Canola Settles Higher after Early Losses

Jan 21, 2022

Canola futures managed to settle with small gains on Friday, recovering from earlier losses late in the day.

Speculators were behind much of the activity throughout the session, adjusting their positions ahead of the weekend. Losses in Chicago Board of Trade soybeans put some spillover pressure on the Canadian oilseed. However, gains in soyoil provided some underlying support. Malaysian palm oil was also up overnight.

Weakness in the Canadian dollar was also supportive. While export demand is being rationed at current price levels, solid demand from domestic crushers contributed to the eventual gains.

March canola ended 30 cents higher at $1,022.30, May was up $3.70 at $1,009.10 and November gained $1.50 to $827.40.

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Video: Learning to Wrench From Dad the Hard Way

Harvest is a week out and the farm picked this week to fall apart. The truck needs a battery, the barn curtain's got a problem, and the corn and beans are telling us we're out of time to get it all fixed.

So it's a full day of wrenching. Tork supervises while I get the truck back running, then we're out at the hog barn where one rusted up part has the whole curtain system hung up. Ladder work, cable work, and a little dad-and-son disagreement about the right way to do it. We close it out walking the fields, shelling beans and checking corn, because whether everything's fixed or not, harvest starts when harvest starts.

Chapters: 00:00 Everything breaks the week before harvest 01:00 Tork supervises while I fix the truck 12:30 Out to the barn to find the curtain problem 14:30 One rusty part hung up the whole curtain 20:00 Running the curtain cable from the ladder 24:00 Walking the beans and corn before harvest 26:30 Wrapping up

We're a 6th generation family farm in southeast Iowa showing the real ups and downs of pig farming and row crop farming. No script, just the work. Subscribe and follow along.

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