Canada’s canola stocks drop beneath ‘low’ line

(File photo courtesy Canola Council of Canada)

CNS Canada — Canola supplies in commercial hands in Western Canada dropped below one million tonnes during the week ended Sunday, hitting only 854,600 tonnes, according to the latest Canadian Grain Commission report.

Visible canola stocks are typically considered low whenever they move below one million tonnes. Current supplies on hand are the smallest since September 2016, and compare with 1.05 million the previous week.

Farmer deliveries during the latest reporting period came in at only 257,600 tonnes, marking the lowest deliveries since August 2016.

Weekly canola exports, of 323,500 tonnes, were up from both the previous week and the year-to-date average.

Total exports to date of nearly nine million tonnes are already ahead of the total business reported during the previous 2015-16 crop year.

— Phil Franz-Warkentin writes for Commodity News Service Canada, a Winnipeg company specializing in grain and commodity market reporting.

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