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Mar 19, 2020 | 08:20 31 Bushel of grain worth more than a barrel of oil In Canada now?
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Mar 19, 2020 | 08:26 32
Quote Originally Posted by bucket View Post
Gas price locally after a tanker refilled on Tuesday. ..90.9 cents a liter posted...
That’s a rip off Reply With Quote
Mar 19, 2020 | 08:41 33 As usual policy makes a natural disaster and the collateral damage many times worse.
An oil glut/price war at the same time as consumption is going to dive. Nice Reply With Quote
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  • Mar 19, 2020 | 09:30 34 The U.S. could end the Saudis fun by cutting off military supplies. That won't happen because they own Trump. Reply With Quote
    Mar 19, 2020 | 09:35 35
    Quote Originally Posted by agstar77 View Post
    The U.S. could end the Saudis fun by cutting off military supplies. That won't happen because they own Trump.
    Canada could stop taking Saudi oil and end that contract for arm vehicles.
    What did Trudeau say about those armed vehicles again ? Oh ya , it’s a go
    But no barley sales there , but that’s ok 👎
    Last edited by furrowtickler; Mar 19, 2020 at 11:28.
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  • Mar 19, 2020 | 11:34 36
    Quote Originally Posted by furrowtickler View Post
    Canada could stop taking Saudi oil and end that contract for arm vehicles.
    What did Trudeau say about those armed vehicles again ? Oh ya , it’s a go
    But no barley sales there , but that’s ok 👎
    I don't have a problem with that. Reply With Quote
    Mar 19, 2020 | 12:04 37
    Quote Originally Posted by agstar77 View Post
    I don't have a problem with that.
    Good 👍
    We should worry about keeping our own house in order here in Canada . The whole Trump derangement syndrome getting old lol . Reply With Quote
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  • Mar 19, 2020 | 12:24 38 If we didn't live next door I would not worry about orange face. Reply With Quote
    Mar 19, 2020 | 12:50 39 A barrel of Western Cdn Select (WCS) oil hit a low of $7.84 per barrel U.S. within the last 24 hours . . . the cost of two (2) Chia teas (complete with a stopper). Reply With Quote
    Mar 19, 2020 | 12:59 40
    Quote Originally Posted by errolanderson View Post
    A barrel of Western Cdn Select (WCS) oil hit a low of $7.84 per barrel U.S. within the last 24 hours . . . the cost of two (2) Chia teas (complete with a stopper).
    Possibilities:
    1. Oil prices will rebound
    2. Tea prices are going to implode or tea will disappear from the market altogether.
    3. A black market for tea and oil will rise up with barter the means of exchange.

    Meanwhile the USD put in a 3 year high today. As long as tea drinkers have USD they'll be fine Reply With Quote
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  • Mar 19, 2020 | 15:21 41
    Quote Originally Posted by furrowtickler View Post
    Good 👍
    We should worry about keeping our own house in order here in Canada . The whole Trump derangement syndrome getting old lol .
    TSX has been pounded bad since the oil free fall due to Saudi/Russia spat and now the China Virus.
    CDN $ has lost close to a dime in last month. Very interesting how reliant our $ is on the energy sector and ironic that lefties HATE the energy industry. Reply With Quote
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  • Mar 20, 2020 | 08:22 42
    Quote Originally Posted by farming101 View Post
    Rack price today at Saskatoon is .513/l for diesel and .371 for gasoline. We have hit rock bottom on gas or very near to it
    Mar 20 rack price .497 diesel, .32 gasoline Reply With Quote
    Mar 20, 2020 | 09:14 43
    Quote Originally Posted by farming101 View Post
    Mar 20 rack price .497 diesel, .32 gasoline
    Would you call that good margins with 90 cent gas and 80 cent farm diesel? Reply With Quote
    Mar 20, 2020 | 09:20 44
    Quote Originally Posted by bucket View Post
    Would you call that good margins with 90 cent gas and 80 cent farm diesel?
    Bucket, can’t you get 65-70 cent (+GST) or lower diesel delivered now?

    I agree with your point about refinery making good margins. Reply With Quote
    Mar 22, 2020 | 09:09 45 Alberta bitumen prices may go to zero (0), even negative is possible . . . .

    With no sign of the global oil price war subsiding, supertanker rates have exploded as floating ocean storage with no port to head to. Apparently, 10 million barrel surplus daily is flooding into global markets. Super tanker storage capacity is said to be 1.8 billion barrels with about 800 tankers in-operation.

