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Statistics Canada reported that canola crush in 2023 reached a record 10.523 million tonnes, up 20% from 2022. The increase reflected high canola oil prices and strong oil exports.
Canola meal output totalled 6.2 million tonnes.
Record crush increases meal supply, which is bearish for canola meal prices. Strong oil demand supports crush margins and keeps processing volumes high.
grainews.caGFM Network NewsMar 13, 2024Not 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.
