Canola

[SASKFARMER]

Were Approaching 14 dollars a bushel and that's the pull for me. I said since mid-summer the 2020 crop wasn't what the so-called experts were saying. I said our provincial Ag minister is full of shit and couldn't predict a bumper if his life depended on that.

The grain companies knew this and played along with the game as experts and sat know everything and stupid farmers don't know jack.

Well Canada and the USA are going to be out of both soy and canola by summer. Games will be played and they will want and say its wall to wall canola in 2021 to drive down the price.

Remember the goal of super acres was that we would all grow 55 and get paid 10 or less. They would still get paid huge dollars for seed.

[beaverdam]

Jan to July inverse is HUGE.

Maybe the crushers already know they'll be out of canola by July, and will be shutdown for "maintenance."

No desire to chase canola for July delivery, when December offerings are already at, or close to $14.00

[farming101]

February delivery anywhere from -15 to -34 basis March

[ajl]

14.15 for March bid from Graincorp Vegreville this morning. Actually beats my best canola sale ever of 14.13 which occurred in Apr 2012.

[Maver]

Where is the next line of resistance for March futures? Up to 630.80 and backed off this morning. 635-640 ?

[Blaithin]

Jan to July inverse is HUGE.

What is the basis in your nearby bids?

0 to -15

[farmaholic]

We have local GrainCo that also crushes in the NE.
Local posted bids are a dime to twenty cents higher than crusher delivered price.

Kind of a "HUH?" moment.

[Blaithin]

This made me laugh. Doesn’t matter the country, doesn’t matter the association, doesn’t matter the commodity, it’s almost word for word 😆

[beaverdam]

We have local GrainCo that also crushes in the NE.
Local posted bids are a dime to twenty cents higher than crusher delivered price.

Sounds like there is a ship somewhere, waiting for canola seed.

[beaverdam]

This made me laugh. Doesn’t matter the country, doesn’t matter the association, doesn’t matter the commodity, it’s almost word for word 😆

So true.

It always seem that farmers should be(or would be) the first to know "we're having a smaller harvest",,, yet it also seems like farmers are the last to know there's been a smaller harvest.