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    #341
    Originally posted by GDR View Post
    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.

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      #342
      Originally posted by seldomseen View Post
      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.

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        #343
        $25...26...27...28...29...$30 There now you know.

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          #344
          Originally posted by fjlip View Post
          $25...26...27...28...29...$30 There now you know.
          What about $24?

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            #345
            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!!

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              #346
              Originally posted by seldomseen View Post
              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!

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                #347
                Originally posted by wiseguy
                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

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                  #348
                  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.

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                    #349
                    If canola follows lumber it's got a fair bit of up side yet !

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                      #350
                      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.
                      Last edited by biglentil; May 7, 2021, 18:15.

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