Latest Ag Canada forecast ups 2012-13 grain and oilseed production

Agriculture and Agri-Food Canada has slightly increased its production estimates for the major grains and oilseeds for the upcoming crop year, which starts in August.

The latest estimates from its market analysis division pegs total production at 70.320 million tonnes, up slightly from its February forecast of 70.120 million tonnes and 2011-12 production of 65.856 million.

Ending stocks of the eight major grains and oilseeds in 2012-13 are now pegged at 11.305 million tonnes, down from February’s projection of 11.705 million tonnes, but above the 2011-12 forecast of 10.310 million.

Total exports for the 2012-13 crop year is projected at 33.668 million tonnes, up slightly from the February forecast of 33.268 million and the 2011-12 estimate of 33.143 million.

Total domestic usage of the various grains and oilseeds for the 2012-13 crop year is estimated at 37.490 million tonnes, which is down slightly from the 37.665 million projected in February. In 2011-12 domestic usage has been forecast at 37.164 million tonnes.

The eight major grains and oilseeds include: canola, flaxseed, soybeans, wheat, oats, barley, corn and rye.

March estimates for Canadian 2012-13 and 2011-12 grain and oilseed supply and demand. Domestic usage numbers include food and industrial use as well as feed, waste, and dockage. In million metric tonnes. Source: Agriculture and Agri‑Food Canada.

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