Ceres Global Ag cancels $350M US canola-crushing plant.

[jamesb]

In some ways I am not real surprised. Compared to the other companies that have announced projects, Ceres isn't a big outfit IMO. We do some business with them and they are growing. Kinda makes me wonder if they didn't bite on more they could chew and got a little ahead of themselves. They have been pretty competitive on canola basis seasonably and I expect that to continue.

[poorboy]

After the drought I think Ceres realized it was a terrible location.

On the edge of the canola growing region is not ideal, you want to be in the heart of it. Also not close enough to a big labor market.

Even the regina crushers are in the wrong place for canola supply. It must be that the location would fit well for providing bio diesel to the refinery.

[bobofthenorth]

https://www.msn.com/en-ca/news/canad...c714ceddc3d89b

Must be having second thoughts about competing against plants coming into Regina???

Stupid place to build a canola crush plant. I can sort of understand that Regina is a transport hub but Northgate? Seriously?

[AlbertaFarmer5]

I recently read that during the ethanol boom there were so many ethanol plants proposed that in the end something like 2/3 never got built. First come first served, until the marketplace gets crowded.

Same applies, if every canola plant for diesel got built, there would be massive over capacity, expect more to be cancelled as they keep doing feasibility studies and trying to raise capital.

[furrowtickler]

I recently read that during the ethanol boom there were so many ethanol plants proposed that in the end something like 2/3 never got built. First come first served, until the marketplace gets crowded.

Same applies, if every canola plant for diesel got built, there would be massive over capacity, expect more to be cancelled as they keep doing feasibility studies and trying to raise capital.

Agree , kinda like pulse protein plants . All the rage till they realize that pea acres are going to crash again next year . Wet areas probably will get hammered by root rot , and 80% of the peas in this entire NW got flashed bad by herbicides regardless of timing , temperature or any other excuse they have . Most guys are simply sick and tired of throwing good money after bad for others up the “value chain “ . Also pulse prices are still dismal even after the recent crash in wheat and canola

[Guest]

just sold last of peas for $16.29 , was pretty happy with that !