Canola Tumbles Hard

Jan 13, 2022

Canola futures were sharply lower on Thursday in the heaviest trading session in a number of weeks. There was significant weakness in the old-crop months, with new-crop positions seeing more modest declines.

Oilseed markets in general were pressured by a much better forecast for South America, where much-needed rain, along with cool temperatures, is expected over the weekend. Additional pressure came from much smaller losses in Malaysian palm oil, while a step back in global crude oil prices weighed on edible oils.

The Canadian dollar was slightly higher at the noon hour, which put more pressure on canola.

March canola fell $29.90 to $984.80, May was down $20.50 at $971.30 and new-crop November lost $4.20 to $795.80.

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Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

Dr. Peter James Facchini leads research into the metabolic biochemistry in opium poppy at the University of Calgary. For more than 30 years, his work has contributed to the increased availability of benzylisoquinoline alkaloid biosynthetic genes to assist in the creation of morphine for pharmaceutical use. Dr. Facchini completed his B.Sc. and Ph.D. in Biological Sciences at the University of Toronto before completing Postdoctoral Fellowships in Biochemistry at the University of Kentucky in 1992 & Université de Montréal in 1995.