MarketsFarm — The advancing Prairie harvest has seen an increase in farmer deliveries of grains and oilseeds into the commercial pipeline, according to the latest weekly data from the Canadian Grain Commission.
Export activity for canola remains very light through the first six weeks of the 2022-23 crop year, but growing supplies in the commercial pipeline should see that activity pick up as well going forward.
Farmers delivered 336,100 tonnes of canola during the week ended Sept. 11, up 59 per cent from the previous week and the largest influx of canola since January 2022. Wheat deliveries were also up on the week, topping one million tonnes for the first time ever in data going back 15 years.
Read Also
U.S. grains: Wheat futures rise on supply snags in top-exporter Russia
U.S. wheat futures closed higher on Thursday on concerns over the limited availability of supplies for export in Russia, analysts said.
Wheat exports were also solid during the week at 279,700 tonnes, which compares with 248,100 tonnes the previous week. However, total wheat exports through the first six weeks of the marketing year, at 1.456 million tonnes, were still running 20 per cent behind the year-ago pace.
Canadian canola exports during the week of only 300 tonnes were the lowest on record and well behind the 88,300 tonnes exported the previous week. However, commercial stocks of the oilseed increased to 645,700 tonnes, from 528,300 tonnes, marking the largest visible supplies in two months.
— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.
