October 17, 2010

Canada's grain and oilseed ending stocks down

Ending stocks of Canada's grain and oilseed crops at the termination of the 2010/11 (August/July) crop year will be slightly lower than what was projected in late August and well below the level forecast for 2009/10, according to updated supply/demand tables from Agriculture and Agri-Food Canada's market analysis division released on October 15.

Ending stocks of the eight major grains and oilseeds in 2010/11 were forecast at 10,000 million tonnes. This compares with the August 31 projection of 10.450 million tonnes and the 2009/10 carryover estimate of 16.182 million.

Production of the eight major grains and oilseeds in 2010/11 was pegged at 59.081 million tonnes. This compares with the August output forecast of 60.213 million tonnes and the 66.180 million seen in 2009/10.

The eight major grains and oilseeds include: canola, flaxseed, soy, wheat, oats, barley, corn and rye.

Total exports of the eight major grains and oilseeds in the 2010/11 crop year were projected at 31.112 million tonnes. This was up from the 30.062 million tonnes estimated in August and compares with the 2009/10 forecast of 32.754 million.

Total domestic usage of the various grains and oilseeds for the 2010/11 crop year was estimated at 37.309 million tonnes. This was up from the August projection of 36.954 million tonnes and compares with the current 2009/10 estimate of 35.087 million.