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Statistics Canada Stocks Report Released Today

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  • charliep
    Senior Member
    • Oct 2000
    • 9002
    #1

    Statistics Canada Stocks Report Released Today

    Statscan released the July 31 stocks report. Biggest surprise was canola - 2010 crop under estimated by close to 1 million tonnes.

    [URL="http://www.statcan.gc.ca/daily-quotidien/110907/t110907a1-eng.htm"]July 31 Stocks[/URL]
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    • crusher
      Senior Member
      • Jun 2001
      • 1188
      #2
      That report was a real nonevent. I guess nobody believes it or they saw it coming.

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        • charliep
          Senior Member
          • Oct 2000
          • 9002
          #3
          You are right. A non event that barely rates a yawn.

          The first hint the trade uses on availability is delivery patterns. Deliveries have been strong through the summer - an indication of adequate supplies. I canola would have been at bin bottoms, deliveries would have tightened and basis levels been a lot stronger.

          Am amazed how my back of a cigarette formula works for canola and soybean oil. Multiply soybeans oil futures prices by 1,000 and you get canola futures.

            Comment

            • crusher
              Senior Member
              • Jun 2001
              • 1188
              #4
              I cleaned out my bins at a zero basis, thought that was alright.

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