Record-high Canadian canola supplies in commercial pipeline

MarketsFarm — Visible canola supplies in the Canadian commercial pipeline are sitting at historically high levels, according to Canadian Grain Commission data.

A total of 1.75 million tonnes of canola were sitting in commercial hands across Canada during the week ended Oct. 18 — only slightly off the record of 1.786 million tonnes set only two weeks prior, according to data going back 13 years.

The commercial pipeline, in CGC terms, includes line company elevators, export terminals, railcars and domestic processors.

While supplies typically rise at harvest time, current levels are about 300,000 tonnes above the previous five-year average for week 11 of the crop year.

Average visible canola supplies over the course of the 2019-20 crop year came in at about 1.23 million tonnes.

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