Visible Canadian canola supplies tighten

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CNS Canada — Visible canola supplies in Canada dipped below one million tonnes for the first time since the 2017 harvest, according to the latest Canadian Grain Commission data.

Canola stocks in commercial hands as of Sunday were pegged at 991,400 tonnes by the Canadian Grain Commission in its latest report. That’s down by about 90,000 tonnes from the previous week.

Visible canola stocks are typically considered low whenever they move below one million tonnes.

Farmer deliveries during the latest reporting period came in at only 196,500 tonnes, which marked the smallest deliveries since August 2017, and compares with the previous five-week average of about 300,000 tonnes.

Weekly canola exports, of 253,900 tonnes, were up from the previous week. Domestic disappearance came in at 177,400 tonnes.

Canadian wheat supplies in the commercial pipeline also tightened over the past week, with visible supplies of 1.999 million tonnes, marking the first time wheat stocks fell below two million since September 2016.

— Phil Franz-Warkentin writes for Commodity News Service Canada, a Glacier FarmMedia company specializing in grain and commodity market reporting.

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