MarketsFarm — Canadian canola ending stocks edged higher in 2022-23, while wheat carryout was slightly lower, according to the latest stocks data from Statistics Canada, released Friday.
Barley, oats and peas also saw increases on the year, while lentil supplies tightened.
Total wheat stocks as of July 31, at 3.58 million tonnes were down by 2.2 per cent on the year and well below the five-year average of 5.58 million tonnes. Of the total, durum stocks were down by 30 per cent on the year, at 396,000 tonnes.
Canola, meanwhile, saw the carryout increase to 1.51 million tonnes from an upwardly revised 2021-22 carryout of 1.33 million. The canola stocks were still well below the 2.72 million-tonne five-year average.
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Oats stocks stood out in the data at 1.28 million tonnes, which was up by 283 per cent on the year and well above the five-year average of 518,000 tonnes.
Barley stocks in the country as of July 31, at 708,000 tonnes, were up by 30 per cent on the year.
Among pulses, pea stocks increased by 47 per cent from 2022 to 498,000 tonnes, while lentil supplies fell by 34 per cent at 147,000 tonnes.
The data for stocks of crops held on farms was compiled based off a survey conducted May 15 to June 12, well ahead of July 31, raising some concerns over the accuracy.
The stocks data will likely be revised in subsequent reports, with Statistics Canada allowing for a two-year window of revisions.
— Phil Franz-Warkentin is an associate editor/analyst with MarketsFarm in Winnipeg.
