Canada Markets

Prairie Canola Basis Remains Weak

Cliff Jamieson
By  Cliff Jamieson , Canadian Grains Analyst
Connect with Cliff:
@CliffJamieson
The demand for hopper cars on the Prairies requested for loading reached a high of 10,221 cars in week 8 (blue line) and dropped to a nine-week low of 7,369 cars in week 15. The 2022-23 trend (brown line) was lower over the balance of the crop year. (DTN graphic by Cliff Jamieson)
The demand for hopper cars on the Prairies requested for loading reached a high of 10,221 cars in week 8 (blue line) and dropped to a nine-week low of 7,369 cars in week 15. The 2022-23 trend (brown line) was lower over the balance of the crop year. (DTN graphic by Cliff Jamieson)

Major Prairie shippers requested 7,369 cars for loading in week 15, or the week ending Nov. 12, as reported by the AG Transport Coalition, the smallest number of cars in 10 weeks and 15.4% below the four-week average of 8,709 cars.

When compared to historical demand for shipping, this number is down 25.8% from the same week in 2022-23 and down 21.5% from the three-year average. At the same time, the brown line on the attached chart points to a downward trend over the balance of the crop year, which represents 2022-23 weekly demand.

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Producer deliveries into licensed facilities in week 20 totaled 1.0783 million metric tons (mmt), the lowest volume reported in five weeks and 13.4% below the four-week average.

Grain in the country elevator system is seen tightening. Stocks across the Prairie provinces and British Columbia were reported at 3.5225 mmt in week 15, the smallest volume reported for this week in four years, down 6% from one year ago and down 6.8% below the four-year average for this week.

Ancedotal reports of slow producer sales due to disappointing prices bears watching.

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

Follow him on X, formerly known as Twitter, @CliffJamieson.

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The demand for hopper cars on the Prairies requested for loading reached a high of 10,221 cars in week 8 (blue line) and dropped to a nine-week low of 7,369 cars in week 15. The 2022-23 trend (brown line) was lower over the balance of the crop year. (DTN graphic by Cliff Jamieson) 
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