May 16, 2012

Canada's corn stocks up 8.1% despite lower production

Canada's corn stocks rose 8.1% from 2011 to a record 6.2 million tonnes in 2012 despite an 8.8% decrease in the corn production for grain in 2011.

This level was 2.5% higher than the previous record of six million tonnes in March 2009. Commercial stocks were down slightly from March 2011 levels, while on-farm stocks were up 13.3% to 4.4 million tonnes.

Soy storage was also at a record level in March 2012, as total stocks increased 19.0% to 1.9 million tonnes. Soy 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%.