CNS Canada –– Canada’s domestic canola processors are getting busier, with the latest crush data showing the most active week in two-and-a-half months.
Capacity utilization during the week ended Wednesday climbed to 82.8 per cent, which compares with only 66.9 per cent the previous week, according to the latest report from the Canadian Oilseed Processors Association.
A total of 165,368 tonnes were crushed, more than 30,000 tonnes above the previous week.
Domestic crush margins, currently at about $44 above the nearby November futures, are at about half the level they were at the same point in 2014, according to ICE Futures Canada data.
However, the reduced profitability has not yet led to a reduction in processing.
The total canola crush during the 2015-16 crop year to date comes in at 1.187 million tonnes, which is right in line with the 1.19 million tonnes crushed during the first two months of the 2014-15 crop year.