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October Canola contract -32 basis

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  • goalieguy847
    Senior Member
    • Jun 2017
    • 701
    #1

    October Canola contract -32 basis

    Anyone want to move some canola into Bunge FORT SASKATCHEWAN October 2026? Have a contract and not sure i can fill ( like alot of us up here).
    Its a -32 basis ( not bad for october) and is unpriced. Bit frustrating as its been a month and they still havent given me a buyout cost if i need to.
    have basically up to 440 mT to fill.


    If priced today would be....$17.20/ bushel.


    Feel free to msg me if anyone is interested. Otherwise ill just buyout some of it.

    Tags: None
    • blackpowder
      Senior Member
      • Feb 2010
      • 9378
      #2
      This is what Aville should have more of. Real farming stuff.
      They should be able to provide a buyout cost on a daily level.
      I'd be more than frustrated. Especially with futures gyrating like they do.
      Makes it harder to insure with hedges too.
      Let us know how you make out. I'd be pissed.

        Comment

        • goalieguy847
          Senior Member
          • Jun 2017
          • 701
          #3
          Well. The frustrating part is its UNPRICED. They refuse to run a special online ( i even told them to slam some extra bucks on and ill pay it) . I started this convo 28 days ago and nothing.
            😡 1

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            • jdepape
              Senior Member
              • Oct 2010
              • 709
              #4
              Their online bid for Oct delivery is -40. If they're buying any there, they could replace yours $8/tonne better. Rationally, they should be willing to pay you $8/tonne to cancel the contract. Even if they charge you an "admin fee" of say $5/tonne, you'd still be ahead by $3. At a bare minimum, they should be willing to just cancel the contract. If they tell you the -40 isn't really the market, then press them to publish what they think the real market is; you deserve to know.
                👍 2

                Comment

                • jdepape
                  Senior Member
                  • Oct 2010
                  • 709
                  #5
                  Originally posted by goalieguy847 View Post
                  Well. The frustrating part is its UNPRICED. They refuse to run a special online ( i even told them to slam some extra bucks on and ill pay it) . I started this convo 28 days ago and nothing.
                  The fact that its unpriced is in your favour. Less risk / volatility. This should be a no brainer for them. The fact that they aren't doing anything suggests they see a bigger problem out there than just yours. And it tells me that their view of the "market" is north of your -32. Think about it - if they felt they could get everything they needed at -40, they would be happy - even eager - to cancel your contract.
                    👍 1

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