Canola supplies in commercial pipeline hit fresh high

Reading Time: < 1 minute

Published: February 14, 2020

, ,

A canola field blooms in Manitoba’s Interlake on July 11, 2019.  (Greg Berg photo)

MarketsFarm — Visible canola supplies in the commercial pipeline hit their highest level in more than three years in the latest Canadian Grain Commission data, with the slow pace of export movement likely to keep those stocks at burdensome levels.

Total visible Canadian canola supplies as of Sunday were pegged at 1.6 million tonnes. That’s the highest canola stocks in commercial hands since the fall of 2016 and about 600,000 tonnes above the level reported at the same time a year ago.

About two-thirds of the visible canola was being held in primary elevators across the Prairies, with only 131,200 in an export position in Vancouver.

Read Also

Photo: Getty Images Plus

Alberta crop conditions improve: report

Varied precipitation and warm temperatures were generally beneficial for crop development across Alberta during the week ended July 8, according to the latest provincial crop report released July 11.

Vessels waiting to load are reportedly backing up on the West Coast, with protests slowing rail movement across the country expected to cause further disruptions.

Total farmer deliveries during the crop year-to-date of 10.7 million tonnes are up seven per cent from the same time the previous year. Meanwhile, exports to date of 4.7 million tonnes are about half a million tonnes behind the 2018-19 pace.

Domestic disappearance remains solid, with the 183,200 tonnes processed during the latest reporting period bringing the year-to-date total to 5.5 million tonnes. That’s up by 13 per cent from the same time a year ago.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

About the author

Phil Franz-Warkentin

Phil Franz-Warkentin

Editor - Daily News

Phil Franz-Warkentin grew up on an acreage in southern Manitoba and has reported on agriculture for over 20 years. Based in Winnipeg, his writing has appeared in publications across Canada and internationally. Phil is a trusted voice on the Prairie radio waves providing daily futures market updates. In his spare time, Phil enjoys playing music and making art.

explore

Stories from our other publications