Canola Hits Fresh Highs Again

Sep 18, 2020

Canola futures closed higher again on Thursday, hitting fresh contract highs as bullish technical signals and gains in Chicago Board of Trade soybeans kept fund traders on the buy side.

A lack of significant selling pressure on the other side, with farmers busy with the harvest and other participants content to keep to the sidelines as prices climb higher, added to the firm tone. Gains in Chicago Board of Trade soybeans and Malaysian palm oil provided additional spillover support for canola, although soyoil held near unchanged.

Seasonal harvest pressure and ideas canola was looking overbought kept canola off its highs for the session.

November canola was up $1.70 at $531.90, January was $2 higher at $538.90 and March gained $1.60 to $544.80.

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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.