More Gains Possible for Canola Futures

Jun 07, 2023

Canola futures have risen over the past week and the market may have more room to run higher amid production uncertainty, according to one analyst.

Jerry Klassen of Winnipeg-based Resilient Commodity Analysis said he expects the nearby July contract to go back up to $700/tonne in the coming weeks. The July contract closed Wednesday at $670.20.

“Maybe a bit up to $720, into that range,” Klassen said. “We’re not getting into a runaway bull market here, but if you see another $30 to $40 upside (on the July contract), that wouldn’t surprise me.”

Both the July and new-crop November canola contracts have rallied about $20 over the past week, gains that Klassen at least partially attributed to short covering.

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Video: Turning Better Feed Into Better Herds: Innovation in Forage Harvesting

What happens when a dairy farmer gets frustrated with equipment that isn’t doing its job? In this episode, we sit down with Horning Manufacturing founder Leon Horning to hear how a problem in the feed bunk led to a globally recognized forage equipment company.

Born out of a third-generation dairy operation in Pennsylvania, Horning Manufacturing started with one goal: helping cows get more nutrition from silage. Leon shares how his father, Leon Sr., built the first kernel processor rolls in the family farm shop after seeing whole corn kernels pass through cows undigested — costing valuable feed efficiency and milk production.

We explore the company’s journey from a side project on the farm to an international manufacturer serving dairy farmers, beef operators, and custom harvesters around the world. Along the way, Leon discusses the evolution of pull-type forage harvesters, the engineering behind Horning’s “plug-and-play” kernel processor kits, and why reducing downtime during harvest can make or break a season.

The conversation also dives into Horning’s row-independent corn heads, practical equipment design, real-world customer stories, and how innovations born in the field continue to shape the company today.

Whether you’re a producer, equipment enthusiast, or simply love stories of grassroots innovation, this episode offers a fascinating look at how one farm family turned necessity into industry-changing technology.

Contact Horning Manufacturing today at 717-354-5040
https://www.horningmfg.com/