# Canola Crush Backs Off but Remains Strong

> 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.

- Date: 2023-12-22 · published 2023-12-22T12:00:00.000Z
- Category: report · region Canada · magnitude low
- Page: https://feedsoft.ai/events/32807-canola-crush-backs-off-but-remains-strong
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

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.

## Read by commodity

- SBO: neutral
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2026-08-26 | [Canada’s canola crush to hit record and continue growing](https://feedsoft.ai/events/6515-canada-s-canola-crush-to-hit-record-and-continue-growing.md) | +9.2% | +3.7% |
| SBO | 2020-12-24 | [Canada's November Canola Crush at Near-Record Levels](https://feedsoft.ai/events/49749-canada-s-november-canola-crush-at-near-record-levels.md) | +4.8% | +1.6% |
| SBO | 2019-09-27 | [Canada's canola crush down slightly in August - Grainews](https://feedsoft.ai/events/57170-canada-s-canola-crush-down-slightly-in-august-grainews.md) | +2.7% | +8.0% |
| SBO | 2021-04-16 | [Soy Crush Up; Short of Record \| Feed & Grain](https://feedsoft.ai/events/47431-soy-crush-up-short-of-record-feed-and-grain.md) | +9.2% | +17.8% |
| SBO | 2018-08-28 | [Canada’s July canola crush set record for the month - McKeany-Flavell](https://feedsoft.ai/events/63514-canada-s-july-canola-crush-set-record-for-the-month-mckeany-flavell.md) | +0.1% | -0.0% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/canada-markets/blog-post/2023/12/22/canola-crush-backs-remains-strong

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.