Canola – Year-to-date canola disappearance into week 17 of the crop year is slightly above last year’s usage (+4%) and amounted to 5.8 million MT compared to 5.6 million MT last year.

Price pressure on ICE canola futures continues as farmer selling continues more than demand, even while vegetable oil prices are stronger.

The market opened today a little weaker for soybeans and canola followed soy oil lower. However, soybeans rallied and closed at $14.36 on the January.

Canola – Year-to-date canola disappearance into week 14 of the crop year is slightly below last year’s usage (-2%) and amounted to 4.37 million MT compared to 4.44 million MT last year.

Canola – Year-to-date canola disappearance into week 13 of the crop year caught up to last year’s usage and amounted to 3.96 million MT compared to 3.94 million MT last year.

Canola – YTD canola disappearance into week 12 of the crop year caught up to last year’s usage and amounted to 3.6 million MT compared to 3.6 million MT last year. Canola values are historically high but, in our view, gauged by product value they are still below current market values.

Canola – Year-to-date canola disappearance into week 11 of the crop year amounted to 3.1 million MT compared to 3.2 million MT last year.

Canola – YTD canola disappearance into week 10 of the crop year amounted to 2.4 million MT compared to 2.7 million MT last year.

Canola – Year-to-date canola disappearance into week 9 of the crop year amounted to 2 million MT compared to 2.3 million MT last year.

Canola – Year-to-date canola disappearance into week 8 of the crop year amounted to 1.55 million MT compared to 1.8 million MT last year.

Canola – Year-to-date canola disappearance into week 7 of the crop year amounted to 1.3 million MT compared to 1.5 million MT last year.

Canola – Year-to-date canola disappearance into week 6 of the crop year amounted to 1.1 million MT compared to 1.2 million MT last year.

Canola – Year-to-date canola disappearance into week 5 of the crop year amounted to 919 thousand MT compared to 1.1 million MT last year.

There were rumours of 1 MT of canola trading to China. We think some canola did trade but the maximum was 250,000 tonnes.

In week 3 canola growers delivered 123,100 tonnes of old crop canola meaning the canola carry-in was at least 1 MMT.

The 2021/22 canola crop was considerably larger than government estimates. The visible in week 52 was 567,000 tonnes and year-to-date deliveries of old crop are 280,000 tonnes and, therefore, the minimum carry-in is 847,000 tonnes.

Canola – Total canola disappearance during week one of the crop year amounted to 151 thousand MT compared to 309 thousand MT last year.

Canola – Total canola disappearance during the fifty-two weeks of the crop year amounted to 14.5 million MT compared to 21.3 million MT last YTD.

Canola – Total canola disappearance during the 51 weeks of the crop year amounted to 14.2 million MT compared to 20.9 million MT last YTD.

Canola – Total canola disappearance during the 50 weeks of the crop year amounted to 14 million MT compared to 20.5 million MT last year-to-date.