MarketsFarm — Updated supply and demand estimates from Agriculture and Agri-Food Canada, released Tuesday, included only minor adjustments to balance sheets for most major crops.
Statistics Canada releases its first survey-based acreage estimates for the upcoming growing season on Tuesday next week (April 27), which should lead to adjustments in subsequent supply/demand projections.
Canola ending stocks for both the current marketing year and the upcoming 2021-22 crop year were left unchanged at 700,000 tonnes for both years. That would be well below the 3.13 million tonne carryout from 2019-20.
Wheat, durum, barley, and corn saw slight downward revisions to their new-crop ending stocks projections. Total wheat carryout for 2020-21 was unchanged at 5.31 million tonnes, while new-crop wheat ending stocks were lowered to 6.05 million from 6.22 million in March.
The barley carryout for 2020-21 was lowered by 100,000 tonnes, to 500,000 tonnes, while new-crop barley carryout was down by the same amount to an estimated at 700,000 tonnes.
Pulse and special crops only saw minor adjustments on the month.
Tables: April estimates for Canadian major crops’ supply and demand, in millions of metric tonnes. Source: Agriculture and Agri-Food Canada.