Big gains in Chicago soybean futures helped to lift canola futures on Tuesday.
Soybean futures shot sharply higher on Argentina weather problems on Tuesday, while spring wheat futures suffered heavy losses.
Western Canadian farmers weren't the only ones trying to cash in on strong lentil prices this past year.
It may be a small producer compared to Canada, but a decline in U.S. flax production in 2016 could eventually help support prices on this side of the border.
The weaker loonie should help keep most Canadian producers in the black, but commodity prices are likely to remain under pressure for much of 2017, according to Farm Credit Canada.
Canola futures settled higher in thin trading on Monday, taking strength from gains in vegetable oil and technical trading.
With planted area already down sharply from a year earlier, U.S. winter wheat production in 2017 will now heavily depend on the weather.
The bulk of the crop still remains far from the bin, but Thursday's USDA supply-demand update certainly confirmed the heavy soybean supplies on tap in South America.
Dry beans will likely hold their ground in Manitoba in 2017, even amid the growing popularity of soybeans, according to the province's pulse specialist.
The Canadian Grain Commission (CGC) wants to take a closer look at just how well canola quality manages to hold up over the winter - a key question given how much of the 2016 crop still remains out in the field.