Visible canola supplies building: CGC report

CNS Canada – Canadian canola stocks in the commercial pipeline increased for the fifth-straight week, according to the latest data from the Canadian Grain Commission, as solid post-harvest deliveries more than made up for the routine demand from exporters and the domestic crush sector.

Farmers delivered 499,900 tonnes of canola during the week ended Oct. 28, according to the CGC report. That was down from the 636,500 tonnes delivered the previous week, but still well above the average weekly deliveries over the past year of about 360,000 tonnes.

Weekly canola exports of 316,500 tonnes were up from the 252,000 tonnes exported the previous week. However, total exports during the crop-year-to-date of 2.334 million tonnes were lagging the year-ago pace of 2.389 million. The domestic crush was also running slightly behind the year-ago pace, with the 146,200 tonnes crushed during the week taking the 2018/19 total to 2.070 million tonnes. That compares with the 2.157 million tonnes crushed during the first three months of the 2017/18 crop year.

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