Canada’s year-end canola stocks hit new record

Canada’s canola stocks surged to hit a new record last year, ending 2017 at 14.1 million mt, up 5.7% from 2016 as the country’s record production of 21.3 million mt took its toll.

Canada produces around one-third of the world's canola, otherwise known as rapeseed, and the crop competes with soybean in terms of producing oils.

Soybean stocks in Canada increased 29.2% to 4.3 million mt year-on-year, according to the report by Statistics Canada, which was the result of a rise in on-farm stocks of 58.8%.

In terms of grain, the picture was less pronounced, with wheat stocks down 2.2% to 23.6 million mt, while corn stocks were up 4.7% to 12.2 million mt.

The figures were largely in line with trade expectations.