Canada Markets

As of week 47, or the week ending June 27, producers have delivered a record 42.857 million metric tons of all grains into the licensed primary handling system. This volume represents a 7.3% increase over the same period in 2015/16 while an 18.8% increase over the previous five-year average.

By province, deliveries into Manitoba elevators is 5.7% higher than last year, while deliveries into Saskatchewan elevators are 7.6% higher and Alberta elevators have seen 8.3% more grain delivered. By commodity, producers have delivered 717,400 metric tons less wheat and 421,700 mt more canola than the same period last year. Producers have also aggressively delivered more oilseeds and pulses than the same period last year, with 397,300 mt more soybeans, 757,600 mt more canola, 478,600 mt more lentils and 1.33 mmt more dry peas than the same period last year.

Shipments from primary elevators are tracking deliveries closely, with 41.796 mmt of all grains shipped as of week 47, 7% higher than the same period in the previous crop year and 16.9% higher than the five-year average. All provinces have benefited from higher shipments, with Alberta shipping 6.1% more, Manitoba shipping 6.6% more and Saskatchewan shipping 8% more than in the same period in 2015/16.

As of June 27, primarily elevator stocks of all grains totaled 2.9505 mmt, 5.7% higher than last year and well above the five-year average. This is the highest stocks reported in eight weeks but represents only 40.6% of total Prairies capacity and 62.5% of estimated working capacity.

Looking at selected commodities, canola stocks in primary elevators are reported at 497,400 mt, which is well below last year and the five-year average for this date. In comparison with the same week in 2016, canola stocks in Manitoba elevators have fallen 35.5%, by 47.6% in Saskatchewan and 39.4% in Alberta. Wheat and durum stocks are reported at 1.5176 mmt and 330,000 mt, respectively, both higher than last year and the five-year average for this week. Wheat stocks increased 19.2% year-over year in Alberta, 21.6% in Manitoba, as well as 29.8% year-over-year in Saskatchewan.

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

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