Canola prices continue to hover around $1,000 per tonne.

Brian Voth, president of IntelliFARM Inc., commented on the reasoning behind the high prices.

"I think the biggest driver is just the lack of production in Canada, coupled with a lot of buying from China in the past six to eight months, which has really led to these diminished balance sheets on canola and a multitude of other commodities. That has continued to fuel canola prices," he said. "We went into this year with relatively low overall stocks, with a production that's sixty per cent or whatever the number's going to be of normal. Obviously, we'll get those numbers out here at the end of the week from Stats Canada on our final production estimate but it's going to be a fraction of a normal canola crop. That has kept prices up at these elevated levels and continuing to move higher because we don't have enough canola to satisfy the historical export demand along with domestic crush."

Voth doesn't see canola falling apart, barring some collapse in all of the other grains and oilseeds.

He also doesn't expect canola to gain acres in 2022, considering the dryness that remains across Saskatchewan and Alberta.

More Ag News

Seed Summit Set For February

A Seed Summit will be held February 7,14, and 22 to discuss the future of the seed regulatory system in Canada. The Summit, initiated by Seeds Canada and presented in collaboration with partners…

Ian Boxall Elected Pres of APAS

The Agricultural Producers Association of Saskatchewan have a new President. Ian Boxall, the Representative for the RM of Connaught # 457 farms near Tisdale and takes over the role from Todd Lewis.…

Sask Pulse Makes Changes To Winter Pulse Meetings

The Saskatchewan Pulse Growers making the decision to move the first two Winter Pulse Meetings to a virtual event only. Organizers say that's based on new recommendations from the Saskatchewan Health…

Alberta Rancher Named Vice President Of GRSB

A cattle producer from Alberta has been named to the executive of the Global Roundtable for Sustainable Beef (GRSB). Bob Lowe, a Nanton area rancher and feedlot operator, will serve as…

Prairieland Park Agriculture Manager Set To Retire

The 38th Annual Western Canadian Crop Production Show marks the final event for Prairieland's Agriculture Manager Lori Cates. Cates is set to retire at the end of the month. "It has been my honour to…

DiscoverMooseJaw.com is Moose Jaw's only source for community news and information such as weather and classifieds.

Search the Biz Guide

Login