Canola Crashing and Burning,

[SASKFARMER3]

All news out today is canola has to drop in value etc etc etc. Below 7 is reality its priced to high on and on and on the BS just keeps going. Yes the soy from south American is going to enter market soon but its raining and raining and raining in Brazil. Disease boys disease. Argentina is dry oh doesn't that equal crop loss. And is their any one who actually believes the USDA on their numbers come on. Then Add Heating in Canadian Canola and What over load. Our sales are on par with last year hm and no China. Our dollar dropped so were cheaper, and Crushers are making money. Hm 8 is magic 7 is BS. Also again some one explain to me why we need the 16 million ton crop by 2012. Every time we grow one prices drop. Whats behind the Magic huge crop, or is it just for profit for Viagra and Cargills and seed companies etc.

[fjlip]

Correct, the more everyone else in the industry handles the more they make...16 million, 20 million! Their income has NOTHING to do with the price of the commodity. Best scenario we grow less than 10 for more than $10/bu.

[johndeere1]

I'm new to this site and i hope your right on the canola price. I have to sell it by the end of Feb so I hope the price goes up. I also don't understand the push on having a huge crop if it is going to bring the $/bushel down. Doesn't make sense

[wd9]

Because the industry needs to be of a certain size to attract business and be taken seriously. Example, for a company to change a product label that says uses canola oil the supply better be there. 15 mmt is that point. At around 1 percent of the of the veg oil complex, canola is not the price setter and no one really cares if it disappears except us.

Its like farm size today, you can't do it on 80 acres and canola is like the 80 acre farm hoping to expand to at least a quarter. Simple enough explanation?

[tmyrfield]

almost everyone has to sell canola by Viterras Feb 25th payment date also FCC Feb 15th date. not a snowball's chance in h*ll that canola is going to go up in price by the end of feb. sorry it's the only product that we can move that is worth anything and the grain companies have us by the short and curlies

[Hopperbin]

Jess Crast were business people here, if we know we have to sell by a certain time them market that grain before then. Who TF fault is it if you cannot make a payment because of grain in the bin.

[Muskeg4dirt]

Just got back from farm teq- Oil World writer spoke about Canola being UNDER PRICED due to Oil driven crush! Watch soyoil, palm oil etc, look at sunflower oil (production way down).Also Chinese up to thier dirty little tricks to lower prices; BTW very successful; but they will be back eventually. Message is no runaway bull but by mar-may should see some rally potential.

[gregpet]

Has Mielke ever been bearish on any veg oil?