ICE weekly outlook: Trader sees canola topping $900 mark soon

Nov 10, 2022

Despite surpassing the $900 per tonne mark at times during the week ended Wednesday, ICE Futures’ January canola contract never settled above that psychological level.

Rising prices prior to the weekend later gave away to selling pressure after the weekend due to a correction in vegetable oil prices, according to broker Ken Ball of PI Financial in Winnipeg. But despite falling as much as $30 per tonne, canola still showed relative strength.

“The product side fell off about $40. That again is canola showing…it’s undervalued and it shouldn’t go down as easily as when the markets go down,” Ball said. “(Canola) should see some upside potential as long as vegetable oil prices stay reasonably steady.”

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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.