Preheat oven to 425°F (220°C). Line a baking sheet with parchment paper and set aside.
In a small bowl, whisk together the milk and canola oil. Pour the wet ingredients into the dry, and stir until fully combined.
Scrape the dough onto the parchment lined baking sheet, and using wet hands, form into a disk about 3/4-inch (scant 2 cm) thick.
Bake in preheated oven for 20-22 minutes, or until the top is lightly browned.
Let the bannock cool for 5 minutes before slicing into 8 wedges.
Bannock is best served warm, but can be stored in an air-tight container at room temperature for up to 2 days.