MarketsFarm — Solid farmer deliveries into the commercial pipeline saw visible Canadian canola supplies hit their highest level in three years, according to the latest Canadian Grain Commission (CGC) data for the week ended Sunday.
Total visible supplies of the oilseed came in at 1.584 million tonnes, which was the highest of the marketing year-to-date and the largest level since November 2016.
Farmers delivered 358,100 tonnes of canola during the week, taking the 2019-20 total to 7.175 million tonnes. That’s up by about 265,000 tonnes from the same point the previous year.
Exports are running slightly behind the year-ago pace, with 3.246 million tonnes of canola exported during the first 18 weeks of the marketing year, compared to 3.46 million at the same point in 2018-19.
However, the domestic crush pace is up sharply. Total domestic disappearance during the crop year-to-date was pegged at 3.698 million tonnes, which compares with only 3.071 million at the same point the previous year.
— Phil Franz-Warkentin reports for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.