Canada Markets

Canada's significant carryout stocks combined with improved rail shipments in the past several months have allowed a favorable early start to Canada's export program, with the Canadian Grain Commission's weekly report indicating a year-over-year increase in the exports of major grains of 64% to 4.311 million metric tonnes.

Of the major grains shown, wheat exports are 41.7% above year-ago volumes, durum is 49.2% higher, peas volumes are 111% higher and canola is 172% above year-ago levels.

Harvest delays on the Prairies may be temporarily slowing the pace of movement. Terminal receipts at the West Coast, Churchill and Thunder Bay combined are slipping, with week 5 data indicating 665,522 mt unloaded which is the lowest volume seen this crop year as well as the lowest in 20 weeks, while remaining above year-ago volumes.

Weekly primary elevator shipments have fallen every week but one in the five weeks of this crop year. Primary elevator shipments totaled close to 1.1 mmt in week 1, while have fallen to 822,000 mt in week 5. This remains close to 170,000 mt above year-ago shipments.

Cliff Jamieson can be reached at cliff.jamieson@dtn.com

Follow Cliff Jamieson on Twitter @CliffJamieson

(ES)

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