Canadian all wheat stocks as of Dec. 31 fell to close a two-decade low, whereas durum stocks had been at their lowest in additional than 30 years.
A Statistics Canada grain stocks report on Tuesday pegged nationwide all wheat stockpiles as of the top of December at 15.564 million tonnes, down 38% from a yr earlier and the tightest since 2002 when all wheat stocks fell to 13.979 million. Durum stocks as of Dec. 31, 2021 had been reported at 2.094 million tonnes, a drop of 56.4% from the earlier yr and a degree not seen since 2.024 million in 1988. Wheat (excl durum) stocks had been down by about one-third in comparison with a yr earlier at 13.47 million tonnes, the bottom since 2007.
The tightness in Dec. 31 wheat stocks is after all as a result of final summer time’s Prairie drought, which slashed nationwide all wheat output by 38% to 21.65 million tonnes. Durum manufacturing fell much more sharply, down nearly 60% to 2.65 million.
With a complete all wheat provide of 27.582 million tonnes to start the 2021-22 crop yr, the December stocks quantity infers Aug. 1- Dec. 31 utilization of simply over 12 million tonnes, in comparison with 15.7 million for a similar interval a yr earlier. Inferred Aug. 1 – Dec. 31 durum use was 1.33 million tonnes, versus 2.51 million the earlier yr.
Producer all wheat deliveries decreased by 26.4% to 10.7 million tonnes from a yr earlier, StatsCan mentioned, as deliveries of wheat excluding durum (-22%) and durum (-45%) fell.
Nationwide on-farm all wheat stocks as of Dec. 31, 2021 had been reported at 11.23 million tonnes, down 47.2% from the earlier yr. Business shares had been up 14.2% at 4.3 million tonnes.
On-farm all wheat stocks in Saskatchewan had been down 53% at 4.45 million tonnes, whereas on-farm durum provides fell 68% to simply 950,000 tonnes. Alberta all wheat on-farm stocks as of Dec. 31 had been down 48% at 4.13 million tonnes, and durum stocks down a whopping 85% at 132,000. Manitoba on-farm all wheat stocks amounted to 2.11 million tonnes, down 34.2%.