Interest free cash advances on Canola

[ALLFARMER]

I am wondering how much I would be eligable for? Has anyone here gotten Canola Council advances. I am seeding between 300/600 acres of canola this yr. And am hoping to get a yield of 28bu/ac I will be going with full crop insurance coverage. Thanks

[winston]

More importatntly why would you want to store all of your canaola(and risk heating) and take an advance on it?

Why not deliver a large portion of it and buy back futures or options if you think the price will go up?

I remember hearing of people taking an advance, having the canola spoil and then having to sell their equipemt to repay the advance!

[henbent]

ALLFARMER, I spoke to crop insurance people last week, in our area they have no numbers yet, ie premiums. Apparently this week here in AB they are going to meetings to get the facts and numbers. Up to date information will likely begin flowing sometime next week after the meetings. Lots of us are anxious to here specifics, hope the rates don't skyrocket like everything else!

[ALLFARMER]

Winston The Canola Council advance is not for stored production. It is for insured crop acres. They are paid back when you sell your new crop canola or when crop insurance sends them a check directly after a clain. A would not be holding old crop canola right now either.