# AAFC raises canola stocks projections - Grainews

> AAFC raised Canadian canola ending stocks to 1.0 million tonnes for 2022-23 and 1.05 million for 2023-24, after cutting the export forecast by 200,000 tonnes to 8.4 million. Wheat old-crop exports were raised to 24.4 million tonnes, and Statistics Canada is set to release its first survey-based acreage estimates.

- Date: 2023-04-23 · published 2023-04-23T12:00:00.000Z
- Category: report · region Canada · magnitude low
- Page: https://feedsoft.ai/events/36359-aafc-raises-canola-stocks-projections-grainews
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Higher canola carryout signals looser supplies, a mildly bearish factor for canola meal, while the upcoming StatCan acreage report could shift the outlook.

## Read by commodity

- WHEAT: neutral
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-02-08 | [USDA Trims South American Production, Raises U.S. Ending Stocks](https://feedsoft.ai/events/31630-usda-trims-south-american-production-raises-u-s-ending-stocks.md) | -4.2% | -1.8% |
| WHEAT | 2021-06-10 | [Corn stocks cut in USDA WASDE report - Grainews](https://feedsoft.ai/events/46509-corn-stocks-cut-in-usda-wasde-report-grainews.md) | +5.7% | -5.3% |
| WHEAT | 2016-11-09 | [USDA raises U.S. corn, soybean ending stocks - Brownfield Ag News](https://feedsoft.ai/events/73820-usda-raises-u-s-corn-soybean-ending-stocks-brownfield-ag-news.md) | +0.8% | -0.1% |
| WHEAT | 2024-07-12 | [Coceral raises 2024 EU plus UK wheat crop projection, cuts barley and rapeseed projections](https://feedsoft.ai/events/29190-coceral-raises-2024-eu-plus-uk-wheat-crop-projection-cuts-barley-and-rapeseed.md) | -3.9% | -2.9% |
| WHEAT | 2024-07-30 | [India’s grain production remains strong \| World Grain](https://feedsoft.ai/events/29226-india-s-grain-production-remains-strong-world-grain.md) | +4.9% | -3.3% |

## Sources

- grainews.ca: https://www.grainews.ca/daily/aafc-raises-canola-stocks-projections/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.