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Stats Canada Grain Stocks
In addition, stocks of both grain corn and soybean on farms in Ontario and Quebec hit record highs.

Total stocks of grain at March 31 Crop 2004 2005 2004 to 2005 '000 tonnes % change
All wheat 13,670 15,248 11.5
Wheat excl. durum 10,492 11,114 5.9
Barley 5,811 6,733 15.9
Grain corn 4,948 5,268 6.5
Durum wheat 3,179 4,133 30.0
Canola 2,524 3,739 48.1
Oats 1,525 1,874 22.9
Soybeans 850 1,365 60.6
Dry peas 945 1,793 89.7
Flax 335 237 -29.3

Total stocks of durum wheat, barley, oats, canola and dry peas were higher than they were as of March 31, 2004 and all increased to amounts above their 10-year averages. However, wheat excluding durum bucked the trend as stocks were higher than levels in March 2004 but below the 10-year average. At the same time, flaxseed stocks hit a record low.

Overall quality is well below average, with a greater than average volume of wheat and barley graded as feed grade and, according to some industry reports, much of this is very poor quality feed. Together with the larger production of feed grains harvested in the fall of 2004, this could help to explain the abundance of stocks despite higher cattle inventories due to the closure of the US border to ruminants.

Jump in total wheat stocks, durum nears a record

Total wheat stocks (both those on farms and stocks in commercial positions) amounted to 15.2 million tonnes as of March 31, 11.5% or 1.5 million tonnes higher than the 13.7 million tonnes reported in March 2004.

Total stocks of wheat excluding durum rose 5.9% to 11.1 million tonnes. On-farm stocks rose by a larger percentage, up 10.9% to 7.9 million tonnes. The 10-year average is 7.3 million tonnes and the record stock level set in 1987 was 15.8 million tonnes.

Stocks of durum wheat were at 4.1 million tonnes, an increase of 30.0% compared to the level of 3.2 million tonnes reached on March 31, 2004. The 10-year average is 3.4 million tonnes.

On-farm durum stock amounts remain at a near record level. Total on farm stocks were reported at 3.0 million tonnes, up 680,000 tonnes from March of 2004. The record is 3.1 million tonnes reported in 2001. The majority of durum is grown in Saskatchewan, where 2.5 million tonnes was reported. The record for Saskatchewan is 2.6 million tonnes.

Total stocks of barley continue to rise

Total stocks of barley rose to 6.7 million tonnes as of March 31, up 15.9% from 5.8 million tonnes in March 2004. The 10-year average is 6.0 million tonnes.

On farm stocks rose in all Prairie provinces and all were above their respective 10-year averages.

This increase in stocks is the result of an unusually large harvest in 2004 across the West that exceeded demand for use as feed in the domestic livestock sector as well as reduced exports.

Canola stocks rise just shy of a record

Total stocks of canola were 3.7 million tonnes, an increase of 1.2 million tonnes from the March 2004 level of 2.5 million tonnes. Commercial stocks fell by 25.0% to 757,000 tonnes, while farm stocks jumped by 96.8% to 3.0 million tonnes. The rise in stock levels was mainly the result of an increase in production in the fall of 2004 that is being retained in farmers' bins due to less than encouraging prices.

The record for total stocks of canola in Canada was set in 2000 at 3.9 million tonnes. The 10-year average is 2.6 million tonnes.

Record stocks of grain corn and soybean

Farmers experienced record yields in Eastern Canada in 2004. As a result, stocks of grain corn rose 6.5% to a record 5.3 million tonnes, breaking the previous peak set in 2004 at 4.9 million tonnes.

On farm stocks were reported at record levels in both Ontario and Quebec. Corn producers appear to be holding on to their stores of grain corn hoping for better pricing opportunities as the crop-year progresses. Prices on the domestic and international markets have been very poor as a direct result of the record corn crop in the United States in 2004.

Total stocks of soybeans were 1.4 million tonnes, 60.6% above the 850,000 tonnes in storage on March 31, 2004, and well above the previous record of 1.2 million tonnes set in 2001. A dramatic rise in production in 2004 coupled with producers' resistance to sell at low market prices is the main reason for the increase in stocks.

On farm stock records were set in both Ontario and Quebec.
MGR Archive 8.5.2005
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