Canola crush running close to full capacity

(Photo courtesy Canola Council of Canada)

CNS Canada — Canadian canola processors are running at close to full capacity, with a near record weekly crush posted during the week ended Wednesday.

The weekly canola crush, during the week ending Sept. 21, hit 190,623 tonnes — the second largest on record, according to Canadian Oilseed Processors Association (COPA) data. Crushers were operating at 89.3 per cent of capacity during the week.

While the current marketing year is still in its early stages, the crush pace is already running ahead of the year-ago level.

Nearly 1.2 million tonnes have been crushed to date, compared to one million at the same point the previous year.

Domestic crush margins, currently at about $116 above the nearby November futures, have lost some ground over the past month, but are well ahead of levels of about $43 seen a year ago.

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

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