sell canola or wait longer???

**Koldkanuck** · Oct 26, 2010, 19:57

Just locked in some of this years canola for $12.36 April delivery LDM Yorkton. My luck, it will go up?? Hard call. You have to figure whats good for your farm, etc.

**gustgd** · Oct 26, 2010, 20:53

Cargill $10.73 Oct.
And only 3 miles further

**gustgd** · Oct 26, 2010, 20:55

My Bad I was looking at 2011

**furrowtickler** · Oct 26, 2010, 23:01

Nothin wrong with any of those numbers. The question is where does it go from here?

**Jay-mo** · Oct 27, 2010, 07:49

It's never a bad thing to price incrementally into a rising market.
A friend of mine mentioned yesterday that Ag-chieve is saying the next resistance level is $60-$70 higher.

**Wheatking** · Oct 27, 2010, 09:16

F**** Ag-Chieve . For the last 6 months he has been saying sell sell sell. It is going lower it always does, all through the rising market sell sell sell, the price is going to go lower lower lower. Now just in the last two weeks he says sell if you need to know but it is going higher, you are a little late in coming to the party. He has a very short memory and will not acknowledge mistakes in the past. Just from his track record in the last six months if he says it is going up I would think now would be a good time to sell.

**furrowtickler** · Oct 27, 2010, 09:47

Sounds excatly like the cargil advice in the canola market. Maybe time to pull the pin on some more canola.

**Jay-mo** · Oct 28, 2010, 09:06

I hear ya Wheatking. Agchieve also told my friend he should be 50% sold on old crop but the price is going up.....lol

I have seriously considered using Ag-chieve because I think they are one of the better services out there but they're still just taking educated guess's from past market moves and applying it to the unknown.

**ado089** · Oct 28, 2010, 09:15

With a 25% run in canola through late summer and harvest why would anything change until there are signals from the southern hemnisphere. Canola has been doing it's own thing compared to other comodities and is even resisting negative currency movements. The put/call ratio is almost 50/50 and close in price, that tells me that the smart money is either confused or that they don't expect the markets to move much before MAR. With that said I beleive there will be local demmand issues that will pull the basis in.

sell canola or wait longer???