Canadian canola exports and domestic usage are both falling behind the year ago pace, according to the latest Canadian Grain Commission data.
The data shows Canada exported only 63,700 tonnes of canola during the week ended Jan. 6 – far below the average weekly movement of about 200,000 tonnes so far in 2018-19. The holiday season, excessive rains at the Port of Vancouver and heavy snowfall in the mountains delaying rail movement likely contributed to the weekly slowdown.
Meanwhile, the year-to-date export pace is also lagging. As of week 23 of the 2018-19 marketing year, Canada had exported 4.41 million tonnes of canola, about 400,000 tonnes behind the same time the previous year.
Total domestic canola usage as of Jan. 6 was pegged at 4.05 million tonnes, a relatively modest 70,000 tonnes behind the 2017-18 pace.
A month ago, canola exports were only running 150,000 tonnes behind the previous year’s pace, while the domestic crush was 60,000 tonnes ahead of what was processed during the same time period the previous year.
Source: DePutter Publishing Ltd.
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