Mixed, with Declines in Old-Crop Months

Dec 23, 2021

Canola futures finished mixed on Wednesday with declines in the more heavily-traded old crop months.

The nearby March contract hit a new contract high of C$1,020.50/tonne earlier in the session, with support for the Canadian oilseed coming from strong upticks in the Chicago soy complex, Malaysian palm oil and European rapeseed, which saw new contract highs as well. Increases in global crude oil prices also lent support to edible oil values.

However, profit taking came forward to pull the market lower.

Tight supplies and the need to ration demand continued to underpin canola. However, there are ideas the market is now overvalued.

January canola fell $3.80 to $1,018.80, March was down $2.20 at $1,010.70 and May gained $1.10 to $977.70.

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Video: Evolution of Beef Cattle Farming

The Clear Conversations podcast took to the road for a special episode recorded in Nashville during CattleCon, bringing listeners straight into the heart of the cattle industry. Host Tracy Sellers welcomed rancher Steve Wooten of Beatty Canyon Ranch in Colorado for a wide-ranging discussion that blended family history and sustainability, particularly as it relates to the future of beef production.

Sustainability emerged as a central theme of the conversation, a word that Wooten acknowledges can mean very different things depending on who you ask. For him, sustainability starts with the soil. Healthy soil produces healthy grass, which supports efficient cattle capable of producing year after year with minimal external inputs. It’s an approach that equally considers vegetation, animal efficiency, and long-term profitability.

That philosophy aligned naturally with Wooten’s involvement in the U.S. Roundtable for Sustainable Beef, where he served as a representative for the Colorado Cattlemen’s Association. The roundtable brings together the entire beef supply chain—from producers to retailers—along with universities, NGOs, and allied industries. Its goal is not regulation, Wooten emphasized, but collaboration, shared learning, and continuous improvement.