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The ICE Canola Board Crush Margin fell sharply from mid-July levels, with November 2024 canola at C$102.00 per tonne on July 18 versus C$146.67 a week earlier. The index is based on soybean oil and meal values minus canola futures.
A collapsing crush margin signals that canola is expensive relative to soy products, which discourages crushing and weighs on canola demand.
marketsfarm.comAdam PeleshatyJul 19, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
A sharp drop in the ICE canola crush margin index through July 18 signals weaker processing economics and falling canola values, consistent with downward pressure on canola meal heading into July 22.
