Ag Canada Raises Durum, All Wheat Stocks

Agriculture Canada has ramped its 2025-26 durum and all wheat ending stocks estimates from last month, with durum stockpiles potentially hitting a multi-year high. 

In its September supply-demand estimates released Friday, Ag Canada forecast durum ending stocks at 1.2 million tonnes, up sharply from the government’s August estimate of 550,000 and potentially the highest since 2018-19 at 1.832 million. 

Meanwhile, 2025-26 all wheat stocks are now projected by Ag Canada at 5.2 million tonnes. That’s up from 4.35 million last month and 4.112 million the previous year, although still below the 2023-24 all wheat stocks level of 5.278 million. 

The changes from last month are due mainly to the Sept. 9 Statistics Canada grain stocks report - which raised the durum and all wheat carryins from the previous crop year - as well as the Sept. 17 Statistics Canada crop production report that showed larger than expected Canadian wheat and durum crops for 2025. 

For durum, the StatsCan production report put this year’s crop at 6.535 million tonnes, up from Ag Canada’s August estimate of 5.993 million and even above the 2024 crop of 6.38 million. Combined with a larger carryin from 2024-25 of 496,000 tonnes (versus the August estimate of just 260,000), the total 2025-26 durum supply is now seen at 7.036 million tonnes, up from 6.277 million in August and near 7.054 million a year earlier.