Image

 

Statistics Canada reported larger-than-expected ending stocks of Wheat and Canola in the principal field crop stocks report released this week.

Chuck Penner of Leftfield Commodity Research shares his reaction.



Total stocks of Canola were estimated at 1.8 million tonnes, where analysts had been anticipating closer to 1 million.

All-wheat stocks are pegged at 7.2 million tonnes while market expectations were in the 5.5 to 6.8 million tonne range.