Old-, New-Crop Canola Ending Stocks Forecasts Revised Higher

Agriculture Canada has sharply raised its old- and new-crop canola ending stocks forecasts amid a hefty downgrade in expected exports. In updated monthly supply-demand estimates released Tuesday, Ag Canada projected 2023-24 canola ending stocks up 550,000 tonnes from last month to 2.55 million. That is up more than 1 million tonnes from the previous year, although still near the five-year average.Meanwhile, 2024-25 canola ending stocks are now forecast at 2.5 million tonnes, compared to 1.65 mil