Canadian canola exports a million tonnes off year-ago pace

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MarketsFarm – Canadian canola exports are running roughly a million tonnes behind the year-ago pace with only one week to go in the 2018/19 (July/August) marketing year, according to the latest Canadian Grain Commission data. However, solid wheat and barley exports mean that total grain and oilseed exports are up on the year.

Canada has exported 9.05 million tonnes of canola as of July 21, according to the CGC weekly data. That compares with 10.06 million tonnes exported during the same timeframe the previous year. Weekly exports had averaged around 200,000 tonnes per week in the first half of the crop year, before the diplomatic dispute with China hampered business to that major buyer. Exports have average closer to 160,000 tonnes per week since January.

Agriculture and Agri-Food Canada currently forecasts total canola exports for 2019/20 of 9.30 million tonnes.

While canola exports are lagging, wheat exports are up on the year. Total wheat exports to date of 17.76 million tonnes compare with 15.85 million at the same point a year ago. Barley business of 2.14 million tonnes as of July 21 is up by about 260,000 tonnes on the year.

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