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Estimated Dec. 31 Grain Stocks Based on Current Estimates


This chart projects Dec. 31 grain stocks for select crops (blue bars) as compared to Dec. 2019 (brown bars) and the five-year average (grey bars) based on current supplies estimates from Statistics Canada and demand data from both Statistics Canada and the Canadian Grain Commission. (DTN graphic by Cliff Jamieson)

Ahead of Statistics Canada’s Feb. 5 release of the Stocks of principal field crops report, the attached chart calculates Dec. 31 stocks based on current government estimates of grain supplies, a pro-rated volume of Agriculture and Agri-Food Canada’s import forecast and a combination of Statistics Canada and Canadian Grain Commission reported disappearance in either export channels or domestic markets.

The elephant in the room ahead of this report is canola stocks, given the recent reduction in Statistics Canada’s production estimate and the current pace of movement. As seen on the attached chart, the estimate for canola’s Dec. 31 stocks is pegged at 12.4 million metric tons, which compares to 15.9 mmt this time last year and the five-year average of 14.4 mmt.

The significance of this calculation is seen when one considers the historical disappearance during the final seven months of the crop year, In 2019-20, this volume totaled 12.7 mmt, above the current estimate of Dec. 31 stocks, while the five-year average is 11.6 mmt a pace that would result in an 800,000 mt carryout, or the lowest in eight years.

The calculation for wheat (excluding durum) results in Dec. 31 stocks of 22.7 mmt, which compares to 21.2 mmt estimate for Dec. 31, 2019 and the five-year average of 19.1 mmt. The January-through-July disappearance in 2019-20 is calculated at 16.425 mmt and the five-year average is 14.4 mmt. While the pace of disappearance achieved in 2019-20 would lead to a year-over-year increase in wheat stocks this crop year, the current pace of movement is well-ahead of last year and the USDA is painting an even greater potential for Canada’s exports over the balance of the crop year.



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