Canola Reaches Fresh Contract Highs

Jun 29, 2021

Canola futures ended stronger on Tuesday, hitting fresh contract highs in the new-crop months as consistent concerns over hot and dry Prairie weather kept the bias to the upside.

Record high temperatures were being reported in Western Canada this week, with little precipitation in the immediate forecasts to alleviate the heat.

Statistics Canada released updated acreage estimates Tuesday morning, pegging canola plantings for the year at 22.5 million acres. That's up by about a million from earlier intentions and nearly two million above what was planted last year, but in line with trade expectations.

Weakness in the Canadian dollar and gains in Chicago Board of Trade soyoil added to the strength in canola.

July canola jumped $30 to $809.50, November was up $25.10 at $794.60 and January was $22.30 higher at $788.30.

Click here to see more...

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.