Canola Supplies Tight
Written by Glenda Lee Allan
Tuesday, 08 May 2012
Statistics Canada has confirmed canola supplies will be tight this summer.
The agency released its grain and oilseed stocks report yesterday.
"Stocks at 4.35 million tons in all commercial positions was at the bottom end of trade expectations," explains Greg Kostal of Kostal Ag Consulting. "But it does underscore the velocity of export and the domestic pace that we've been consuming."
He says it doesn't leave any wiggle room for surprise demand.
With early seeding, he says the trade is hoping there might be some canola harvested earlier than normal this year to bridge from old crop to new crop.