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Statistics Canada's March 31 stocks report put canola stocks at 6.57 million tonnes, 37.7% below last year and 30.2% under the five-year average. Barley stocks were 2.81 million tonnes, down 20.5% year on year and 21.6% below the five-year average.
Trader Jerry Klassen called both supplies historically tight and expects barley usage to be rationed before July.
Historically low barley stocks leave little room for feed use before the new crop, which supports prices and may push feedlots to substitute wheat. A further rise in barley prices is possible if usage is not curbed.
farmtario.comMarketsFarmMay 8, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
