Winnipeg, Jan. 6 (CNS Canada) – Canadian canola crushers showed no signs of slowing 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 Jan. 4 came in at 200,294 tonnes, according to the most recent Canadian Oilseed Processors Association report. That puts the crush capacity use for the week at 93.7 percent, and the crop year-to-date level at 89.4 percent.
A total of 3.99 million tonnes of canola have been crushed to date, up 14.7 percent 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 at C$116 per tonne above the nearby futures on Jan. 5, which compares with only $73 at the same point a year ago, according to ICE Futures Canada data.
