COPA ends weekly canola and soybean crush reports

WINNIPEG(CNS) – The Canadian Oilseed Processors Association (COPA) announced Friday it will stop publishing its weekly report on member crushings.

The report detailed how much canola and soybeans were crushed in Canada. The report was sent out weekly and followed by different industry professionals across the country.

Ken Ball of PI Financial in Winnipeg was sorry to hear about the loss of the weekly report when contacted Friday.

“I’ll certainly miss them that’s for sure. We do follow those pretty closely on a weekly basis and in Canada in general we have a dramatically less amount of timely current pertinent information compared to what we get on the U.S. markets from the USDA and other sources,” he said.

COPA said crushing data will still be available through Statistics Canada’s annual and monthly statistics. COPA will also continue to release updates on a monthly basis.

According to Ball it was one of the few timely reports those in the Canadian grains industry had access to.

“Lots of the other information we do get is weeks or months old by the time we get it and makes it much less useful, so it’s a shame to lose that,” he said.

There are domestic usage reports from the Canadian Grains Council released but Ball said he liked having the weekly reports from COPA in order to keep a much closer tab on fluctuations in the crush margins.

The release Friday stated any questions about the discontinuation could be directed to the Executive Director of COPA, Chris Vervaet. When Commodity News Service Canada reached out to COPA on Friday, the office said Vervaet was out of office and unable to answer questions until Monday.

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