Old-Crop Canola Holds Gains as Crude Falls Back

Dec 01, 2021

Canola futures saw increases in the old-crop months on Wednesday, while new crop positions closed slightly lower.

Support for edible oils from strong upticks in global crude oil prices evaporated by the close of the grain markets, which weakened edible oils.

Railcar unloads at the Port of Vancouver dropped 87% during Week 16 of the marketing year, according to Quorum Corp. The report took reflected the stoppage in rail traffic due to the heavy rain and flooding in southern British Columbia that severed ground links for a number of days.

Ahead of Friday’s Statistics Canada crop production report, trade expectations for canola production are 11.5 million to 13 million tonnes. In September, the federal agency pegged production at 12.78 million tonnes.

January canola was up $7.20 at $994.30, March was $7.30 higher at $967.30 and May gained $6 to $930.20.

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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.