What it is
A kind of rapeseed bred in Canada to be fit for food. The seed is crushed into a cooking oil and a protein meal for animal feed, and the oil is also used to make biodiesel.
How it is usually quoted
Canadian dollars per tonne.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
ICE.
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- Weather on the Canadian Prairies
- The price of soybean oil and palm oil, which it competes with
- Demand for vegetable oil as a feedstock for biofuel
- Export demand and the trade policy of importing countries
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
Canada, chiefly Saskatchewan, Alberta and Manitoba, and Australia. The same crop grown in Europe is called rapeseed.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Canola is not offered as a GIO4X instrument. This page is general education about a market that exists elsewhere, and nothing on it means that GIO4X quotes, trades or gives access to it.
The commodities GIO4X does list are Brent crude, gold, natural gas, palladium, platinum, silver and WTI crude.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.