    Texas and Suffield natural gas spot prices went negative over the past five 5) years, in other words, the market pays you to haul it away. This situation may force Western Cdn Select (WCS) into a similar situation without any abatement in the Russia/ Saudi war. Reply With Quote
    Mar 28, 2020 | 09:02 46 Western Cdn Select now $4.56 per barrel . . . We are heading for negative . . . . Reply With Quote
    Mar 28, 2020 | 09:20 47 If our government’s were smart they should be putting money into more refineries and pipelines so we could be at least self sufficient. Would create jobs and use some of that $4.50 oil up so oil companies could survive. Reply With Quote
    Mar 28, 2020 | 09:26 48 oil getting shut-in at record clip.
    fearless prediction by year-end...

    wti oil-$75/bbl
    durum-$11/bus
    canola-$13/bus
    hrsw-$10/bus
    red lentils-35c/lb. Reply With Quote
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  • Mar 28, 2020 | 09:37 49 I don’t think oil will recover that fast. Reply With Quote
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    LEP

  • Mar 28, 2020 | 10:22 50 Never in my lifetime did I think that canadian crude oil would be as worthless as wheat. Reply With Quote
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  • Mar 28, 2020 | 11:22 51 Oil was over $100/barrel for quite a while. Maybe tables have turned and wheat will goto $100 a bushel? Dreamer, but crazy things happen in a crazy world - Vive la Prairie! Reply With Quote
    Mar 28, 2020 | 11:22 52 Going to be extremely hard to justify the supposed green energy projects with $5 oil. Reply With Quote
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  • Mar 28, 2020 | 11:34 53 Asphalt should be cheaper than shit, highways everywhere should be resurfaced !

    Believe me, I won't be a complainer,,, like the citizens of Regina were last summer. Bitching about streets being repaved. Reply With Quote
    Mar 28, 2020 | 11:56 54
    Quote Originally Posted by TASFarms View Post
    I don’t think oil will recover that fast.
    We are all in for a total structural reset of financial markets and value of commodities. But first, markets have to land-on-their-head-for the wake-up call. This train-wreck has been years in the making.

    Equity markets were so grossly overvalued, they can go a hell-of-a-lot-lower yet (IMO). Days of ‘nothin-to-it’ record bank profits are long gone.

    This will be a generational change in-attitude which will likely occur over the next decade. No instant fix and instant gratification. Reply With Quote
    Mar 28, 2020 | 12:45 55 The next step down in equities will be when governments start asking their citizens for another 14-21 days of self quarantine and closed shops. Reply With Quote
    Mar 28, 2020 | 13:08 56 I agree that we are in a "new world" with government debt exploding, however, I believe that after a few years of mediocre returns in the ag sector, that worm is turning as this situation also ignites food shortages for a number of reasons, and investors turn to agricultural commodities from and away from other equities. Reply With Quote
    Mar 28, 2020 | 20:53 57 I am actually quite surprised the Saudi's and Russian's didn't do this a long time ago, particularly when North America was figuring out how to drill and frac shale/tight sand formations containing oil. The US went from a significant oil importer to basically self sufficient from what I understand. That is an incredibly successful story. Amazing what high prices do...eventually create their own demise and result is return to low prices.

    Oil industry will come back again but not to the same degree as in the past, too much political/social pressure. Reply With Quote
    Mar 28, 2020 | 21:54 58
    Quote Originally Posted by canolacrazy View Post
    I agree that we are in a "new world" with government debt exploding, however, I believe that after a few years of mediocre returns in the ag sector, that worm is turning as this situation also ignites food shortages for a number of reasons, and investors turn to agricultural commodities from and away from other equities.
    You believe govt will allow us to keep it when every other sector is bleeding? Only those in politics will be keeping their wealth. Everything else will go to "the greater good"
    Last edited by macdon02; Mar 28, 2020 at 21:57.
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  • Mar 29, 2020 | 07:47 59 as erroll said we have moved from a time of relative low volatility to a crash. everything has now changed. no demand for oil, the world is ending as we know it. however when the Russians and Saudi's make an "arrangement", which they eventually will, and oil is shut-in world wide, the demand shock will be extreme. because the virus will subside, and people will get back to work. Reply With Quote
    Mar 29, 2020 | 08:25 60
    Quote Originally Posted by macdon02 View Post
    You believe govt will allow us to keep it when every other sector is bleeding? Only those in politics will be keeping their wealth. Everything else will go to "the greater good"
    Likely an export tax coming for Canadian grains? Reply With Quote