Sept/Oct Canola Starts with a 12

[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.

[Old Cowzilla]

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

Guys are hauling like a bugger around here don't think there will be a carry over bins will be going ting ting ting !

[makar]

Guys are hauling like a bugger around here don't think there will be a carry over bins will be going ting ting ting !

Nothing being hauled here since before harvest.

[ajl]

Last year the oat market was similar. Prices were under $4 all winter. Planned to just carry over my bin of oats. Then oat prices hit as high as 5.25 in the beginning of Sept. Sold that bins of oats between the middle of Aug and the beginning of Sept. Filled the bin with canola. Repeat process.

[fjlip]

Enough are selling/delivering, crushers filled and going...

[makar]

Hauled barley all day never seen another truck, only pea crumbs on the scale.