Ok Canola Basis is Zero In Eastern Sask, Are all the Bins Empty

[mbratrud]

As a Farmer who has plenty of skin in the game just ask my banker, and a consultant. 6 weeks ago I wish I would have just gone with the fundementals on Canola and I would have still had some old crop. Instead I decided to manage my risk and sell the last of my old crop I averaged about $12.30 a bushel for the year. My biggest worry was what was coming next year, and this is a selling oportunity I could have never dreamed of. To all of you who simply lucked out if you are selling at the high, you should thank me because I sold earlier to provide you with this oportunity. Don't send flowers just money. I blame Cotton for my Jan sales because he freaked me out with the BDI discussion back then. LOL Anyways lets enjoy the ride and not forget to lock in some profits.

[charliep]

Actually a good review of market information in the past and future. The same pattern of information repeats itself every year (at in the 25 years of doing this stuff). It nuances like South American weather, China demand, canola acres this spring, etc., etc, etc that make things fun and keeps life interesting. If it wasn't fun, I would likely be doing something else - won't you be? If this causes you too much stress, continue to grow CWB grains and use their services. They may expand to other crops.

[SASKFARMER3]

Sitting waiting, waitin, waiting. This shitbased on
today's price equals 10.06 it's not nice looking
shit.

[SASKFARMER3]

Sitting waiting, waitin, waiting. This shitbased on
today's price equals 10.06 it's not nice looking
shit.

[SASKFARMER3]

Having fun loving life, now don't get me wrong the
1st 15 of farming just abou killed me.
Still waiting to unload its 1 1/2 hrs per truck. I've
been here since 10:30.

[SASKFARMER3]

Charlie how any years in the last 15 has waiting
till march not made you money. I'm thinking only
one didn't.

[freewheat]

SF3, how heated is your canola?

[SASKFARMER3]

Still waiting don't know yet

[freewheat]

They are that slow, eh? Do they still have
you dump into a 10 inch auger, and into
various bins, or do they actually have a
pit etc. now? Shoulda been stockpiling my
"heateds" over the years. lol Not like the
quality is gonna get any worse. I might
have had 600 bushels by now. haha

[farmaholic]

Farmaholic Price Pooling for Canola:

% of crop sold $/bu.
7.13% $13.80
7.14% $14.06
11.61% $12.50
7.49% $12.50
38.71% $13.00
5.81% $13.52
6.77% $13.50
15.33% $ unpriced

Average weighted price of sold canola $13.13/bu.