Growing Canola

Marketing Your Canola

Get the Most From Your Canola Crop

For specific pricing and delivery information about delivering and selling your canola seed please call:

Jake Maister
(952) 460-7461
jake.maister@viterra.com

Canola is part of the fats and oils complex of crops. As the only oilseed adapted to western growing conditions, canola gives growers the opportunity to market a commodity that moves somewhat independent of wheat, barley and legumes.

As incomes rise in the developing world, fats and oils consumption, along with meat and dairy, are gaining an increasing share of the diet. Canola oil and meal are perfectly positioned to satisfy this shift toward western-style food consumption. Below, you’ll find basics of how to market canola.

Canola Marketing 101

  • Canola trades on the Intercontinental Exchange (ICE) in Winnipeg. The futures contracts are 20 metric tonnes each and are traded in Canadian dollars. Contract months are January, March, May, July and November. You can get quotes from the Viterra’s secure customer website myViterra, or the mobile-friendly version, myViterra Mobile.
  • Futures + Basis = Cash Price. All canola crushers in North America use the ICE Canola Futures to determine the daily price they will pay for canola. Each company establishes a basis in Canadian dollars, either positive or negative, to establish a daily delivered price of canola to their plant. The basis may change daily.
  • Viterra publishes indications of a daily bid for canola, consisting of both futures and a basis. If you would like to have a daily email of prices sent to you, please send a request to Lee Steinhauer or Jake Maister via the contact listed above. Prices are also available through myViterra or myViterra Mobile.
  • Depending on market conditions, there may be significant carrying charges in the market. When merchandising your canola, request bids for deferred sale to determine if it is more profitable to sell today or for future delivery.

For more detailed information on canola marketing, refer to our canola resources. You can also contact Lee Steinhauer or Jake Maister if you have questions.