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Canada’s canola crush down slightly in August

Canola seed, oil and meal. (Photo courtesy Canola Council of Canada)

MarketsFarm — As often has been the case, the canola crush in Canada dipped from July to August, according to Statistics Canada.

The federal agency issued its monthly crush numbers on Thursday with 829,778 tonnes of canola crushed in August, down 2.89 per cent from July’s crush. However, August’s crush was the second most so far in 2019.

Of August’s crush came 362,351 tonnes of canola oil produced. Although a slip of 3.05 per cent from July, August’s production was also the second-largest monthly total this year.

There were 465,424 tonnes of canola meal produced in August, down 2.62 per cent from July. August’s amount ranked as the third most in 2019.

Crush margins in August provided by ICE Futures ranged from $72.19 to $90.53 per tonne, with an average of $81.70. The margins are calculated by ICE using a formula developed by the Canadian Oilseed Processors Association.

Daily crush margins are available on the MarketsFarm website.

Table: Canola crush in 2019 (tonnes)

Month. Crushed.    . Oil produced.   . Meal produced
January 829,640 359,742 468,249
February 635,526 277,382 355,219
March 722,433 313,282 402,932
April 808,945 353,144 453,107
May 815,509 354,617 457,464
June 733,698 318,648 411,993
July 854,510 373,755 477,937
August 829,778 362,351 465,424

Source: Crushing statistics of major oilseeds, Statistics Canada

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