Sept/Oct Canola Starts with a 12

[Crestliner]

Anybody watched the canola market today?
$12.80 new crop canola....
sure glad I grow 80 bushel per acre average. Got my cheap fert and chem in the bins and shed.
Lifes good down on the farm....no worries at all. It's all good!

[fjlip]

Drink much? Just enough, denial...low cost inputs, real low cost seed in bins.

[rumrocks]

Crop insurance uses Jan. to set base price for insured crops.

[fjlip]

Funds making, every $10 lower/ tonne = $26,698,800 gain on their short as of Jan. 23, 2024

They are smiling all the way to the bank, don't give an F about anyone else. Enjoy the game!

Crushers making $$$$ as it goes lower too!

[BTO780]

The home run derby is over.

[blackpowder]

I didn't complain when it was $18+.
Neither am I when I didn't forward sell.
Blame myself.
Thankfully crush margins positive or we'd be lower yet.
Notice when they're quite negative for a period, it doesn't all go to basis.
Still hoping for a near $15 avg.
2025 will be the tell if 24 much lower than that.

[furrowtickler]

The home run derby is over.

Home run derby never existed for many

[BTO780]

Wowzers is canola headed to $10??

WTF is going on??

Everything is plummeting every day.

Red, red, red!!

[the big wheel]

Hahaha someone said thank God the crush margins are positive! Holy fuuuk can you not see what our monopoly crush has done? We re importing the lowest price canola can you even believe that? And what is the crush margin? is it the reported amount that turns canola seed into oil or is it the unreported amount that goes from canola seed to oil with a company label on it ready to be put on a shelf? Because grocers are saying the bottle stuff with a label on it has gone up in price. Are our crushers going around the report by havine middle companies in name only?

[wheatking16]

Don't Panic above 600.

With apologies to Douglas Adams

[Old Cowzilla]

Local grain buyer said yesterday that nobody jumped on the 14$ sept contracts at his place so if,if we get timely rains and produce a plus 20 mil crop maybe 12 bucks might look pretty good come christmas.

[furrowtickler]

Carry over might be a burdensome factor next fall if something don’t change a lot in the next 6 months

[Crestliner]

Looks like we will break through $600 March 2024 tonight. The realists knew this was coming and are prepared.
It's not all that bad when you think about it....it only takes about 80,000 bushels of canola today to buy a new combine or an air drill or a tractor or a sprayer or a quarter of land in NE Sask....so if you need all 5 it's just 400,000 bushels of canola in today's price. That's if you get someone to give you the canola for free or all the inputs free.
I can totally see why some farmers think everything is just going to keep going up up up....
I think they call it monkey math!
I'm sorry I am being sarcastic....which is the same as the morons that thought the ag markets would be supportive forever to support the irrational exuberance of a drunken spending spree of many nonsensical farmers....I'm just tired of watching the repeat and enduring the time lost waiting for the shakeout and reset of productive asset prices back to profitability and all the lost time and opportunity while these guys get their proverbial asses handed back to them on a platter.
Ahh the Free Market can be such a bitch sometimes.
Looks like we are heading back to 1998....when the University Ag Economists put out the list of profitable crops and the ones that lost the least amount of money as a production guide. I think yellow mustard and caraway seed were the money makers that year! OMG

[makar]

1.30 to go.

[makar]

Broke 594.