Cash canola/old crop up $20/t this morning

[boarderbloke]

Don't let the grain co. get away with using the NOV, for July sales. Your Target prices for July should be using the cash market for any old crop July sales.

[PrairieDude]

July is irrelevant for your cash sales. There is not a single crusher or grain company that will use July.

[rook]

apparently one should start using basis contracts based off july futures to take advantage of these blips

[PrairieDude]

Most basis roll dates are middle of June. Would be off November at that time.

[ajl]

Short squeeze time. Irrelevant for pricing actual production but fun to watch.

[errolanderson]

agree July is now irrelevant, but flood is definitely bullish the new crop canola basis.

[Hopperbin]

At least the 5 basis at louis dreyfus yorkton was not just a farm progress show blip. Aug -5 sept -15 oct -5 nov dec -10 jan -5

[Hopperbin]

July has been holding at plus 5

[HappyFarmer]

Once they start showing in the 20's I might start getting interested. 5 under is still way to wide in the crush capital of Yorkton.

[Hopperbin]

Happy hard to say plus basis 20 or higher futures. I am beginning to think futures price has nothing to do with farm price. The futures And exchange price is failing me. Me the farmer.

[HappyFarmer]

I don't know. Even if they do go higher I can't see why we couldn't be in the 20's. We are at 5 over now on old crop with 3 million tonne carry out. Can't see how we would be even close to that number next year.

[HappyFarmer]

Hopper do you think there is a bunch of uncommitted tonnes of canola in your corner of the world still? Or has most of it been sold?

[Hopperbin]

Its all sold or heated. My opi ion