Canola Discussion

[charliep]

Canola market remains very interesting and on the move higher. Basis levels at least are atrractive.

Here is the old discussion thread.

[URL="https://www.agriville.com/cgi-bin/forums/viewThread.cgi?1424198741"]Canola[/URL]

[charliep]

November chart. Heard the first $10/bu new crop bid (September delivery).

[URL="http://www.farms.com/markets/?page=chart&sym=RSK15"]New Crop Canola[/URL]

[charliep]

Opps.

[URL="http://www.farms.com/markets/?page=chart&sym=RSX15"]November[/URL]

<a href="http://www.farms.com/markets/?page=chart&sym=ZLZ15">December Soyoil</a>

[Hopperbin]

Latest is canadian dollar may drop to 75 cents. Basically another 5 percent. Currently usa soybeans are 12.50 canadian. And the american farmers are bleeding.

[Hopperbin]

In fact farmers exporters around the world have income issues. And at the same time tryi g to store grain. Cannot immagine brazil trying to store under high temps. We are fortunate for our lower dollar. Just saying our dollar value is important. We are to have another boc rate drop.

[crusher]

Canola chart is a lot prettier than soyoil. It's had a decent run and we're sellers this week on another 20% old crop whether targets are met or not (spent some money this week). Still have another 16 months to sell new crop, think we'll wait a bit.

[Braveheart]

Could soymeal be more of a driver? Livestock sector is doing well. That should increase demand for protein.

I think continued demand and the weaker CA dollar will keep canola supported to higher.

[wheatsnowcanola]

Really not excited about prices yet. Considering the C$ and price of soybeans. Have not sold any yet, and wish others would have shut their bin doors at the sub $10 bids given for months. Price needs to begin with $11 at least!!

[sawfly]

sorry sold some under 10.
i have been on the other side many times , holding out only to get burned.
she's a cut throat business
they sure seem to be shipping a lot of canola.
maybe they will run out, and 11 will show up.

[grrrr]

I seem to remember market analysts telling us that $10.00 was the upper limit. "Sell if you can $10.00 because it is heading to $8.00." With the huge soybean crop and all.

[Guest]

yes, just about every single one of the market experts told us that , including almost every market report in producer . yet they are all still "experts" working with grain co's helping to get our canola for prices below cop and no one every asks them how they got it wrong again ??

[oneoff]

Time to reread history ....again and again....because there are such short memories

[mcdon]

Recent drop in crude and hog prices underscores the importance of price risk management, energy firms that "got it wrong" have gone broke.Interesting that the one commodity that has a functioning futures market is also the commodity that is providing a reasonable price to farmers.

[charliep]

To highlight, new crop has rallied nicely. Oct./Nov. delivery are both within spitting distance of $10/bu. Don't know if this will prove to be to be low next fall but I do know not a bad place to start new crop pricing.

I asked this question before/never got a response but what canola price would you use tolday if you would developing a business case/financial plan for a land purchase decsion?

[farming101]

Total open interest has leveled off the last few days. Might be an indicator that the rally is going to take a pause. However it might not be today. Another green day so far.