It's tough to predict this thing as is a total weather market. We will have lots of canary to supply the market, just how tight of hands it gets in. Negative is the truly the lackluster demand that we have seen last few years. No hype. No traders at destination following this market up. They are sitting.
Saying that i have traded 10 cents canary in my career. And i have traded 40 cent canary. I have 1300 acres of my own seeded at Lancer and it was seeded early May. I don't have a clue what it will yield. But i think it is better then 20 bu/ac which is likely the magic number for this market.
On another note, most buyers of canary in Mexico loaded up last summer at 25 cents Canadian grower price and forward bought about half of their yearly demand and market has gone down ever since. They have lost money on the entire 2016/17 crop year. Likely made it back in eston lentils though. That's the kind of market they are in, lose on some business gain on others.
Saying that i have traded 10 cents canary in my career. And i have traded 40 cent canary. I have 1300 acres of my own seeded at Lancer and it was seeded early May. I don't have a clue what it will yield. But i think it is better then 20 bu/ac which is likely the magic number for this market.
On another note, most buyers of canary in Mexico loaded up last summer at 25 cents Canadian grower price and forward bought about half of their yearly demand and market has gone down ever since. They have lost money on the entire 2016/17 crop year. Likely made it back in eston lentils though. That's the kind of market they are in, lose on some business gain on others.
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