Huge canola crop

[hobbyfrmr]

I agree with GustG. The prices have profit in
them. Sell something. The shaky world
economics, or a few bushels yield over
expectations will dissolve prices real quick.
Industry just hates to pay farmers profitable
prices. It takes away from their profits and that
won't happen for long.
I am bullish but 21 years of farming has turned me
into a jaded, skeptical, small thinker. Exactly what
I said I would not be when I started!!!

[SASKFARMER3]

Ive got my fall sales in place for canola,
HRS and Peas. Dump in pit and gone. Peas
were really tough yesterday and now lots
of Ducks and Geese. A machine gun would be
nice. Cleaned of 30 acres on one field.

[ColevilleH2S]

Gustgd. Good point on the Globe and Mail and CBC.

When the Butcher, the Baker, and the Candlestick Maker, are all talking commodities up, it's time to get out.

[errolanderson]

wd9 . . . do you think the Chinese care?

[crusher]

Errol,

I don't have the numbers in front of me, but what has China's purchasing pattern of canola over the last 24 months been?

[charliep]

You asked Errol but I looked at the CGC Exports of Canadian Grain and Flour.

In 2009/10, China bought about 1.1 MMT of canola by the end of December versus a total program of 2.9 MMT that year.

In 2011/12, China only bought 400,000 tonnes in the first 5 months of the crop year versus total imports of 2 MMT.

In the current crop year, China had bought 950,000 tonnes versus 2.5 MMT to the end of June (July still not released).

[charliep]

OOps. The 3rd paragraph refers to 2010/11.

[rhoff]

Anyone notice soybean exports above
expectations. Demand destruction hasn't even
begun in soybeans.

[Hopperbin]

In response to Errol's statement I think they do care. While I was in China I asked why do you prefer to buy Canola oil in Sichuan Province and the answer was they are accusomed to the taste so there is some sort of preference to keep using what they are using. They produce ****seed there and that is what they consume for cooking oil and they pour the shit on heavy. Other parts of China do use different concoctions of cooking oil as per their tastes. Don't think healthy oil comes into play there as most get a lot of excercise riding bike to work, working hard etc.

[furrowtickler]

Ya , agree. Times are changing. Even the Chinese realize you can not eat bacon every day. I am sorry but average Chinese is more educated than the average North American. The pandoras box is keeping it affordable.