Canola futures

[Hopperbin]

Was hoping not to stoop to the level of the monopoly chat but here goes, facebook the vehicle of free speech has been de faced by the CWB for deleting open speech for not conforming to their logic. Well now CWB claims no responsibility for this.
Who is responsible?

[TOM4CWB]

Wilagro,

In a demand driven market the ICE Canola contract is truly the 'single desk' to watch and sell grain on.

ICE Canola is truly growing into the global window of transparent marketing.

Great to see Basis levels shrink and supplies bid out at higher and higher prices... to ration demand. Something the CWB 'single desk' folks left out of their marketing equation... we need willing buyers... and sellers... for long term stability, consumption, and supplies.

Holding a 'Gun' to anyones head... will NEVER lead to long term stability... a fact which is clearly evident in Canola marketing today!

[ado089]

basis??? market??? What are these crazy words you speak of? How's a simple plowboy like me s'pose to learn big fancy words like those?

[furrowtickler]

Hey addo - do any HRSW yet? I am still waiting for details on Premiums and discounts. $7.15 at P&H with no details, gota phone on that one.

[furrowtickler]

Just phoned - #1 hrsw 13.5 to 13.9 protien. No word on discounts or premiums.

[bucket]

I am going to wait and see what the other players come into the market with.

There is still bunge, conagra, toefler and the evil family run business cargill to come in.

And of course, for some reason the late comers, the new cwb.

[malta]

Canola has not broken it's range yet but is close. As for hrs (August)Dreyfuus is 7.22, Viterra 7.02 richardson 7.12. LD and Vit are 13.5 prot Rich 13. All are around a dollar more than fixed price would have been. I didn't contract any of 2011 so will wait to see Cargill and protien spreads then lock in for August.

[charliep]

Taking off the canola topic but interesting to do the comparison with MGEX. December futures today USD $7.80/bu. Loonie 0 97.4 cent. Converted value - Cdn $8/bu (if my math is right). Your basis is about $1/bu under to give you a sniff at $7/bu. To equate to the old FPC world, your basis at Vancouver would be about 50 cents/bu over futures ($18/tonne is that makes more sense). I am assuming $1.50/bu freight, elevation, cleaning, etc.

[charliep]

Nice to look at a real price including basis versus a futures only contract.

[ado089]

No wheat left. If you want to know what's happening in the states keep an eye on country hedging, they post basis levels FOB Minni at the end of each day for some various protein levels. Your freight deduction to Minni from N.B. will be about the same as the CWB deductions. 14.0 pro is $1.55 over Minni, our wheat should be $8-8.50. The markets are telling us what the USDA isn't.