Just great,our canola's high oil content, a premium oilseed, is causing the price to drop! Instead of getting paid more for it we get screwed!
Quote..."Canola dropped to a five-week low on signs that global supplies will increase and on speculation that demand from Canadian processors will slow because this year’s record domestic crop has higher oil content. Canola plants in Canada, the world’s largest grower, have an average oil content that’s 1.5 percentage points higher than a year earlier and exceeds the 10-year average, the Canadian Grain Commission said Nov. 18. Processors crushed 1.8 million metric tons of the oilseed this year as of Nov. 13, down from 2.1 million tons a year earlier, according to the Canadian Oilseed Processors Association. “Supplies are going to remain very, very abundant here,” Ken Ball, a senior commodities futures adviser for PI Financial, said in a telephone interview from Winnipeg. “It could be the higher oil content means they have to crush a little bit less to meet their shipping commitment.”
Quote..."Canola dropped to a five-week low on signs that global supplies will increase and on speculation that demand from Canadian processors will slow because this year’s record domestic crop has higher oil content. Canola plants in Canada, the world’s largest grower, have an average oil content that’s 1.5 percentage points higher than a year earlier and exceeds the 10-year average, the Canadian Grain Commission said Nov. 18. Processors crushed 1.8 million metric tons of the oilseed this year as of Nov. 13, down from 2.1 million tons a year earlier, according to the Canadian Oilseed Processors Association. “Supplies are going to remain very, very abundant here,” Ken Ball, a senior commodities futures adviser for PI Financial, said in a telephone interview from Winnipeg. “It could be the higher oil content means they have to crush a little bit less to meet their shipping commitment.”