Canola

[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!!

[sumdumguy]

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?

Was that a valuable piece of information!

[Guest]

Neighbor lady put a target in for 23 a bushel for immediate delivery and she triggered this am !

She says were celebrating tonite !

Dreams do come true !

Be careful

[sumdumguy]

Take a look at the satellite pictures tonight, wish that was heading our way, but NW Sask should get a drink tonight. First orange syatem I have seen this year.

[Prairie dog]

If canola follows lumber it's got a fair bit of up side yet !

[biglentil]

Don't get too excited. Just try to build something out of Lumber with canola proceeds you are actually less wealthy in Lumber terms. Canola will go to infinity a bushel in dollars but will it matter if the purchasing power of those dollars is zero.