Canola

[seldomseen]

I saw a tweet on Twitter why back in last November that said "Canola will be $23.00 per bu. by spring! You heard it here first."

Don't know who tweeted it but looks like they were right. Maybe one of you guys?

[Sodbuster]

Sold my last 3 loads to Bunge for August delivery, hit my target price of $23.70 in tonight’s overnight trading, thought about $24 but we’re past anything I’ve ever seen or dreamed. When will this market run out of steam, it’s gone further than I would of ever thought, I’m thinking it mostly speculators driving this market now? If this drought or lack of rain keeps up I don’t know where this market will end up. We still have decent moisture in the ground but it’s drying quickly, a nice half inch of rain would replenish it for now. That’s the end of my random thoughts for tonight.

[Partners]

Sold some this am 22.50 a bushel immediate delivery !

All time high !

Us too.
Bubble has to burst soon.

[Guest]

sold july nexera for $23.25, unreal

[sawfly1]

Where are all the guys that used to say
Well you could have locked in 12 $ canola in January. For next fall. And locked in your profit.
Sadly I did. Not a great amount. 6 bushels acre , bad enough, so what now double down on growing
Some. And lock in more at 16?
Unbelievable , good thing I was slow hauling out .
Have 3 or 4 thousand left., or do I wait for the rain when new crop crashes, who would of thought 20 some $ canola would be a problem?
Good thing I was slow on hauling wheat too.

[Partners]

Crop is going to be tiny compared to last yr cuz some will miss the rains.
Prices will be current or higher..

[furrowtickler]

Still am blown away of how the market this time last was all hinged on a total lie of a huge carry over ... Then the record canola crop ... in July lol
Wow did we all get screwed the past 18 months

[beaverdam]

Likely a small expense for the ChiComs, to payoff 1 or 2 or 3 influencers. Hey, that's the way the world works now days. There are influencers for most things, why not for cheapening the value of grain, after all we're talking 100's of millions, likely billions of lost dollars. The real question is,,, how much do we give up in a "normal" year? Was $6.65 for HRS in 2020 dollars, really a good price to sell for last year? lots sold for less, but the lie was already started.

[GDR]

How much of the run up in all grain prices is speculation/ trading versus real supply and demand driven economics. It's easy to think the world wants and needs our product, but there is a point where the demand side says it's too expensive and shifts to an alternative and when the speculators notice and all jump ship we all know what happens to markets. I havent priced any fall canola but can right now at $17, sure feels like a guy should. Farmers can think prices should keep heading up but that doesnt make it so.

[Partners]

Grain companies texting every day that canola is 16 bucks for sept.
Put targets in for $30.00.
Still trying to rob us..

[AlbertaFarmer5]

How much of the run up in all grain prices is speculation/ trading versus real supply and demand driven economics. It's easy to think the world wants and needs our product, but there is a point where the demand side says it's too expensive and shifts to an alternative and when the speculators notice and all jump ship we all know what happens to markets. I havent priced any fall canola but can right now at $17, sure feels like a guy should. Farmers can think prices should keep heading up but that doesnt make it so.

What alternative. All of the vegetable oils are very high right now.

[AlbertaFarmer5]

I saw a tweet on Twitter why back in last November that said "Canola will be $23.00 per bu. by spring! You heard it here first."

Don't know who tweeted it but looks like they were right. Maybe one of you guys?

Did they say what their crystal ball says comes after the $23? That would be useful information to have right about now.

[fjlip]

$25...26...27...28...29...$30 There now you know.

[AlbertaFarmer5]

$25...26...27...28...29...$30 There now you know.

What about $24?

[ry0972]

July canola has been active today!! up from $18 to $45 a tonne!
Broke through the $1000 and got up to $1008!
Wheat and corn also continue to move up.
Should a guy do some basis contracts?
If futures go ballistic I doubt a farmer will be able to just roll in with a load of wheat and cash out at $15/bushel spot price!!!
Or $30 canola!!