# Traders look to new crop following StatsCan stocks estimates - AgCanada

> Statistics Canada reported July 31 canola stocks at 1.35 million tonnes, versus 2.09 million a year earlier, and wheat ending stocks at 6.87 million tonnes. Analysts said the canola market is focused on new crop and rebuilding the commercial pipeline.

- Date: 2017-09-06 · published 2017-09-06T12:00:00.000Z
- Category: report · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/68934-traders-look-to-new-crop-following-statscan-stocks-estimates-agcanada
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Tight canola supplies underpin prices into the new crop year, while higher wheat stocks are a bearish factor for wheat values.

## Read by commodity

- WHEAT: bearish ▼
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-05-01 | [Canadian canola stocks seen dwindling to four-year low - AgCanada](https://feedsoft.ai/events/70966-canadian-canola-stocks-seen-dwindling-to-four-year-low-agcanada.md) | +2.3% | +1.5% |
| WHEAT | 2017-12-12 | [USDA lowers corn ending stocks estimate - Brownfield Ag News](https://feedsoft.ai/events/67346-usda-lowers-corn-ending-stocks-estimate-brownfield-ag-news.md) | +1.4% | +2.5% |
| WHEAT | 2017-09-29 | [A Look at Northern States' Spring Wheat Estimates](https://feedsoft.ai/events/8738-a-look-at-northern-states-spring-wheat-estimates.md) | +5.6% | +10.7% |
| WHEAT | 2017-03-09 | [USDA raises U.S. stocks view as Brazil crop threatens exports - AgCanada](https://feedsoft.ai/events/71936-usda-raises-u-s-stocks-view-as-brazil-crop-threatens-exports-agcanada.md) | +0.7% | +0.6% |
| WHEAT | 2018-09-28 | [Quarterly grain stocks top most estimates - Brownfield Ag News](https://feedsoft.ai/events/62992-quarterly-grain-stocks-top-most-estimates-brownfield-ag-news.md) | +2.6% | +7.8% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/traders-look-to-new-crop-following-statscan-stocks-estimates

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