The following article is from Reuters:
Canada’s stockpiles of wheat and canola as of Dec. 31 shrank from a year earlier due to smaller crops, Statistics Canada said Friday, underscoring tight global supplies that have pushed up food prices and sparked protests.
Canada is the world’s top exporter of spring wheat, durum wheat, canola and oats.
Stocks of all wheat in grain bins and country elevators totaled 20.2 million tonnes at the end of 2010, down 10 percent from a year earlier, Statistics Canada data showed. Canola stocks slipped nearly 13 percent to 8.2 million tonnes.
Oat supplies were down 30.5 percent at 2.1 million tonnes.
Stocks estimates for all three crops were within trade expectations.
Traders and analysts surveyed by Reuters ahead of the report estimated, on average, all-wheat stocks of 20.3 million tonnes, 8.3 million tonnes of canola and 2.1 million tonnes of oats.
Excessive rain last year left millions of acres unplanted in Western Canada and drowned out some crops, downsizing the harvest.
Posted by Haylie Shipp