Canola Shortfall Continues To Impact Prices

Nov 30, 2021

Canola prices continue to hover around $1,000 per tonne.

Brian Voth, president of IntelliFARM Inc., commented on the reasoning behind the high prices.

"I think the biggest driver is just the lack of production in Canada, coupled with a lot of buying from China in the past six to eight months, which has really led to these diminished balance sheets on canola and a multitude of other commodities. That has continued to fuel canola prices," he said. "We went into this year with relatively low overall stocks, with a production that's sixty per cent or whatever the number's going to be of normal. Obviously, we'll get those numbers out here at the end of the week from Stats Canada on our final production estimate but it's going to be a fraction of a normal canola crop. That has kept prices up at these elevated levels and continuing to move higher because we don't have enough canola to satisfy the historical export demand along with domestic crush."

Voth doesn't see canola falling apart, barring some collapse in all of the other grains and oilseeds.

He also doesn't expect canola to gain acres in 2022, considering the dryness that remains across Saskatchewan and Alberta.

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Video: Learning to Wrench From Dad the Hard Way

Harvest is a week out and the farm picked this week to fall apart. The truck needs a battery, the barn curtain's got a problem, and the corn and beans are telling us we're out of time to get it all fixed.

So it's a full day of wrenching. Tork supervises while I get the truck back running, then we're out at the hog barn where one rusted up part has the whole curtain system hung up. Ladder work, cable work, and a little dad-and-son disagreement about the right way to do it. We close it out walking the fields, shelling beans and checking corn, because whether everything's fixed or not, harvest starts when harvest starts.

Chapters: 00:00 Everything breaks the week before harvest 01:00 Tork supervises while I fix the truck 12:30 Out to the barn to find the curtain problem 14:30 One rusty part hung up the whole curtain 20:00 Running the curtain cable from the ladder 24:00 Walking the beans and corn before harvest 26:30 Wrapping up

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