Tight Supplies, Dry Prairies Support

Oct 20, 2021

Canola futures were strongly stronger on Tuesday due to ongoing concerns about tight supplies and dry conditions across the Prairies.

The rolling out of the November contract into January was a major feature in today’s trading, with one trader saying that crushers and other buyers are worried about the small amount of canola available on the market and are buying as much as they can. Additional support came from increases in European rapeseed and the Chicago soy complex, as well as continued dry conditions across drought-plagued Western Canada ahead of the winter.

Some pressure came from slightly lower Malaysian palm oil values.

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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.