Monday, May 9, 2011

Canada Reports Significant Fall in Canola and Barley Stocks and a Rise in Corn Stocks

Canadian Stocks of principal field crops at March 31, 2011

As of March 31, total stocks of canola and barley fell significantly compared with the same date in 2010. By contrast, total stocks of corn for grain rose slightly above March 2010 levels, the result of increased production in 2010.

Total stocks of canola were 4.9 million metric tonnes, down 22.8 % or 1.4 million metric tonnes from March 31, 2010. Overall, total stocks at March 31 are getting closer to what they were in years 2007 and 2008, after having increased substantially in 2009 and 2010. Prairie on-farm stocks fell 34.9% to 3.4 million metric tonnes with large declines reported in Manitoba and Saskatchewan. However, commercial stocks of canola rose 38.4% to 1.4 million metric tonnes. Prairie production of canola fell in 2010, the result of a decline in yield.

Total stocks of barley dropped to 3.5 million metric tonnes as of March 31, down 31.0% from 5.1 million metric tonnes reported in March 2010. Barley production fell significantly in 2010, the result of a large decline in harvested area. This is the second annual decrease since 2009. On-farm barley stocks fell 33.4% to 3.0 million metric tonnes, and declines were noted in all three Prairie provinces. Commercial stocks of barley dropped 12.4% to 510,000 metric tonnes.

Total stocks of corn for grain at the national level reached 5.9 million metric tonnes, up 1.9% from March 31, 2010, and remained near the record high of 6.0 million metric tonnes set in 2009. There was a strong increase in crop production in 2010, the result of large increases in crop yield. Over the last four years, the total stocks of corn for grain have been close to the 2009 record high. Commercial stocks of corn for grain rose 226,000 metric tonnes to 1.8 million metric tonnes, a 14.3% increase.