Canada Markets

Statistics Canada's February Canadian international merchandise trade report for February highlighted a surge in barley exports to China that contributed to a 12.9% month over month increase in the export of other crop products.

As seen on the attached graphic, barley exports in February surged for the first time in three months to 237,755 metric tons. Of this volume, 185,952 mt was shipped to China, or 78% of the total volume, and was the first month over month increase in three months.

Over the first seven months of the crop year, or as of February, exports total 1.190 mmt, down 44% from the same period last crop year and 39% below the three-year average. AAFC has forecast exports of barley and barley product exports at 2.750 million metric tons, down 29% from the previous crop year.

Commercial stocks reported as of week 35 total 448,400 mt, down 19.5% from one year ago while only 8.3% below the three-year average for this week.

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

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