Time to sell??

[agchat]

I know in the past few months, a few on here were saying if canola gets to $550 they are selling. WELL, I see with the plus basis from april till july at some points its over 550. Did we stick to our word??????????

[hobbyfrmr]

Wait for $9.80/bushel canola, then "pull the
trigger".

I know it's redundant and annoying but you would
be surprised how many farmers will not sell at
$12.00/ bushel.

Obviously there are farmers who have sell
orders/targets in place and they will get sold. The
big bad grain company will then secure a very
respectable volume they need, and naturally drop
their price to indicate they do not need any more.
Some farmers will sell after the initial drop
because they realize they will need some cash
flow. This will stimulate the big bad grain company
to drop the price some more in order to stop
farmer selling for rationing purposes.

Those 12.00 sell orders some farmers placed are
going to look very sweet, the sub $10.00 sales will
be rather sour.

[mcfarms]

12.65 July today with positive basis in our area, interesting that basis levels are not narrowing this week in the face of upward futures indicating that demand is staying strong from the enduser at these values?

[wd9]

Hobbyfrmr, unless you hedge with the
strong futures prices. If you take 9.50 in
this market, you are, well, just plain
dumb.

[Daylate]

where are positive basis's, or is it just at the crushers, locally here best is 0

[VK58]

southern Manitoba, high as $14/t in last 3 weeks, local Viterra

[BTO_farmall]

Vince I agree. Viagara, Caregail, Richiesons, Theys all Positive Basis. Personally I hope the bottom falls out of er' all. Hang alotta Sob's. Will take The Great Shine off The Gag Industry, Just what I ordered. Don't need all these Young Ones, Investors, Hutts, etc. thinkin theres money to be made in Farmin. Will gladly sell sub $6.00 Canola fer The Next 3 Years to get these Sob's outta here. This New Age Gag Industry costing me nothing but Money & Land. O' The Good Ole' Days when Everyone & Their Dog hated Farmin..........

[farmaholic]

PATIENCE-PATIENCE-PATIENCE- BTO, you need patients, then CASUALTIES, then you can have er all!!!!

[Hopperbin]

Well I got sold out today for march delivery kinda a nice month to clean out, so I suggest you all hold on for a better price. I guarantee prices will rise tomorrow. They always do after I sell, at least 50 percent of the time. Then again if prices rise I am still 0 sold on new crop so that is ok. I suppose I should say sorry to Wilagro for under cutting him on his canola sales and driving his market down.

[wd9]

Its a good move hopper! So is it options
or futures for the fall given the great
risk of drought? Or even is there downside
on this market?

[Hopperbin]

Not sure, seem to be on a wait and see mode. My view of marketting is it can change daily. Elevator agent calling me to make my N fert prebuy payment, so better take care of that. Actually I don't think there is near the sales made so far for new crop as compared to last year this time. I would like to get in on some Sept. delivery again worked nice last fall off the combine, have one close Viterra that works out and can get back to the combines in time. If can get sept. delivery then would like after new year del. Hoping to supply some higher priced feed wheat markets with soft wheat before new year or even durring harvest as also have a very close feed mill for that. They just have no prices yet, they are only buying less than a month ahead yet. Thinking the feed stocks are going to get extremely tight going into harvest as others farmers wait to see what they can get open market export prices.