ICE Close: Canola Ends Lower after Choppy Day

Oct 14, 2022

Canola futures were weaker at Friday’s close, after trading to both sides of unchanged in choppy activity.

Losses in the Chicago soy complex accounted for some spillover selling pressure in the canola market, with solid farmer deliveries into the commercial pipeline another bearish influence. Just over 600,000 tonnes of canola were delivered into the commercial pipeline during the week ended Oct. 9, according to the latest Canadian Grain Commission report. Visible supplies increased to 1.43 million tonnes, from 1.24 million the previous week.

However, canola remains cheap compared to other oilseeds, with wide crush margins keeping end users on the buy side. Weakness in the Canadian dollar was also supportive.

November canola was down $8.10 at $862.30, January fell $8.60 to $869.10, and March lost $9.20 to $875.10.

Source : Syngenta.ca

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.