Canola Futures Waiting on Fresh News

Sep 24, 2021

Canola futures have been holding rangebound over the past week, looking for some direction.

"None of these markets are flashing any strong signals that there's much going on. . . they're waiting for fresh news and there isn't much around right now," said Ken Ball of PI Financial in Winnipeg.

While uncertainty over the size of this year's drought-stricken Canadian canola crop remains supportive, Ball noted that canola is very expensive compared to other oilseeds and the market has done its job of rationing demand. Exports are already down substantially on the year, although they should pick up somewhat as more new-crop supplies become available.

Looking forward, canola prices "will have to be expensive, but expensive is a relative word," Ball said, adding the direction of the canola market will depend on what happens in Chicago soyoil. If soyoil prices fall, canola could also break lower but still be high priced compared to the product values, he said.

Beyond the North American harvest, the next big market factor on the horizon is Brazil, according to Ball. Farmers there are just starting to seed the 2021-22 soybean crop, with any weather issues likely to provide support while improving conditions would be bearish.

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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.