Canola is the name given to a very healthy oil that was developed from rapeseed. But it is not rapeseed oil and has vastly different fatty acid and other properties than rapeseed oil. Canola was developed using traditional plant breeding methods to remove undesirable qualities in rapeseed -- it is not a biologically modified product. In terms of their properties, canola oil is as different from rapeseed oil as olive oil is as different from corn oil.
Canola's popularity in recent years is due to increased interest in and awareness of healthy food options. A great deal of research has been done which shows the benefits of incorporating canola oil into human diets. The low level of saturates, high level of monounsaturates, and intermediate levels of both essential fatty acids give canola oil a very attractive fatty acid profile. When used as part of a balanced diet, canola oil has been shown to lower blood cholesterol levels and have a beneficial effect on clot formation, thereby decreasing the risk of heart disease and stroke. Canola oil contains just 7% saturated fat compared to, for example, 15% for olive oil, 19% from peanut oil and 12% for sunflower oil. Canola production is not subsidized by the Canadian government.

Winnipeg Commodity Exchange (WCE) provides the world's premier price discovery and risk management tool for Canola (also known as Rapeseed), which is the most actively traded commodity on WCE and has been trading since 1963; options on Canola futures have been available since 1991. Over the past five crop years, total annual volume in the Canola futures contract has averaged almost 2 million contracts. On Monday, December 20, 2004, the Winnipeg Commodity Exchange became the first commodity exchange in North America to go 100% electronic, thus eliminating their open-outcry trading pits for Canola.

Available Trading Months: Primary trading months for Canola Futures and Options are January, March, May, July, September, and November