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Canadian canola exports picking up

CNS Canada — Weekly Canadian canola exports hit their second-highest level of the marketing year to date during the latest reporting period, although total out-of-country business is still running behind the year-ago level.

Canada exported 293,300 tonnes of canola during the week ended Sunday, according to the latest Canadian Grain Commission data.

That compares with only 149,800 tonnes the previous week and the prior five-week average of 226,500 tonnes.

During the crop year to date, Canada has exported 3.494 million tonnes of canola, which is slightly off the 3.595 million tonnes exported during the same period a year ago.

Part of the slower export pace is likely tied to the larger demand from the domestic crush sector. Canadian canola crushers have processed 3.467 million tonnes of canola to date, about 500,000 tonnes ahead of the year-ago pace.

— Phil Franz-Warkentin writes for Commodity News Service Canada, a Winnipeg company specializing in grain and commodity market reporting.

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Phil Franz-Warkentin writes for MarketsFarm specializing in grain and commodity market reporting.

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