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ICE Close: Canola Higher Despite Heaviest July 31 Stocks in Four Years

Canola futures started the week with solid gains, despite a Statistics Canada grain stocks report this morning showing ample supplies at the end of the 2023-24 crop year. 

The report pegged total nationwide canola stockpiles as of July 31, 2024 – ending stocks for the now concluded 2023-24 crop year – at 3.092 million tonnes, up almost 67% from the previous year’s 1.853 million and highest July 31 stocks since 2020. However, stocks were still no heavier than generally expected by the market. 

Strong domestic demand - which StatsCan reported as record high in 2023-24 at 11.5 million tonnes, up 8.1% on the year – has helped stabilize canola prices near their August low. 

November canola gained $14.40 to $583.60, and January was $14.90 higher at $595.80. 

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How American Farmers Harvest 1.15 Billion Pounds of Sunflowers

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Across the open plains of North Dakota and South Dakota, sunflower fields turn the American landscape into a sea of gold. In this farming documentary, we go inside modern sunflower farming to see how farmers plant, grow, harvest, clean, dry, process, and transform sunflower seeds into valuable products used every day.

In 2024, American farmers harvested about 1.15 billion pounds of sunflowers. This video follows the full journey from warm spring planting to combine harvesting, seed cleaning, storage, oil extraction, refining, roasting, packaging, and animal feed production.

You will see how sunflower seeds are processed into cooking oil, roasted snacks, bakery ingredients, birdseed, livestock feed, and useful byproducts. From golden fields to modern processing plants, this is the story of how a beautiful flower becomes one of America’s important oilseed crops.

Watch until the end to discover how sunflower farming connects farmers, machines, factories, food production, and sustainable agriculture.