The new crop year is arriving with Western Canada having lower-than-usual old crop supplies and good demand for the new crop, according to a report from Western Producer, citing industry officials.
Mark Hemmes, president of Quorum Corp., said between 4.5 million and 7 million tonnes of grain, oilseed, pulse and special crops carryout is forecast in Western Canada when the current crop year ends July 31.
That is significantly below last year’s 9.37 million tonnes and the five-year average of 8.9 million tonnes.
While forecasting ending stocks can be dicey, Hemmes said, it is an indication that supplies may be tight heading into the new crop year starting on Aug. 1, due what he said will likely turn out to be record crop movement in the second half of 2019-20.
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