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Canadian processors crushed a record 9.295 million tonnes of canola seed in the 2018-19 crop year ending July 31, up 0.3% from the prior record. China has nearly stopped importing Canadian canola seed but is buying more Canadian canola oil and meal.
Processors say trade uncertainty makes new crushing capacity investment unlikely.
Record crush adds meal and oil supply to domestic markets while China shifts to finished products, which weighs on canola meal prices. Limited new capacity would constrain future supply growth.
manitobacooperator.caAllan DawsonSep 5, 2019manitobacooperator.caAllan DawsonSep 5, 2019Not 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.
