Canola down hard

[farmaholic]

Ouch, sometimes you're the windshield sometimes you're the bug.

This ain't pretty. Some Terminals WAY under $10.00

[Daylate]

Sell! Sell!! Sell!!!
Beat your neighbours to the coast!!!!

[farming101]

I don't think too many are worried about prices right now. How much old crop can possibly be left?
Forecasts are for a 1.35 million carryout. Commercial stocks were that much last weekly report. So
on farm stocks should be next to nothing by July 31.

Long canola in the field. 18 months to go.

[farmaholic]

I haven't sold a bushel of commodity canola for under $11.00. Might have about 10-15 tonnes of overage I will have to take the poor price for.

[errolanderson]

This was a broad-based selloff in global commodity prices today . . . much deeper than our lone canola market. Crude oil lost another 5%. The global economic slowdown, renewed banking concerns in Europe and financial warnings in China have directly impacted the commodity world (IMO).

[SASKFARMER]

Buyers think it's in the bin!
F$&k them!
Idiots just once should have to grow a crop and lose money as the games are played!
The crop ain't that massive boys! Wait till Monday's rain this one could be a bin duster!
Meaning bins empty and dusty!

[Oilking]

I'm sure fertilizer must've taken a real hit today too

[jake550]

Thought it was only the wheat we wouldn't be able to sell for a long time.
Canola bins will be locked now also. New crop I'm referring to. Gotta get it in the bin first lol

[farmaholic]

Good point 101. But it always seems to be a slow arduous ascent compared to the speedy descent....especially when we are only about 8 weeks away from new crop supplies with guys looking to unload stuff that they can't squeeze into bins or have to sell some for cash flow and didn't want to risk selling what they never had.

But I bet there may be afew bushels laying around that people wished they would have priced.

[Partners]

So did everyone price enough at $11.50? We all had a chance for that price..or were you waiting for $12.00?

Some guys went as high as 20 b/a...