AAFC lowers canola ending stocks estimate

Glacier FarmMedia | MarketsFarm — Canadian canola ending stocks for the 2024-25 marketing year are forecast to be tighter than earlier expectations, according to updated supply/demand estimates from Agriculture and Agri-Food Canada (AAFC), released Oct. 21.

Canola ending stocks for 2024-25 were forecast at 2.200 million tonnes, down by 300,000 from the September estimate. That compares with the downwardly revised 2.748 million tonnes of canola carried forward from 2023-24. Usage numbers for 2024-25 were relatively unchanged, with exports steady at 7.500 million tonnes and domestic usage down by only 45,000 tonnes from September at 12.128 million tonnes.

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Wheat ending stocks for 2024-25 were lowered to 4.900 million tonnes, from 5.050 million tonnes in September. Total Canadian wheat exports for 2024-25 were raised by 100,000 tonnes, to 25.400 million tonnes, which would be in line with the 25.334 million tonnes exported in 2023-24.

October estimates for Canadian major crops supply and demand: in million metric tonnes. Source: Agriculture and Agri-Food Canada.

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