17.231MMT Canola 2015...

[binthere]

tom in one of your recent posts. you said with an increasing, consistant supply canola would increase in price. now you are saying the opposite will happen. really.....

[Braveheart]

Stats Can numbers won't pressure canola prices down if bean oil strengthens.

[crusher]

I sold this morning on fear of a crash. It bounced back, great!! Just sell more.

[WPmarkets]

Bean oil rose about 4 percent today.

A huge increase in the estimate of Canada’s canola crop hardly pushed futures lower as a big rally in soy oil offset the downward price pressure.

Statistics Canada’s producer survey today pegged the canola crop at 17.23 million tonnes, up about three million from the September survey and up five percent from last year.

Most in the trade had expected a crop of around 15.5 million and no one in the pre report survey by Commodity News Service had a number higher than 16.2 million.

However, the market reaction was muted, with offsetting upward pressure from strong canola exports and domestic crush as well as rising soy oil prices.

January canola on Friday closed at $474.20 per tonne, down $1.10 and March closed at $483, unchanged.

For the week, January gained $11.10 or 2.4 percent and March rose $12.06 or 2.7 percent
And the rest of the story is here:
http://www.producer.com/daily/canola-futures-show-surprise-resilience-in-face-of-bigger-crop/

[farming101]

Rapid increase in open interest this week. Very positive.

[tweety]

Farmers never learn that they shouldn't brag to stats can about how great they're yield is, like they are gonna get an atta boy sticker or something. Sheesh.

[farming101]

The next numbers that will be revised upwards are domestic use and exports. 398,200 tonnes gone in week 17.

[MBgrower]

Stat can just playing catch up to all their previous under estimates from previous years so that 2016 ending stocks number will be accurate.