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Statistics Canada reported November canola crush of 908,261 mt, down from October's record 974,376 mt but above year-earlier levels. Cumulative crush through four months is 13.9% higher than the prior crop year, and oil extraction hit its highest monthly rate since August 2021.
Strong crush supports canola meal output and canola oil supply, meaning ample meal availability is bearish for meal prices while firm crush underpins canola seed demand.
dtnpf.comCliff JamiesonDec 22, 2023Not enough comparable past events yet for a historical read.
After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), and +0.5% over 20.
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.
