Old-Crop Canola Finishes Mixed

Dec 21, 2021

Canola futures were mixed on Monday in the heavily traded old-crop months, while there was a sharp decline in the sparsely traded new November contract.

Chicago soyoil came off of earlier lows, but still weighed on canola values, as did declines in Malaysian palm oil. European rapeseed finished mixed, with losses in its front months.

The December supply-demand update from Agriculture Canada featured revisions to exports and domestic use compared to last month but 2021-22 canola ending stocks were maintained at 500,000 tonnes. Tight canola supplies and the need to ration demand underpinned values.

January canola fell $1.10 to $1,013.20, March was down 50 cents at $1,002.20 and May gained $2.10 to $967.50.

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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.