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Statistics Canada reported March canola crush at 922,944 metric tons, the largest monthly volume in 24 months and the third largest on record. The cumulative crush through eight months is up 13.8% year-on-year, and the crush margin rose to C$232.95 per tonne in March.
Strong crush increases canola meal supply, which is bearish for meal prices. The crush pace also supports the AAFC forecast of 9.5 million tonnes, which could be revised higher.
dtnpf.comCliff JamiesonApr 27, 2023Not 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.
