As of March 31, wheat stockpiles in Canada, the world’s second largest exporter, have increased 46.9% over last year to 21.3 million tons, as the country’s canola stockpiles have nearly doubled, increasing 99.1% to 9.02 million tons from last year’s 4.53 million tons according to Statistics Canada. In 2013 Canada’s wheat production increased to a record 37.5 million tons and its canola production reached a significant 18 million tons. The double-bumper crops caused downward shifts in prices and logistical backlogs, especially for the country’s rail system. Wheat stocks held on farms increased 72.5% and canola stock held on farms soared 143.1% reaching records across all three of the country’s prairie provinces.
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