MarketsFarm — Domestic canola demand remained well ahead of exports in the latest Canadian Grain Commission report for the week ended Sunday — but revisions to data now show the crush pace is not quite as active as reported earlier in the month.
The original data for the week ended Jan. 5 showed domestic disappearance of 4.8 million tonnes of canola during the 2019-20 crop year-to-date — about a million tonnes above the year-ago level and compared with the 3.7 million tonnes of canola exported during the same timeframe.
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As processing usually makes up the majority of the ‘domestic disappearance’ line, industry participants questioned whether or not the crush pace was really that far ahead on the year.
The CGC later confirmed reporting errors skewed the data, and provided revisions in its report released Thursday.
With the revisions, total domestic disappearance as of week 23 of the crop year now comes in at 4.7 million tonnes — which would still be 700,000 tonnes ahead of the previous year’s pace.
Exports to date of four million tonnes compare with the year-ago level of 4.4 million.
— Phil Franz-Warkentin reports for MarketsFarm, a Glacier FarmMedia division specializing in grain and commodity market analysis and reporting.
