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ICE Canadian Canola Board Margin Index Close

WINNIPEG, November 9 (CNS), Nov 09, 2017 (Commodity News Service Canada, Inc. via COMTEX) --

The Canadian Canola Board Margin Index, as posted by ICE Futures Canada, is a formula developed by the members of the Canadian Oilseed Processors Association (COPA).

            Today         Day Ago      Week Ago     Month Ago     Year Ago
            Nov 09/17     Nov 08/17    Nov 02/17    Oct 06/17     Nov 09/16
            Cdn$   US$    Cdn$   US$   Cdn$  US$    Cdn$ US$      Cdn$    US$
Nov/Oct17   N/A   N/A     N/A   N/A    N/A   N/A    61.36 48.90  N/A    N/A
Nov/Dec17   76.60 60.35   77.75 61.08  77.64 60.55  66.63 53.09  110.68 82.55
Jan18       77.10 60.75   78.43 61.62  78.22 61.00  64.48 51.38  108.22 80.71
Mar18       74.80 58.94   76.01 59.72  76.89 59.97  63.87 50.89  105.35 78.58
May18       74.61 58.79   75.40 59.23  77.41 60.37  65.68 52.34  104.80 78.16
Jul18       76.41 60.21   76.30 59.94  79.43 61.95  68.38 54.49  107.91 80.48
Nov/Oct18   99.50 78.39  100.41 78.88 102.44 79.89  87.97 70.10  121.13 90.34>TE
      The Canola Board Crush Margin is comprised of an oil and meal contribution and a seed
cost. It is calculated by subtracting the ICE canola futures price from the sum of the weighted
value of the per tonne Chicago Board of Trade futures price for soybean oil and soybean meal.
The calculation is based on a 40% oil contribution and 60% meal contribution per tonne of
canola seed crushed. The margin calculation is currency adjusted using the Bank of Canada
noon rate and is published in both Canadian and US dollars.
     The margin calculation is a measure of the trend in core processing returns at
approximate industry yields. Actual canola crushing margins are affected by numerous factors
including individual processing plant yields, actual oil content of the seed, and the pricing
basis for oil, meal and seed.
In the above calculation:
Canola Board Crush Margin (Can $/tonne) = (BO * 22.0462 * Noon Rate * 0.40)
                                        (SM * 1.1023 * Noon Rate * 0.60 * 0.75)
                                      - ICE Canola seed futures
     BO = CBOT soybean oil futures settlement price in US dollars per hundredweight (or cents
per pound), 22.0462 converts soybean oil to US dollars per metric tonne, and 0.40 reflects
a 40% oil contribution.
     SM = CBOT soybean meal futures settlement price in US dollars per short ton, 1.1023
converts soybean meal to US dollars per metric tonne, 0.60 reflects a 60% meal contribution,
and 0.75 is a price adjustment factor to account for canola meal containing approximately
75% of the protein in soybean meal.

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