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ICE Close: Canola Adds to Previous Day’s Gains

Canola futures closed higher for the second straight day on Wednesday, adding to the gains from the previous day. 

The canola market was closed on Monday to mark Remembrance Day when the Chicago soy complex shot higher on Brazilian weather problems. Soybeans and soymeal were lower today, although soyoil managed gains.  

After posting heavy losses in September and October, the canola market is recovering alongside other vegetable oils, including palm and soy. 

January canola was up $5.60 at $719.50, March was $4.80 higher at $725.10, and May gained $5.10 to $728.50. 

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Why Invest in Canada’s Seed Future? | On The Brink: Episode 3

Video: Why Invest in Canada’s Seed Future? | On The Brink: Episode 3

Darcy Unger just invested millions to build a brand-new seed plant on his farm in Stonewall, Manitoba so when it’s time for his sons to take over, they have the tools they need to succeed.

Right now, 95% of the genetics they’ll be growing come from Canadian plant breeders.

That number matters.

When fusarium hit Western Canada in the late 90s, it was Canadian breeders who responded, because they understood Canadian conditions. That ability to react quickly to what’s happening on Canadian farms is exactly what’s at risk when breeding programs lose funding.

For farmers like Darcy, who have made generational investments based on the assumption that better genetics will keep coming, the stakes are direct and personal.

We’re on the brink of decisions that will shape our agricultural future for not only our generation, but also the ones to come.

What direction will we choose?

On The Brink is a year-long video series traveling across Canada to meet the researchers, breeders, farmers, seed companies, and policymakers shaping the future of Canadian plant breeding. Each week, a new story. Each story, a piece of the bigger picture.

Episode 3 is above. Follow Seed World Canada to catch every episode, and tell us: Do you think the next generation will have the tools they need to success when they takeover? How is the future going to look?