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Wheat, Canola Stocks Shrink

Canada’s supplies of wheat and canola dwindled as of March 31, a Statistics Canada report showed May 6, after farmers reaped a disappointing harvest last year.

Canola stocks were 450,000 tonnes lower than the trade expected on average.

All-wheat stocks fell nearly nine per cent to 15.6 million tonnes, while canola supplies tumbled almost 23 per cent to 4.85 million tonnes.

Oat stocks dropped about 28 per cent to 1.49 million tonnes, the smallest in seven years and in line with trade views. StatsCan reported nearly 40 per cent less durum and 31 per cent less barley in storage than a year ago.

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