A buddy called today and said cargil phoned to say they were sending out trucks todasy to pick up canola. Never ever signed a contract for sfa, but this is what they told him - He had a $9.35 contract that hit today?? Canola has not been below $10.00 for a month right? HTF did this just happen today? Desperate times, desperate measures, IMO. He was not the only one , I know of four others that got this call and all are completely bewildered - not one ever even talked to them in months? Anyone else out there here this b/s? I, personaly have nothing agaist cargil but some very off the stunts this last week.
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And I still have July delivery month basis contract not picked up yet. I don't think they want to talk to me. -
Crush margines have increased roughly $20.00/t over the last week for all months out to July2011, there's money to be made!
http://news.tradingcharts.com/futures/7/1/145857017.htmlComment
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If you had contract targets, you better read the expire
date or make sure you even had a an expiry date put
on. Otherwise your target could get pulled any time
under their descretion, they are meeting your target.Comment
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I agree red, but the canola price has been above 10 for a long time , how could a 930 just hit? I could see a 10.30. My buddy called them on it, said he never signed anything and asked for proof - he has heard nothing since.Comment
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I didn't here anything like that but if a farmer signed one of those stupid target masters I think hes screwed. Those are the stupidest things ever. Who ever. Pick a target. Yea good one.
What we had this week is all three of the grain company reps with their supervisors from Regina out to see how the crop is looking and how far your advanced with harvest tour. Or as I call it.
Will we be working this winter or lay-ed off tour!!!!!!!!!!!!!
They didn't look to happy any of them.
HM maybe I'm high with yield expectations.Comment
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SF3
Did you ask them if they could fill the next train?Comment
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NO dang I knew there wa4 something I forgot!!Comment
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They're running another scam too...Bring us your tough canola and you have 60 days to deliver dry canola to average moisture on paper. Translation - Let's get this relatively cheap grain in before the markets realize the crop is crap and the price goes up.Comment
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When do you have to sell the delivered canola?Comment
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