Canola Futures

[mcfarms]

Canbra Lethbridge 15.15 July with the nice little 1 under basis they had out a couple weeks back.
( I put a GPO in for 1000 a tonne for a lark on the remainder unpriced here.)
A super B of Canola is close to 30000 now, Is Saskfarmer still in Mexico??

[cottonpicken]

When canola broke 464,that was our breakout.

The next target is 774.

We are at 645.

We are well over half way there.

Scroll down this was all posted.

Once 774 ish gets taken out...drum roll please....1200 ish.

And then i will tell you to sell and then Tom will tell me it is suicide to be bearish in this this bull market..............while spring wheat is single digit.

[agstar77]

Interesting to note that commodity funds bought 6000 soybean contracts in Chicago today ADM bought only 1000. Underscores the commodity funds importance in determining commodity prices.

[furrowtickler]

Agstar, I think you may be right on canola - To bad we can not capture the full value of our hrs wheat, aprox 50% left.

[cottonpicken]

Wouldnt 20 days of limit up be nice to see.

[Jay-mo]

Exactly, CP. Quick math off the top of my head, if canola limits where tripled for a few days like the MGE on wheat....would put it well over $800 on the near month by the end of next week.
Now that would be something to get excited about.

[wedino]

Cotton, I may need to buy you that bottle, afterall. I won't mind losing this bet.

[melvill]

But the important question is, "Would anyone sell any at $800 or would they wait for nine hundred?" I've noticed that Greed, not Fear, is becoming an over riding motivator in some of my phone conversations with producers.

[SASKFARMER3]

Melville here we go again its greed that's moving farmers.
Hell you would have had all off us liquidate our production at 8:00 then 9:00 then 10:00.
Canola is undervalued compared to other crops and Should be at 18:00 That's when one sells.
Profit big profit and then farmers are in control TAX man is their only problem, Not Chem, Fert, Banks Etc. Its huge profit and for once that's whats needed.
Yea I guess I am greedy but since most of My Canola is Always sold in Month of March (Road bans no one wants to haul) or June when sweep our bins. Get a Basis and Run with it.

[cottonpicken]

Mistakes on marketing come right off the top.