WINNIPEG, Manitoba--Statistics Canada reported sizeable increases in the July canola crush when compared with a year ago. In fact, the month's crush wasn't only a record for July but also for any month.
The July soybean crush was slightly lower than in July 2022, StatCan said Thursday.
The federal agency pegged the canola crush for last month at 961,683 metric tons, up 24% from the previous July. The previous record was 854,510 tons in 2019 and the overall record of 957,952 tons was in March 2021.
The amount of oil produced this past July rose 24% to 402,886 tons but was well short of the record of 416,849 tons in March 2021.
Canola meal produced in July increased 23% from a year ago to 567,153 tons. That made for a new record, besting the 545,992 tons in March.
At 151,621 tons, StatCan found a 5.3% decline in Canada's soybean crush. That resulted in a 6.5% drop in oil produced to 28,497 tons and meal produced was down 5.4% to 118,483 tons.
Canola Crushed (metric tons) Month Crushed Oil Prod Meal Prod July 2022 773,998 324,439 463,116 July 2023 961,683 402,886 567,153 Soybeans Crushed (metric tons) Month Crushed Oil Prod Meal Prod July 2022 160,176 30,483 125,248 July 2023 151,621 28,497 118,483
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
08-24-23 1300ET
