ICE Close: Canola Strengthens into Weekend

Jun 02, 2023

The canola market was stronger on Friday, seeing a continuation of Thursday’s corrective bounce off contract lows to end the week as traders squared positions amid ideas recent losses were overdone.

Gains in outside markets provided spillover support, with Chicago soyoil, European rapeseed and Malaysian palm oil futures all higher. However, relatively favourable Prairie crop weather kept a lid on the upside with timely rains in the forecast for some dry areas of Western Canada.

July canola gained $6.50 to $658, November was up $3.90 to $637.60, and January added $4.10 to $643.30.

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Video: Supplemental Nitrogen on Soybeans: Can Early Nitrogen Increase Yield?

Can supplemental nitrogen help soybeans reach higher yield potential? Technical Agronomist Tim Sickman walks through an ongoing trial at the Nutrien Innovation Farm in Owensboro, Kentucky, exploring whether a modest amount of nitrogen applied at planting can support higher-yielding soybean environments.

The trial compares 30 pounds of supplemental nitrogen across both 15- and 30-inch rows, along with treatments that include sulfur and micronutrients. Similar trials conducted in 2024 and 2025 delivered a six- to seven-bushel yield response, prompting the team to expand the research this season.

Early observations show that treated soybeans are slightly taller and averaging about two additional nodes on the main stem. These added nodes could create more opportunities for blooms and pods, but the true results will come at harvest when the team evaluates pod development, seed fill and final yield.

In This Video:

Why high-yield soybeans may need supplemental nitrogen

Results from the 2024 and 2025 trials

Nitrogen treatments in 15- and 30-inch rows

Fertilizer placement and application methods

Differences in plant height and node counts

Potential effects on pod development and yield