Canadian wheat, pea and lentil stocks surge at end of 2025-26 crop year
Canada ended the 2025-26 crop year with sharply higher inventories of wheat, dry peas and lentils. Wheat stocks reached 6.6 million tonnes despite record exports, increasing the volume available to the market as the next harvest begins.
Wheat inventories reach 6.6 million tonnes
Canadian wheat inventories rose sharply at the end of the 2025-26 crop year, leaving exporters and domestic buyers with a larger supply buffer as the next harvest enters the market. Statistics Canada reported that total wheat stocks reached 6.6 million tonnes on July 31, 2026, an increase of 56.8% from a year earlier. The agency attributed the buildup largely to record wheat production during the crop year.
The increase was distributed between commercial facilities and farms. Commercial wheat stocks climbed 72.5% to 4.1 million tonnes, while on-farm inventories rose 36.4% to 2.5 million tonnes. Wheat excluding durum accounted for 5.5 million tonnes, up 48.8%, and durum stocks more than doubled, rising 115.2% to 1.1 million tonnes.
The accumulation occurred despite stronger movement through the Canadian supply chain. Wheat deliveries increased 9.6% to 38.3 million tonnes during the crop year, while total exports rose 1.5% to a record 29.7 million tonnes. Record shipments were therefore insufficient to absorb the additional supply generated by the harvest.
Pea and lentil stocks more than double
Canada also entered the new marketing year with substantially larger pulse inventories. Dry pea stocks rose 141.7% to 1.2 million tonnes, supported by higher production in the 2025 growing season. On-farm holdings increased 245.8% to 875,000 tonnes, while commercial stocks grew 29.7% to 306,000 tonnes. Dry pea exports nevertheless advanced 22.2% to 2.7 million tonnes.
Lentil inventories reached 1.3 million tonnes, an increase of 128.9%, mainly because of higher total supply. Farmers held 1.1 million tonnes, more than twice the previous year’s volume, while commercial inventories increased 26.0% to 194,000 tonnes. Lentil exports rose 32.6% to 2.4 million tonnes, showing that stronger foreign demand did not prevent a major expansion in carryover supply.
Canola rises as barley moves in the opposite direction
The broader stocks report showed contrasting conditions in oilseeds and coarse grains. Canola stocks increased 18.9% to 1.9 million tonnes. On-farm stocks surged 121.4% to 837,000 tonnes, but commercial inventories fell 12.8% to 1.1 million tonnes. Industrial use, mostly crushing, reached a record 12.9 million tonnes after rising 13.0%, reflecting continued expansion of processing capacity serving renewable-fuel demand.
Canola exports declined 4.5% to 9.0 million tonnes. Statistics Canada said the fall largely reflected slower shipments in the first half of the year, when tariffs imposed by China reduced export demand. Barley presented the clearest countertrend: stocks fell 24.7% to 940,000 tonnes as on-farm holdings declined 37.2% to 624,000 tonnes. Commercial barley stocks increased 23.9% to 316,000 tonnes, while off-farm deliveries rose 34.6% to 5.5 million tonnes and exports climbed 47.1% to 4.2 million tonnes. Statistics Canada noted that, beginning in 2025, its July 31 on-farm stock estimates are modelled using survey estimates and administrative data, an important methodological consideration when comparing reported farm inventories across years.
