Canola markets

[furrowtickler]

Reality kicking in again

[farming101]

Nov continuous took out the July 2/21 record. Limit up.
This year's prices have taken out the Mar08 Nov continuous record by nearly 10%. So far.

[farming101]

Normally another gap higher on Monday would be ringing the overbought alarm but this isn't normal

[AlbertaFarmer5]

Is there any precedent for western Canadian grain markets to chart their own course in a weather market such as this?

It seems the US markets are satisfied that the eastern corn belt will be good enough to make up for the western and northern drought, and are drifting lower. Wheat prices are being thrown out like the proverbial baby with the bath water. In spite of the fact that almost the entire spring wheat crop is severely affected by drought, so as of today, we can't expect much of a lift from US markets.

So if we are drastically short on canola and feed grains, can the ICE market go its own way as it appears to be doing now? Palm oil and soybean oil are supportive again lately. Can the equivalent of basis do the job on feed grains? It is a long way to rail or truck corn from the eastern corn belt.
Is there a substitute for wheat in feed rations?

If there are a lot of contracts needing to be bought out does that necessarily have to translate to higher producer prices? Or is that entirely a paper game?

[Partners]

20 bucks off combine , for anyone with a crop.

[Old Cowzilla]

20 bucks off combine , for anyone with a crop.

As long as they have those $ 12.00 January contacts covered !

[WiltonRanch]

As long as they have those $ 12.00 January contacts covered !

Ouch!

[TASFarms]

Even some $11 contracts out there

[Ronski]

Even some $11 contracts out there

And here I was feeling bad for starting at 14.50. I feel bad for guys who may have to buy themselves out.

[GDR]

Is there any precedent for western Canadian grain markets to chart their own course in a weather market such as this?

It seems the US markets are satisfied that the eastern corn belt will be good enough to make up for the western and northern drought, and are drifting lower. Wheat prices are being thrown out like the proverbial baby with the bath water. In spite of the fact that almost the entire spring wheat crop is severely affected by drought, so as of today, we can't expect much of a lift from US markets.

So if we are drastically short on canola and feed grains, can the ICE market go its own way as it appears to be doing now? Palm oil and soybean oil are supportive again lately. Can the equivalent of basis do the job on feed grains? It is a long way to rail or truck corn from the eastern corn belt.
Is there a substitute for wheat in feed rations?

If there are a lot of contracts needing to be bought out does that necessarily have to translate to higher producer prices? Or is that entirely a paper game?

The other question you need to ask is how high do Canadian prices have to get before buyers give up on trying to fill boats with short supply and high prices and start shopping elsewhere?