Canola Price

[Goodtime]

Canola moving in the right direction.

[Sodbuster]

Canola doing it’s own thing this morning, soyoil been down hard in the last week. Is there some news we don’t know about because these prices are not inline with soyoil or soybeans. Only news lately is statscan lowering canola production.

[AlbertaFarmer5]

Canola doing it’s own thing this morning, soyoil been down hard in the last week. Is there some news we don’t know about because these prices are not inline with soyoil or soybeans. Only news lately is statscan lowering canola production.

The EPA proposal was favourable for Canola, disappointing for soybeans.
Crush margins are still $200 per tonne on Canola, so oil can continue to drop, and canola can continue to go up, and still remain profitable. Unless of course, we continue to sell and let them keep the insanely high margins( I admit, I am guilty right now). That is down from over $300 a week ago.

[wheatking16]

I will reassess at that level but anticipate the price to slow down or reverse at the 850-860 range.

Constantly reassessing.

We got our slowdown as Canola has spent the past 8 days attempting to break above 860.

A move is likely to happen shortly.

The question is, Which direction?

[BreadWinner]

Viterra has a special on canola so historic specials seem to signal a rise in futures.

[Partners]

20 trucks lined up at RP yesterday.
Buying canola/,fd bly..
Lots has been priced..sure better than 30 below hauling..

[furrowtickler]

20 trucks lined up at RP yesterday.
Buying canola/,fd bly..
Lots has been priced..sure better than 30 below hauling..

We hauled out a bunch last week , not fun . Hard on augers and this ole body

Cleaning wheat this week , hauling a few peas , much nicer, at least tolerable

[Generation 5]

Canola taking losses today

[Rareearth]

And that is part of the market psychology, not alway fundamentals or charting.

If farmers are not selling right now, they the buyers will increase or decrease the bid ( basis) for a lot of reasons.
If the crushers are full, enough canola sitting in grain terminals inland and at port then expect price decreases.

It is cold out so farmers dont want to venture out much except to feed the livestock, and stock up on the liquors.

[BreadWinner]

Christmas markets, lots of traders get out of their positions and reevaluate after jan1st.