Statistics Canada released its grains stocks report yesterday (Tue).
It says ending stocks of canola and wheat contracted significantly on the year.
StatCan calculated total canola ending stocks for 2024/25 dropped 50.5 per cent at 1.60 million tonnes.
That saw on-farm stocks tumble from 1.26 million tonnes in July 2024, to 378,000 tonnes this July.
Meanwhile, commercial canola stocks fell to 1.22 million tonnes from 1.96 million.
The federal agency attributed the declines in canola to a 3.4 per cent increase in the domestic crush at 11.40 million tonnes and exports jumping 39.7 per cent at 9.30 million.
The decreases for wheat were somewhat subdued, with total wheat stocks falling 22.1 per cent at 4.11 million tonnes.
StatCan pointed to the 15.4 per cent improvement in wheat exports, which hit a record of 29.20 million tonnes.
As of July 31, commercial wheat stocks were 2.40 million tonnes, down 10.1 per cent and on-farm stocks fell 34.3 per cent at 1.70 million.
