Canada Markets

Prairie elevator space remains ample, with week 42 Canadian Grain Commission data showing elevator stocks at 2.182 million metric tons as of the week ending May 22. This volume has contracted in each of the past 11 weeks since week 31 or the week ending March 7 when the volume was reported at 3.8415 mmt.

In the 2014/15 crop year, country stocks fell for just five consecutive weeks to a low of 2.3859 mmt in week 42, while rebounding higher in the following week.

Week 42 stocks represent just 31.4% of prairie capacity, with Saskatchewan stocks at 29.8% of capacity, Alberta at 32.5%, Manitoba at 33.7% and British Columbia at 42.1%.

While total stocks of all grains on the Prairies are 8.6% below year-ago levels, stocks remain 11.7% above the five-year average. By province, Alberta's stocks as of week 42 are 3.8% below the five-year average, while Saskatchewan stocks are 15.9% above the five-year average and Manitoba stocks are 21.6% above the five-year average.

DTN 360 Poll

This week's question asks how you would best describe the start to the crop seen in your area in 2016. This poll can be found at the lower-right of your DTN Home Page.

We thank you for sharing your thoughts on this and past polls!

Cliff Jamieson can be reached at cliff.jamieson@dtn.com

Follow Cliff Jamieson on Twitter @CliffJamieson

(ES)

© Copyright 2016 DTN/The Progressive Farmer. All rights reserved.