By Angie Rolheiser

Agriculture Roundup for Friday December 4, 2020

Dec 4, 2020 | 10:52 AM

MELFORT, Sask – The President of the Canola Council of Canada is concerned about future government funding levels for canola research.

Jim Everson said federal research spending has been stagnant the last couple of years.

He said as the government struggles with the additional stress of the pandemic there is a risk of further declines.

“That is why we have to keep emphasizing to the Canadian government that it is an essential research partner and that there is a lot at stake for canola industry and for all Canadians,” Everson said. “Canola is a powerful driver of our economy and will play a key role in Canada’s economic recovery.”

Everson spoke about the topic during this week’s Canola Discovery Forum which was held online.

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Statistics Canada estimates canola production at 18.7 million metric tonnes which is down 4.5 per cent from last year and below trade expectations.

Ken Ball is a senior commodities futures advisor with PI Financial in Winnipeg.

“The absolute price will have to stay very strong because some buyers buy on a basis of margin and some buy on a basis of price alone,” Ball said. “Canola is already quite high so it is probably discouraging for some buying already.”

This will mean having to stretch out canola supplies until the 2021 crop comes off next fall.

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angie.rolheiser@jpbg.ca

On Twitter: @Angie_Rolheiser