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Statistics Canada reports processors crushed a record 10.29 million tonnes of canola in 2020, up 7.1 percent, while soybean crush fell 7.8 percent to 1.76 million tonnes. Canola oil and meal output both reached record highs.
Domestic crush took about 41.9 percent of Canada's canola disposition in 2019-20.
Record canola crush adds meal and oil supply domestically while strong vegetable oil demand absorbs it. Lower soybean crush reduces Canadian soymeal output, which may support soymeal prices.
www150.statcan.gc.caGovernment of Canada, Statistics CanadaMar 15, 2021Not 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.
