Winnipeg, March 24 (CNS Canada) – The Canadian canola crush hit a new weekly record in the period ended March 22, with processors across the country operating at nearly full capacity.
The crush came in at 208,268 tonnes, up 15.2 percent from the week before, according to the most recent Canadian Oilseed Processors Association report. That puts the crush capacity use for the week at 97.4 per cent, topping the year-to-date pace of 90.2 per cent.
The previous weekly crush record, of 203,951 tonnes, was set in November 2016.
A total of 6.04 million tonnes of canola have been crushed to date, up 13.3 percent over the 5.30 million tonnes crushed at the same point a year ago.
Read Also
Grain Growers call for Port of Vancouver to be included in federal major projects
The Grain Growers of Canada (GGC) is calling on the federal government and the Major Projects Office to designate the Port of Vancouver and its connecting rail infrastructure as a project of national significance. The first list of projects being considered was released Sept. 11.
Crush margins showed considerable improvement over the past week, with the sharp drop in the ICE Futures Canada contracts on March 23 helping nearby margins rise to C$114 above the futures. That compares with values of less than $80 a month ago.
Canadian canola exporters were also strong, according to the weekly Canadian Grain Commission report.
Canola exports in the week to March 19 rose to 256,000, up about 106,000 tonnes from the weak shipments of the previous week.
Canola exports for the crop year so far at up 11.6 percent at 6.85 million tonnes
