September 10, 2009
Larger Canadian grain stocks on lower feed use
Ending stocks of most Canadian grain and oilseeds, as of July 31, were higher than a year ago due to lower feed usage.
The large stocks is expected to limit any price increases in the grain and oilseed markets, especially since crop conditions across most of America are improving and yield estimates have been boosted, according to an analyst.
The lower feed usage was due to reduced herds and increased imports of US corn and DDGS, said the analyst.
Barley stocks as of July 31 were pegged at 2.8 million tonnes, well above average trade estimates and the year-ago level of 1.57 million tonnes, said Statistics Canada.
Wheat stocks should reach 6.556 million tonnes, up more than two million tonnes at the same time last year, said Statistics Canada.
Canola stocks were estimated at 1.661 million tonnes, in line with trade estimates but above the year ago level of 1.462 million tonnes.
