The Canadian canola crush was little changed in June compared to a month earlier, as processing continued to slow into the end of the old-crop marketing year.
A Statistics Canada crush report Monday showed Canadian oilseed processors crushed 772,345 tonnes of canola last month, up only marginally from 769,942 tonnes in May and the second least since the August 2022 crush of 632,962. However, the June crush was still up nearly 17% from the same month last year after Prairie drought slashed the 2021 Canadian canola crop by about one-third.
With just slightly more than one full month to go before the official end of the 2022-23 marketing year on Aug. 31, the total crush now stands at 9.05 million tonnes, 16.3% ahead of the previous year’s pace and roughly 95% of Agriculture Canada’s full year crush forecast of 9.5 million – up 1 million from 2021-22.
Through the first nine months of the current marketing year, the crush has averaged about 834,750 tonnes per month, but just 771,140 through May and June. The high was in March at nearly 923,000 tonnes.
The national soybean crush amounted to 139,164 tonnes in June, down from 144,992 in May and little changed from 136,398 the previous year.
