Canola markets

[Generation 5]

Can someone here smarter than me expain the carnage in the canola market. Thanks in advance

[Robertbarlage]

China not buying

[tubs]

Wondering if our grain co don't want to export canola anymore there is way more money in crush margins. That why they want to keep the price low. As always follow the money,

[Old Cowzilla]

Farmers keep hauling it in so buyers don't have to offer more. Everybody is busy chasing the market down.

[AlbertaFarmer5]

Farmers keep hauling it in so buyers don't have to offer more. Everybody is busy chasing the market down.

And eventually, the opposite will be true.

[Sodbuster]

Not much for canola exports and soybeans being crushed more for the meal is forcing soyoil down which directly affects the price of canola. Grain companies picking the low hanging fruit now coupled with input loans coming due before the year end not helping manners. This chart pretty much tells the story. Hopefully we will see the bottom soon.

[AlbertaFarmer5]

Looks like 3-year average for canola yields in Saskatchewan is 31.6 bushels pee acre.
At $15 for bushel, how many acres does that buy next year? Especially considering how dry most areas went into the winter.

[zeefarmer]

Looks like 3-year average for canola yields in Saskatchewan is 31.6 bushels pee acre.
At $15 for bushel, how many acres does that buy next year? Especially considering how dry most areas went into the winter.

I'm sure alot of either up or down in acres in the dry zones will depend on crop insurance coverage. But in talking to local retailers and farmers so far this fall, there isn't much interest in canola here for 2024 so far.

[furrowtickler]

I would think crop insurance coverage levels will be down significantly and premiums won’t be pretty in areas where guys need it the most

[workboots]

Let’s hope the bloodletting doesn’t continue and we end up in the “trough of disillusionment” some time around late summer when storage for the 24 crop starts to become an itch needing the scratch.