Canola Falls Back

Dec 24, 2020

Profit taking and liquidation of the soon-to-expire January contract sent canola futures lower on Wednesday.

With the holidays fast approaching, traders decided to take some money off the table with the market rallying its highest since 2013. Markets will close early at noon Central Time on Thursday for Christmas Eve and will reopen again on Dec. 29. Strength in the Canadian dollar added to the pressure on canola.

A trader noted that the cash market remains strong with canola at C$14/bu at several locations across the Prairies.

Statistics Canada today reported the November canola crush at 917,992 tonnes, down from 931,060 tonnes in October. The federal agency also reported total grain deliveries in November of nearly 5.19 million tonnes, of which about 1.87 million tonnes was canola.

January tumbled $14.80 to $623.90, March was down $7.30 at $620.80 and May lost $2.40 to $610.10.

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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.