Analysis

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Stocks of principal field crops at December 31, 2011

As of December 31, 2011, total stocks of most principal field crops, including commercial and on-farm inventories, were down compared with the same date a year earlier.

Despite record production of canola in 2011, up 10.9% from 2010, total stocks declined for the second consecutive year, down 1.5% to 9.3 million tonnes, as a 2.4% decline in on-farm stocks more than offset a slight increase in commercial stocks.

On-farm stocks of all types of wheat fell 4.0% to 16.3 million tonnes. However, commercial stocks increased 20.9% to 4.7 million tonnes. As a result, total stocks edged up 0.6% from December 31, 2010 to just under 21.0 million tonnes, despite a 9.0% increase in wheat production in 2011. The decline in on-farm stocks at the national level was the result of a drop in on-farm storage in Saskatchewan and significant declines in production and on-farm storage in Manitoba.

Total stocks of corn for grain fell 4.0% to 8.6 million tonnes in tandem with a decline in production. However, on-farm stocks rose 1.5% to 6.8 million tonnes, the result of a 4.9% increase in on-farm stocks in Ontario, where they reached a record high.

Total stocks of oats fell 14.5% to 2.0 million tonnes, driven primarily by a 14.2% drop in on-farm stocks. These declines occurred despite a 20.9% increase in oats production in 2011. Similarly, on-farm stocks of barley declined 9.6%, pushing total stocks down 10.8% to 5.1 million tonnes from December 31, 2010 levels. Barley production rose 2.0% in 2011. For both barley and oats, declines in total stocks have been recorded for the last 3 years.

For soybeans, total stocks rose 0.6% to 2.6 million tonnes, while production slipped 2.3% in 2011. On-farm stocks increased 20.2% to 1.8 million tonnes, compared with the same date a year earlier. This increase was driven by record on-farm storage levels of 1.1 million tonnes in Ontario. Meanwhile, commercial stocks fell 26.9% to 770,000 tonnes, their lowest level since 2003.