Audio Script:

Hi, I’m Jess Kirkpatrick. Grain Merchant with CHS Broadbent.

And here is your global canola supply wrap.

Last week we saw the USDA report increase their canola production by 2.25 million tonnes.

This is a massive 82.5 million tonnes of global forecasted production this year.

This is going to be an increase of 10.2 million tonnes on last year’s production.

If we look at a more local level, the Australian Oilseeds Federation has released a forecast of 5.5 million tonnes this year. 

This aligns with the announcement from the Bureau of Meteorology that we will be seeing La Niña for the third year in a row.

So, there is the potential we will see good seasonal conditions and therefore a potential increase on this forecast.

Other countries globally we’re seeing Russia produce around 4 million tonne, Canada 20 million tonnes and Europe 18 million tonnes.

Although there is good supply globally, we’re still seeing good demand for Aussie canola and expecting a good export program next year.

Now that we’re heading into spring, it’s a good time for you to check your forward contracting position.  

And also, test your appetite for starting, or continuing your forward sales program.

Today’s prices are listed here.

Our team at CHS Broadbent is more than happy to discuss markets and contracting opportunities with our growers.

So, please give us a call to discuss how we can work with you.

I hope the crop is looking great at your place.