Canadian canola crush sets new weekly record

Canada’s canola crush hit a new weekly record during the week ended Wednesday, with processors across the country operating at nearly full capacity.

The canola crush during the week ended March 22 came in at 208,268 tonnes, according to the most recent Canadian Oilseed Processors Association report.

That puts the crush capacity utilization for the week at 97.4 per cent, and the year-to-date level at 90.2 per cent.

The previous weekly crush record, 203,951 tonnes, was set in November 2016.

A total of 6.04 million tonnes of canola have been crushed to date, which compares with 5.3 million at the same point a year ago.

Crush margins showed considerable improvement over the past week, with the sharp drop in the ICE Futures Canada contracts on Thursday helping nearby margins rise to $114 above the futures. That compares with values below $80 a month ago. — CNS Canada

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