Canola seed is a low-erucic-acid, low-glucosinolate class within the rapeseed family, but canola and other rapeseed are not interchangeable trade identities. A comparable lot needs its class and variety, crop year, grade, oil and moisture basis, damage and admixture limits, origin, quantity, currency, Incoterm and delivery window.
This release uses the current Canadian Grain Commission grading guide, the ICE canola contract rules and USDA rapeseed data. Contract and grade figures are reference definitions, not a live cash quote or a delivered physical price.
The Canadian Grain Commission describes canola and rapeseed as classes in the same botanical family, while reserving canola for varieties meeting low-erucic-acid and low-glucosinolate standards. They can be visually similar but have different end uses and grain codes. Atlas preserves the stated class, registered variety and intended use instead of treating every rapeseed-family lot as canola.
Canada No. 1 canola grade factors include soundness, registered variety, commercial purity, distinctly green seed, heated seed, total damage, ergot, sclerotinia, stones and admixture tolerances. A physical contract can also add oil content, moisture, dockage, GMO or identity-preserved status, pesticide-residue and phytosanitary requirements tied to representative sampling and named test methods.
ICE rule 12.01 defines a 20-metric-tonne canola futures contract quoted per metric tonne. A physical offer still needs the exact class, variety and grade, crop year, oil and moisture basis, origin, quantity, currency, Incoterm, load point or destination, delivery window, inspection evidence, basis and logistics before a delivered value can be compared.
No. They belong to the same botanical family, but canola is reserved for varieties meeting specified low-erucic-acid and low-glucosinolate standards; contracts and inspection records should state the correct class.
ICE rule 12.01 specifies 20 metric tonnes of canola at par.
The Canadian Grain Commission table lists 2% maximum distinctly green seed and 0.1% maximum heated seed, alongside other soundness, damage and admixture tolerances.
No. It is a reference-market contract. A delivered physical value additionally needs class and grade, crop year, quality basis, origin, quantity, currency, Incoterm, destination, logistics, delivery timing and evidence vintage.
Figures retain their source, period and review date. Corroboration is not promoted to primary evidence.