Canola Pulls Back for Second Day

Apr 29, 2021

Canola futures ended lower on Wednesday, following a volatile session that saw wide swings up and down for some of the active months.

A trader noted there was rolling out of the May canola contracts, as well as those for Chicago corn and the soy complex.

Tight old-crop canola supplies remained a supportive influence for the market, with the likelihood of the problem continuing into 2021-22 marketing year. A Statistics Canada acreage report on Tuesday showed intended canola area increasing 3.6% this year to 21.5 million acres, but that is not expected to be enough to rebuild supplies.

However, soybean futures were lower again today, easing on improving weather in the US Midwest for planting and early crop development, and helping to weigh on canola.

May canola fell $6.90 to $895, July dropped $3.70 to $833.40 and November was down $6.70 at $687.20.

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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.