Soybeans !

[boarderbloke]

up 45 cents/bus nearby, 41 cents NOV

Canola is a dog!

[farmaholic]

So my $11.60 target is too low?

[boarderbloke]

Are Canadian grown beans staying close in price, considering currency exchange and delivery location?

[boarderbloke]

NOV hitting $11.59 1/4USD. Was your target net CAD, or was that a futures price?

[Braveheart]

We just locked in $13 beans. Seems to be good demand.

Canola is sensitive to the CAD demand wise. But canola is an oil crop. Beans are a protein crop. Threats to bean production mean price has to rise to ration supply.

I'm wondering if this will pull feed wheat prices higher due to it's higher protein relative to corn?

[boarderbloke]

Brave, I was thinking that was why wheat has been rising the last couple weeks too. Also, seems to be concerns about protein levels in new crop winter wht.

To lock in $13, did you get an exceptional basis, or was it closer to average considering the $ exchange?

[Braveheart]

Just an average basis. It was Richardsons so likely poorer that average, in fact. Cargill was hitting $13 this morning as well.

[boarderbloke]

Congrats ! Guess I'll have to give them a go before I retire, Just not that excited to try something new while canola is still working here in our area. (other than keeping up to the $ exchange ratio)

[farmaholic]

The target I was referring to was what SF3 calls soybean's ugly step sister....canola target.

[Braveheart]

$11.60 new crop? Sounds like it should have hit. $11.60 old crop is a shade low IMO. Bins are getting swept clean.

Canola an ugly step sister? Ha! I'll take that sister to the ball any day. She tries on the glass slipper and it fits just fine.