Bean oil

[saskshafe]

What am I missing with soy oil. Up two cents the last 3-4 trading days. Have a hard time believing canola is affecting the market. is this shitty weather in all of North America?

[farmaholic]

Surely it must be something else because all we've ever heard is that Canada's crop doesn't matter!

Especially wheat! Imagine, 20%ish of Western Canada's crop still out in sopping wet fields or covered in snow in the THIRD WEEK OF OCTOBER!!!! Could good quality wheat be tight? Canada feed....

Canola? that is going to be a gong show for the guys who manage to get it off. How much will spoil that was harvested? Wind loses to standing canola. Some shatter loss to swathed canola, and how much will never see a combine til spring of 17? This may not be driving bean oil but I bet it is a wake-up call for domestic crushers, graincos with future sales commitments, and customers who like to buy canola.

[Oliver88]

Up slightly this morning again, would be interesting to know what the reason for increase is.

[AlbertaFarmer5]

Farma, I hope you're wrong and we get this crop off before spring of 07. That's 91 years to wait. I have bills to pay before that.

Looks like oil is leading beans, perhaps the market has noticed Canada?

[farmaholic]

For everyone's sake who has crop out, I hope I am wrong too!

[farming101]

Not quite sure either.
India is obviously making a difference. The largest importer of veg oil worldwide. Latest WASDE hiked Indian bean oil imports 300,000 tonnes for 16/17.
Palm oil is getting pricey compared to bean oil. Depending on which market you compare the ratio is in the top 5 percentile or even the most expensive ever relative to bean oil.