Statistics Canada reports as of March 31, total stocks of canola and wheat were down compared with the same date in 2011. Total stocks of corn for grain and soybeans increased to record levels. Still, the canola stocks figure came in above trade expectations of 4.2 million and 4.8 million metric tons (MMT).
Despite a record harvest of canola in 2011, total stocks stood at 4.3 MMT as of March 31, 2012, down 30.6% or 1.9 MMT from the same date in 2011, says the agency. The drop was primarily in on-farm stocks, where levels fell by 1.7 MMT.
Total wheat stocks declined 8.4%, or 1.3 MMT, to 14.5 MMT. This decline occurred despite a 9.0% increase in the production of wheat in 2011. Commercial stocks increased 10.8% to 4.7 MMT, while on-farm stocks fell 15.3% to 9.8 MMT.
Despite an 8.8% decrease in the production of corn for grain in 2011, stocks rose 8.1% from 2011 to a record 6.2 MMT in 2012. This level was 2.5% higher than the previous record of 6.0 MMT in March 2009. Commercial stocks were down slightly from March 2011 levels, while on-farm stocks were up 13.3% to 4.4 MMT.
Soybean storage was also at a record level in March 2012, as total stocks increased 19.0% to 1.9 MMT. Soybean production fell 2.3% in 2011 from a record high the previous year. The increase in total stocks was concentrated on farms, where stocks rose 34.4%.
Total stocks of principal field crops at March 31
| |
2010 |
2011 |
2012 |
2010 to 2011 |
2011 to 2012 |
| |
thousands of tonnes |
% change |
| Total wheat |
17 106 |
15 803 |
14 479 |
-7.6 |
-8.4 |
| Wheat excluding durum |
12 343 |
12 747 |
11 477 |
3.3 |
-10.0 |
| Durum wheat |
4 763 |
3 056 |
3 002 |
-35.8 |
-1.8 |
| Corn for grain |
5 856 |
5 718 |
6 179 |
-2.4 |
8.1 |
| Canola |
6 462 |
6 157 |
4 273 |
-4.7 |
-30.6 |
| Barley |
5 096 |
3 540 |
3 140 |
-30.5 |
-11.3 |
| Soybeans |
1 490 |
1 574 |
1 873 |
5.6 |
19.0 |
| Oats |
2 066 |
1 694 |
1 323 |
-18.0 |
-21.9 |
| Lentils |
405 |
1 140 |
1 184 |
181.5 |
3.9 |
| Dry field peas |
2 055 |
1 670 |
798 |
-18.7 |
-52.2 |
| Flaxseed |
596 |
369 |
262 |
-38.1 |
-29.0 |
| Mustard seed |
165 |
185 |
152 |
12.1 |
-17.8 |
| Rye |
196 |
132 |
54 |
-32.7 |
-59.1 |
| Canary seed |
164 |
125 |
44 |
-23.8 |
-64.8 |
| Chickpeas |
65 |
65 |
43 |
0.0 |
-33.8 |
| Sunflower seed |
72 |
58 |
14 |
-19.4 |
-75.9 |
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