December 16, 2009

 

Ag Canada adjusts 2009-10 grain, oilseed ending stocks higher

 

 

Ending stocks of Canada's grain and oilseed crops in the 2009-10 crop year will be higher than previous expectations, especially for wheat and canola, Agriculture and Agri-Food Canada's market analysis division said Tuesday (December 15).

 

Ending stocks of the eight major grains and oilseeds in the 2009-10 (August-July) crop year were forecast at 14.670 million metric tonnes. This was up from the Oct. 8 forecast of 12.145 million tonnes and is just below the 2008-09 level of 15.019 million.

 

The eight major grains and oilseeds produced in Canada are canola, flaxseed, soy, wheat, oats, barley, corn and rye.

 

The increased ending stocks were largely a result of an increase in production, as reported by Statistics Canada.

 

Production of the eight major grains and oilseeds in 2009-10 was forecast at 65.145 million tonnes. This estimate is up from the October level of 61.739 million tonnes but still below the 2008-09 level of 72.635 million.

 

Total exports of the eight major grains and oilseeds in 2009-10 were pegged at 31.133 million tonnes, up from the October projection of 29.983 million, but below the 2008-09 level of 34.200 million.

 

Total domestic usage of the various grains and oilseeds for the 2009-10 crop year was estimated at 36.877 million tonnes. This was down from the October forecast of 37.132 million but slightly above the 2008-09 level of 36.006 million.