MarketsFarm — There was a tremendous drop in canola exports from Canada during week 34 of the 2021-22 marketing year, according to the Canadian Grain Commission.
The commission’s report issued Thursday showed a mere 800 tonnes of canola were shipped overseas. The week before, 128,300 tonnes were outbound.
“We’re really getting close to running out,” said Quorum Corp. president Mark Hemmes of the available canola. “They’re going to put the rest of (what’s available) into the crush.”
Hemmes estimated there were about 13.8 million tonnes of canola in supply for 2021-22. Of that, 4.7 million were exports of canola seed with another four million in canola meal and oil.
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Canola exports were fairly decent in September and October 2021, he said, but by February of this year there was little left to move out.
“Everybody I talked to fully expected that by the time we got to April, there wasn’t going to be much left. That turned out to be true,” Hemmes said.
As of March 27, that 4.7 million tonnes of the Canadian oilseed was 51 per cent of exports the same time a year ago, according the CGC’s grain statistics weekly. At this point in the marketing year, domestic usage tallied a little below 6.1 million tonnes, sitting at 86.5 per cent of total domestic consumption at week 34 of 2020-21.
The 800 tonnes of canola exported last week was by far the marketing year low, handily beating out the previous low of 6,200 tonnes in week 3, according the CGC’s reports. The marketing year high was hit in week 15 at 304,900 tonnes.
Edmonton-based Quorum Corp. is an independent third party that tracks grain movements across the Canada, monitoring the system’s efficiency and reliability.
— Glen Hallick reports for MarketsFarm from Winnipeg.
