WEEKLY CRUSH UPDATE
COPA members crushed 168,681 tonnes of canola in the week ending Oct. 14 down
8.6% from the week before. The 2015/16 crop year-to-date total crush is
1,540,306 tonnes versus 1,480,866 a year ago. Crush capacity utilization was
84.4% (82.1% last year) and 75.0% year-to-date.
COPA estimates put Canada's soybean crush at 33,898 tonnes in the week ending
Oct. 14, up 11.2%. The 2015/16 crop year to date total crush is 371,982 tonnes
versus the prior year's 238,926. Crush capacity utilization was 51.5% (35.3%
last year) and 55.0% year-to-date.
OPINION: Canadian exports of all crops through CGC licensed facilities as of last week, week 11 of the crop year, were running 6 percent below year ago levels. Farmers last year, prior to harvest, were delivering from the very large 2013 crop.
For the year as a whole Ag Canada forecasts exports 12 percent below last year. This reflects mainly supplies being 10 percent below a year ago. As far as shipping is concerned the railways have consistently moved in excess of a million tonnes a week since new crop supplies picked up in early September. Country elevator stocks have built up since harvest started, and at around 3.2M tonnes are mid way between a level when country elevator supplies limit shipments and when elevators become congested. It seems that most participants’ plans are being met.
David Walker, Edmonton, AB, CA
COPA members crushed 168,681 tonnes of canola in the week ending Oct. 14 down
8.6% from the week before. The 2015/16 crop year-to-date total crush is
1,540,306 tonnes versus 1,480,866 a year ago. Crush capacity utilization was
84.4% (82.1% last year) and 75.0% year-to-date.
COPA estimates put Canada's soybean crush at 33,898 tonnes in the week ending
Oct. 14, up 11.2%. The 2015/16 crop year to date total crush is 371,982 tonnes
versus the prior year's 238,926. Crush capacity utilization was 51.5% (35.3%
last year) and 55.0% year-to-date.
OPINION: Canadian exports of all crops through CGC licensed facilities as of last week, week 11 of the crop year, were running 6 percent below year ago levels. Farmers last year, prior to harvest, were delivering from the very large 2013 crop.
For the year as a whole Ag Canada forecasts exports 12 percent below last year. This reflects mainly supplies being 10 percent below a year ago. As far as shipping is concerned the railways have consistently moved in excess of a million tonnes a week since new crop supplies picked up in early September. Country elevator stocks have built up since harvest started, and at around 3.2M tonnes are mid way between a level when country elevator supplies limit shipments and when elevators become congested. It seems that most participants’ plans are being met.
David Walker, Edmonton, AB, CA
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