Canola crushers running at full steam

Richardson International’s canola crushing facility at Lethbridge, shown here in July 2016. (Photo courtesy Richardson International)

CNS Canada — Canadian canola crushers showed no signs of slowing down their record pace over the Christmas and New Year’s holidays, with the weekly crush topping 200,000 tonnes for only the second time ever.

The canola crush during the week ended Wednesday came in at 200,294 tonnes, according to the most recent Canadian Oilseed Processors Association report.

That puts the crush capacity utilization for the week at 93.7 per cent, and the year-to-date level at 89.4 per cent.

A total of 3.99 million tonnes of canola have been crushed to date, up from 3.48 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 Thursday at $116 per tonne above the nearby futures, compared to just $73 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.

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

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