LethbridgeNewsNOW

By The Canadian Press and CJWW

Trade issues at play

On-farm canola stocks increase while wheat stocks drop

May 8, 2019 | 1:45 PM

SASKATOON –– Statistics Canada reports canola stocks were 10 million tonnes at the end of March, an increase of 10.5 per cent compared with the previous year.

China’s decision to suspend Canadian canola purchases is the main reason behind the larger volumes of canola stored on-farm.

Farmers are holding an estimated 8.8 million tonnes, up 16.5 per cent over March 31, 2018.

Commercial canola stocks fell 20 per cent to 1.2 million tonnes as farmers reduced deliveries with prices falling below 460 dollars per metric tonne.

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While canola stocks are at record levels, it is a completely different story for wheat.

On-farm wheat stocks are down more than 10 per cent compared to last year and Saskatchewan on-farm stocks are down nearly 16 per cent.

Total wheat stocks decreased 4.3 per cent due to an increase in commercial stocks of wheat.

Stocks for barley, oats, peas and lentils were also lower on March 31st compared to one year ago.