MarketsFarm — As often has been the case, the canola crush in Canada dipped from July to August, according to Statistics Canada.
The federal agency issued its monthly crush numbers on Thursday with 829,778 tonnes of canola crushed in August, down 2.89 per cent from July’s crush. However, August’s crush was the second most so far in 2019.
Of August’s crush came 362,351 tonnes of canola oil produced. Although a slip of 3.05 per cent from July, August’s production was also the second-largest monthly total this year.
There were 465,424 tonnes of canola meal produced in August, down 2.62 per cent from July. August’s amount ranked as the third most in 2019.
Crush margins in August provided by ICE Futures ranged from $72.19 to $90.53 per tonne, with an average of $81.70. The margins are calculated by ICE using a formula developed by the Canadian Oilseed Processors Association.
Daily crush margins are available on the MarketsFarm website.
Table: Canola crush in 2019 (tonnes)
|Month.||Crushed. .||Oil produced. .||Meal produced|
Source: Crushing statistics of major oilseeds, Statistics Canada