Weekly Canadian canola exports hit their highest level in more than two months during the week ended Sunday, helping narrow the gap between this year’s export pace and the year-ago movement.
Canola exports of 268,500 tonnes during week 26 of the crop year were roughly double the previous week’s total and the largest movement in a single week since November, according to Canadian Grain Commission data.
The solid movement during the week helped bring the year-to-date total to 5.028 million tonnes, which compares with 5.429 million at the same point in 2018.
While exports are still 400,000 tonnes off the previous year’s pace, that spread had been as wide as 500,000 tonnes for much of January.
Total domestic usage at the halfway point of the 2018-19 crop year of 4.653 million tonnes was slightly ahead of the year-ago pace of 4.536 million tonnes.
Canadian wheat exports during the week ended Sunday, of 278,300 tonnes, were in line with the previous week’s total and took year-to-date wheat exports to 9.253 million tonnes. That compares with only 7.871 million tonnes at the same point the previous year.
— Phil Franz-Warkentin writes for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market reporting.