Wheat stocks in Canada are 12% higher and rapeseed stocks are 27.4% higher than last year
According to a report released yesterday by Statistics Canada (StatCan), as of April 1, wheat stocks in the country increased by 12% to 19.47 million tonnes compared to the same period last year, including soft varieties – by 10.7% to 16.056 million tonnes.
Rapeseed stocks increased by 27.4% to 9.985 million tons due to a large harvest in 2025 and low export rates.
At the same time, soybean stocks decreased by 45.7% to 1.497 million tons due to active exports and significant domestic demand.
The report’s data increased pressure on canola quotes, especially against the backdrop of falling oil prices. Yesterday, July futures fell by 1.9% to 744 CAD/t or $545/t (+6.3% since the start of the war with Iran).
The increase in Canadian wheat stocks will have a modest impact on the global wheat balance. They will increase supply in addition to the activation of wheat exports from Russia, but will offset a possible reduction in the US harvest caused by drought, as evidenced by the results of the Oklahoma crop tour.
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