ICE Rapeseed Crush Margin Index Closing Data Released

(1) On Tuesday, the ICE Canola Crush Margin Index closing data was released. This index is developed by members of the Canadian Oilseed Processors Association. (2) Data shows that the November/December contract was at 298.13 Canadian dollars or 208.90 US dollars the previous day, compared to 297.74 Canadian dollars or 208.88 US dollars a week earlier. (3) The January contract was at 286.32 Canadian dollars or 200.63 US dollars the previous day, compared to 288.14 Canadian dollars or 202.15 US dollars a week earlier. (4) The March contract was at 278.90 Canadian dollars or 195.43 US dollars the previous day, compared to 282.98 Canadian dollars or 198.53 US dollars a week earlier. (5) The May contract was at 277.84 Canadian dollars or 194.69 US dollars the previous day, compared to 283.78 Canadian dollars or 199.09 US dollars a week earlier. (6) The July contract was at 283.46 Canadian dollars or 198.62 US dollars the previous day, compared to 288.15 Canadian dollars or 202.15 US dollars a week earlier. (7) The November/October contract was at 296.68 Canadian dollars or 207.89 US dollars the previous day, compared to 302.89 Canadian dollars or 212.50 US dollars a week earlier; the November/December contract was at 294.36 Canadian dollars or 206.27 US dollars the previous day, compared to 299.41 Canadian dollars or 210.05 US dollars a week earlier. (8) This index is calculated by subtracting the seed cost from the contributions of oil and meal, with oil accounting for 40% and meal for 60% per metric ton of crushed canola seed. The exchange uses the Bank of Canada’s noon rate for conversion and publishes prices in both Canadian dollars and US dollars. (9) The index is used to measure core processing margin trends at approximate industry output levels. Actual crush margins are also affected by plant yield, seed oil content, and the basis between oil/meal and seed.