As indicated on the attached chart, cumulative deliveries of the major gains into licensed facilities as of week 27 or the week ending Feb.7 are 11.8% higher than the same week last year and 23% above the five-year 2010/11-through-2014/15 average.
Canadian Grain Commission statistics show that deliveries in week 27 totaled 1.0708 mmt, 29% above the five-year average for this delivery week.
The largest year/year changes in deliveries are seen in the oilseeds, with canola deliveries totaling 1.1 million metric tons more than the same period last year and deliveries of soybeans into prairie elevators totaling 924,000 mt more than the same period last year. Deliveries of other grains in excess of 2014/15 volumes are bulk lentils (700,900 mt), wheat (295,200 mt), durum (125,000 mt) and oats (120,500 mt), with the year/year change in volume in brackets.
Two crops which lag year-ago deliveries by the widest margins are flax, 67,900 mt behind year-ago volumes and barley at 62,800 mt behind year-ago volumes.
Despite this aggressive movement, primary elevator stocks are just 6.2% higher than year-ago volumes and 15% above the five-year average at 3.6819 mmt. This volume represents 57% of the total system capacity but close to 88% of the estimated working capacity, as reported by Quorum Corporation's estimated working capacity.
DTN 360 Poll
Given current market signals, how do you see the mix of corn and soybean acres changing in 2016 on your farm or in your area? You can weigh in with your thoughts on this week's poll, found on the lower right corner of the DTN Home Page. We thank you for your participation!
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