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Canola

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  • bigzee
    Senior Member
    • Nov 2010
    • 1113
    #1

    Canola

    Most of the canola crop must be in the bin and was record crop!! Futures are falling again this morning when there has been rain and snow for the better part of a wk in some places. What the heck is going on. You would think with all the crop left out there would be some spike in prices? It’s “early” yet I guess that’s their excuses. Even the frost that came for some prices didn’t go up after that. Just more crookery taking place. Prices for all commodities are in the toilet and soon will be flushed away.
    Was told by Pioneer the other day their next bid for durum will be in the 5s.
    Tags: None
    • farmaholic
      Senior Member
      • Sep 2010
      • 17482
      #2
      Click image for larger version Name: soybean chart.jpg Views: 1 Size: 16.5 KB ID: 766711

      Canola isn't a big boy yet and when soy farts canola has to smell it!

        Comment

        • bucket
          Senior Member
          • Jan 2008
          • 17030
          #3
          1cwad is 5.85 here already....

            Comment

            • Partners
              Senior Member
              • May 2010
              • 3105
              #4
              Most canola still out.
              Some still swathing there frozen stuff..shows how little we really matter.

                Comment

                • bigzee
                  Senior Member
                  • Nov 2010
                  • 1113
                  #5
                  Must be a huge amount of carry over from the massive 17 crop. Guess $12 bu wasn’t good enough for some.

                    Comment

                    • farmaholic
                      Senior Member
                      • Sep 2010
                      • 17482
                      #6
                      Originally posted by bigzee View Post
                      Must be a huge amount of carry over from the massive 17 crop. Guess $12 bu wasn’t good enough for some.
                      I know no one who had any left!

                      Speculating at $12..... come on!

                      I will never forget the time, obviously a while back, that I found a canola price chart. It was a long term chart and showed canola at $9 once maybe twice in the timeframe. Moral of the story was how often did canola hit $9....what are you waiting for.

                      Farming101. Can you make a chart dating back about 20 years showing the yearly highs? The chart will tell the same story about $12 canola. Not saying it can't, and won't, go higher but....
                      Last edited by farmaholic; Sep 17, 2018, 08:22.

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                        • bucket
                          Senior Member
                          • Jan 2008
                          • 17030
                          #7
                          Judging by the space being saved at the elevators and the early call on november contracts ....I would say there is very little carryover...

                          Trains were switched from 112 canola to half of something else in a couple locations....

                          And yet prices don't move up...

                          Doesn't really matter ,,, rail movement is the shits for the weather we have had and port is sitting with space both at the terminals and floating on the water....

                            Comment

                            • bigzee
                              Senior Member
                              • Nov 2010
                              • 1113
                              #8
                              Originally posted by bucket View Post
                              1cwad is 5.85 here already....
                              Better get some signed up next resistance $5.50!!
                              Wondering how some of these $100-120ac cash rents are going to get paid with these pathetic prices?

                                Comment

                                • farmaholic
                                  Senior Member
                                  • Sep 2010
                                  • 17482
                                  #9
                                  Originally posted by bigzee View Post
                                  Better get some signed up next resistance $5.50!!
                                  Wondering how some of these $100-120ac cash rents are going to get paid with these pathetic prices?
                                  ....like bucket says, "ON VOLUME" I thought I would capitalize it so you could hear it...turning up the volume!!! LOL

                                    Comment

                                    • macdon02
                                      Senior Member
                                      • Sep 2007
                                      • 1858
                                      #10
                                      Beans need the $7 print to get the majority offside. Should see canola head fake under long term trendline before reversing hard up

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