Source: Phil Franz-Warkentin, Producer.com, September 13, 2018
Canadian canola ending stocks as of July 31, came in at about a million tonnes above the previous year’s carryout, but were still well within trade expectations.
Canola supplies as of July 31 were estimated at 2.391 million tonnes by Statistics Canada, with 954,000 tonnes of that in commercial hands and 1.437 million tonnes on-farm. That compares with 1.342 million tonnes of total stocks at the same point the previous year, with most of the difference linked to a sharp increase in on-farm stocks. The five-year ending stocks average for canola is 1.9 million tonnes.
ICE Futures canola contracts had little reaction in response to the report Sept. 6, with prices holding within a dollar of the previous day’s close two hours after the release.
