Canola Fails to Hang onto Early Gains

Nov 30, 2021

Canola futures pulled back on Monday, after rallying to new contract highs during the overnight session.

Downward pressure came from the liquidation of the January contract as well as market concerns over the new Omicron strain of COVID-19. Losses in the Chicago soy complex and European rapeseed also weighed on values, while those for Malaysian palm oil were mixed.

The trade will get some clarity on this year’s crop production in Canada when Statistics Canada releases its next crop production report on Dec. 3. Expectations downward revisions in the production of canola and other major crops.

January canola dropped $11.50 to $1,027.40, March lost $5.80 to $998.10 and May closed down $4.30 at $959.20.

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Video: Evolution of Beef Cattle Farming

The Clear Conversations podcast took to the road for a special episode recorded in Nashville during CattleCon, bringing listeners straight into the heart of the cattle industry. Host Tracy Sellers welcomed rancher Steve Wooten of Beatty Canyon Ranch in Colorado for a wide-ranging discussion that blended family history and sustainability, particularly as it relates to the future of beef production.

Sustainability emerged as a central theme of the conversation, a word that Wooten acknowledges can mean very different things depending on who you ask. For him, sustainability starts with the soil. Healthy soil produces healthy grass, which supports efficient cattle capable of producing year after year with minimal external inputs. It’s an approach that equally considers vegetation, animal efficiency, and long-term profitability.

That philosophy aligned naturally with Wooten’s involvement in the U.S. Roundtable for Sustainable Beef, where he served as a representative for the Colorado Cattlemen’s Association. The roundtable brings together the entire beef supply chain—from producers to retailers—along with universities, NGOs, and allied industries. Its goal is not regulation, Wooten emphasized, but collaboration, shared learning, and continuous improvement.