Canola Swings Higher with Veg Oils

Jul 12, 2022

Canola futures were higher on Monday, getting spillover support from gains in other vegetable oils.

Strength in the Chicago soy complex, along with more moderate gains in European rapeseed and in the off session for Malaysian palm oil combined to support the Canadian oilseed. Global crude oil prices were narrowly mixed, providing little direction to veg oils.

There is the chance of rain across the Prairies this week, with rising temperatures expected to spark thunderstorms.

November canola was up $11.60 at $866.70, January was $11.10 higher at $873.30, and March gained $10.60 to $879.90.

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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.