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Canadian Canola Crush Sets New Monthly Record

Canadian oilseed processors set a new monthly record in October, crushing 882,301 tonnes of canola during the reporting period, according to the latest data from Statistics Canada.
 
The October crush was up by 114,000 tonnes from the previous month and compares with the 786,770 tonnes rushed during the same month last year. The previous single month record of 870,998 tonnes was set in October 2017.
 
A total of 2.480 million tonnes of canola was crushed during the first three months of the 2019-20 marketing year, putting the crush pace at about 250,000 tonnes ahead of the previous year.
 
Crush margins remain historically wide at roughly C$100/tonne above the nearby futures, according to the latest ICE Futures data. The profit margins are roughly double the levels seen at the same time in 2018.
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