The 2012 canola crop is not just smaller than expected, it’s also light on oil content. According to the Canadian Grain Commission, this year’s crop is averaging a mean oil content of 43.5% (on a 8.5% moisture basis, No. 1 grade). That’s down quite a bit from last year when it was 45.2%. The 10-year mean is 43.8%. Earlier, I asked if there was enough total canola to go around; lower oil content of existing bushels pinches crush supply even more. Lower than average oil content is not a surprise. As Murray Hartman, oilseed specialist with Alberta Agriculture, explains, oil…
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