How much higher can canola and soys go?

[buzz]

I have been watching the market news and I am wondering how much higher canola futures can go?

[fjlip]

If you sell they will probably go up, worked for me.

[Daylate]

let us know when you sell some more. LOL

[SASKFARMER3]

I dont think much more till end of march and into april then maybe skys the limit.
Were 0 sold on 2010 crop but all of the 2009 is now gone.

[boarderbloke]

IMO, the battle for seeded acres(USA) will end around early March, then we'll have to see how planting goes to know whether there will be another leg up for New Crop.(BTW, there will be NO battle for canola acres in Canada, all farmers will plant all the canola they can.) Old Crop will stay high as long as demand is there, we know pretty much what will be harvested in SA, I don't think SA crop will get any bigger to threaten Old Crop canola.

[boarderbloke]

All bets off if there is an "Equity collapse"

[dschill]

Your gonna see the spreads play for a while here. Floor is happy to let the basis (with good crush margins) buy the grain with futures cruising around 600...The trade is well aware of planting INTENTIONS...But is also well aware of where things could go IF wet weather persists on the prairies. April 26 is the Stats Can planting intentions report. Market will have a full understanding of moisture situation at that point and the USDA March plantings figured in. IMO, if prairies have a difficult seeding we go parabolic up, if seeding is more normal, we go parabolic down and Canola Council may get their 15million tonnes 4 years early. Technically speaking, there's NOT a-lot stops above 615-20 range...we need to look at that from both sides.

[furrowtickler]

dschill, you are right. If mother nature alows it, 20 mil acres will be easy, but if weather patterns are as predicted the intention to seed 20mil ac will be just that, an intention to seed if possible. If we get heavy snows in march and the cool wet spring that Drew L explained, big intentions will fall to a 15-16 mil ac reality. Time will tell. I think canola futures will get spanked with the April 26th report and by june 1st reality will set in, if forecasts are right. If it is dry and warm from March 15 through the end of May, a huge crop will be in the cards.

[bucket]

As shitty as the cwb does its job, wheat at 8.50 is buying acres. Its simple farming and is helping out the guys with rotation problems.

There is going to be more canola for sure, but I would bet that some of the other crops are looking like winners without the 300 per bushel seed cost.