Good discussion about current weather and the canola market. Also recently read a market commentary that said the canola market was effectively ignoring the weather - lots on Agriville saying this too.
IMO, the market is doing exactly what it should, given the circumstances.
What's interesting to me is that there is not much talk about basis or spreads.
You guys inspired me to write some detailed thoughts on current weather's market impact on canola.
- deliveries way behind where we need to be
- 20+ vessels waiting for (mostly) canola
- futures not taking off
- basis is flat to even weaker (and be careful - country basis will never go to +50 under any circumstances)
- spreads firming up but not unusual
- where do we go from here and when
Happy to give free copies of this report (latest of my weekly reports)
Just drop me a line at john@depape.ca
IMO, the market is doing exactly what it should, given the circumstances.
What's interesting to me is that there is not much talk about basis or spreads.
You guys inspired me to write some detailed thoughts on current weather's market impact on canola.
- deliveries way behind where we need to be
- 20+ vessels waiting for (mostly) canola
- futures not taking off
- basis is flat to even weaker (and be careful - country basis will never go to +50 under any circumstances)
- spreads firming up but not unusual
- where do we go from here and when
Happy to give free copies of this report (latest of my weekly reports)
Just drop me a line at john@depape.ca
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