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Statistics Canada reported a record October canola crush of 931,060 tonnes, up 5.5% year on year and 10% above the three-year average. Year-to-date crush is 2.547 million tonnes, up 2.7%.
AAFC kept its 9.8 million tonne crush forecast unchanged and a 2.25 million tonne carryout.
Strong crush keeps demand for canola seed high and supports canola meal supply for feed, though the pace needed to meet forecasts is manageable, leaving the outlook balanced.
dtnpf.comCliff JamiesonNov 24, 2020Not 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.
