Off to the Races

[cottonpicken]

Pretty volitale open tonight things could get interesting.Grains,oil,gold all up and dollar is tanking.

The scramble out of paper and into tangibles is picking up speed.

[mcfarms]

Charlie
What is the all time high for bean oil??

[boarderbloke]

just did some quick checking this morning, not a lot of times in the last 20 yrs that BO was over $0.30. interesting that there were few yrs where BO went up in the oct/nov period. in the years that happened, BO remained flat the following year till june/july where there was one last rally in the old crop. as far as all time highs, in May 1984, BO hit a intra day high of 41.15, but even more impressive, Oct 1974 BO hit an intra day high of 51.00 you should check out the yearly charts for those years. the high for NY Lt Crude in May 1984 was around $31.00, but of course BO / canola oil weren't tied to energy then. also i don't know the cause for the rallies in 1984 or 1974, maybe someone can help with that! commodities do look very exciting this morning, may want to be close to a phone this week

[mcfarms]

Thanks BB
Looked at a few charts and couldn't find it I saw one reference to Beans themselves all time high but wasn't ableto find the Oil number I do know we are at he highest since I've been watching and marketing. Interesting times, now too find some more good basis levels. As I used up the last of it a month ago in the last rally.

[boarderbloke]

mcfarms, have you let your peas go? i'm hearing this weekend about $9.00 for greens picked-up, have you heard any better yet? where do you think they might end up at? what time frame?

[mcfarms]

BB
We grow yellows made my first sale on new crop Friday actually at 7.60 for Mar. Del. Sitting at 40% sold on them now, I have heard greens were trading at a premium to yellows this year again but I haven't been watching then as closely.

Found this on Stat Pub

VANCOUVER - Oct 26/07 - SNS -- Canadian field pea markets advanced into record pricing territory during the week, with whole yellow and green peas trading at historic highs on a delivered track Vancouver basis.

The same cannot be said for grower markets, which finished CDN $55 per metric ton (MT) off their highs for green peas and $22 off their highs for whole yellows. Grower markets for whole green peas are $33 off their highs in the U.S. Pacific Northwest, while establishing new records in North Dakota.

While demand from the Indian subcontinent has eased, steady business is being reported to other destinations. This is contributing to a sense that while bulk conventional exports are slowing, overall movement is continuing at a steady enough pace to prevent any unexpected build up in residual supplies of field peas by the end of the marketing year.

[charliep]

Note the loonie opened above $1.04 and crude oil above $92/barrel. Things outside agriculture are likely to have as much impact as anything on farming. Headed for interesting times.

[kamichel]

Going to have to hold off on this new truck and fifth wheel. Local dealers are way off. Perhaps that half section of land is looking better. But damn that is more work.

[melvill]

OH, I love that phrase "interesting times". It always reminds me of the ancient Chinese curse "May you always live in interesting times." Don't know where I came across that but . . . . .

[charliep]

Your last paragraph is the one that sends up the biggest warning alert to me. Are they licenced and bonded by CGC? I would also keep within the 90 day window so you maintain this protection.

On the first paragraph, sounds as if everything is pretty much at the buyers discretion. Would take to a lawyer and get clarified/find out farmer alternatives.

[cottonpicken]

If you want to put a smile on your face look at an inflation adjusted wheat chart.1973-1974 puts wheat around 27 dollars a bushel.

[melvill]

kamichael, Charlie's comment about licensing and bonding with the CGC is very important. Check to see if the company is CGC licensed at:

http://www.grainscanada.gc.ca/Regulatory/Licensees/licensees-e.htm

If the company isn't listed there, find out if they are operating under some else's license.

You didn't say where you are located. If the company is CGC licensed, contact your local CGC Assistant Commissioner. They are listed at:

http://www.grainscanada.gc.ca/Whoare/a-commissioners-e.htm

My past experience is that assistant commissioners are very good at "leaning" on licensed companies to get them to clean up their act.

[Fransisco]

Cotton have you got a link to such a chart?

I've been curious about that myself.

[wedino]

Sample N Seal will cure the tookage problems.

[URL="http://www.samplenseal.com/"][/URL]

[nw9flynn]

CP,

What is your outlook on oats, just got long beginning of last week. I'm thinking a new contract high is in order...