Canola crush hits new weekly record

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Published: November 21, 2016

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(Photo courtesy Canola Council of Canada)

CNS Canada — Canadian canola crushers hit a new weekly record during the second week of November, processing more than 200,000 tonnes of canola for the first time ever.

The canola crush during the week ended Wednesday came in at 203,951 tonnes, according to the most recent Canadian Oilseed Processors Association report. The previous record of 198,859 tonnes was hit only three weeks earlier.

A total of 2.68 million tonnes of canola have been crushed to date, which compares with 2.32 million at the same point a year ago.

While crush margins have softened slightly over the past month, they are still well above the year-ago levels.

Processor margins were estimated Friday at $104 per tonne above the nearby futures, which compares with only $48 at the same point a year ago, according to ICE Futures Canada data.

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

About the author

Phil Franz-Warkentin

Phil Franz-Warkentin

Editor - Daily News

Phil Franz-Warkentin grew up on an acreage in southern Manitoba and has reported on agriculture for over 20 years. Based in Winnipeg, his writing has appeared in publications across Canada and internationally. Phil is a trusted voice on the Prairie radio waves providing daily futures market updates. In his spare time, Phil enjoys playing music and making art.

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