and exports of oats rose 7.6 per cent.
Stats Can will publish stocks data for corn and soybeans as of August 31 on October 6, which corresponds with the end of the crop-year cycle for corn soybeans.
The agency will also publish updated yield and crop production estimates based on satellite imagery at the end of August on September 14.