Canadian canola, wheat stocks shrink less than expected

By Rod Nickel and Kaven Baker-Voakes

WINNIPEG/OTTAWA – Canadian canola and wheat stockpiles were sharply lower in midsummer from a year earlier but bigger than expected, a Statistics Canada report showed on Wednesday.

Statscan pegged the all-wheat stocks as of July 31, at 5.2 million tonnes, down 27 percent from a year ago but far exceeding the average trade expectation of 4.29 million tonnes.

Canola supplies amounted to 2 million tonnes, down 21 percent but topping the average trade guess of 1.27 million tonnes.

Trade expectations for wheat and canola likely differed widely from Statscan’s stocks estimates because the agency found more crop being stored on …
Go to Source