Bigger crops, fierce competition may lower canola prices

Apr 19, 2023

Canola futures prices may test the lower end of a new range in 2023-24, says an analyst.

MarketsFarm’s Mike Jubinville thinks the new floor for canola is around $700 per tonne, which it hit towards the end of March before rebounding.

He thinks that number could be in the cards again because of a few bearish factors.

The first is the size of the 2022-23 crop, which Statistics Canada pegged at 18.1 million tonnes.

The agency has increased production of the previous five crops by an average of 700,000 tonnes between its December estimate and the final tally.

Jubinville believes that will be the case again this year. He thinks the actual size is closer to 18.6 million tonnes.

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Video: Democratizing Gene Editing - Pairwise’s Vision for the Future of Agriculture

Pairwise has built its business around an idea that runs counter to how many companies approach innovation: make transformative technology easier to access.

In this Seed World interview, CEO Tom Adams discusses why broader access to gene editing could speed crop improvement, expand innovation opportunities and help agriculture address emerging challenges. He explains why Pairwise believes no single company can solve all of agriculture's problems alone—and why making advanced breeding technologies available to more organizations could accelerate progress across the industry.

The conversation explores how consumer trust influences technology adoption, why innovations like pitless cherries and seedless blackberries matter beyond convenience, and how future crop improvements could help address labor shortages, automation, harvest efficiency and other production challenges. Adams also shares his perspective on what the industry may be underestimating about the next wave of gene editing innovation.

Watch the full interview to hear why Pairwise believes agriculture is approaching an important inflection point for gene editing, and why the pace of innovation over the next decade could surprise the industry.

Topics Covered:

o Democratizing agricultural innovation

o Consumer trust and technology adoption

o The business case for sharing innovation

o Expanding innovation beyond major crops

o Next-generation breeding technologies