canola pricing

[Guest]

canola up $9 , maybe somebody from stats can rubbed some of our late frozen swaths out ? this wasn't supposed to happen this quick ? all the experts told us going nowhere but down and fast !

[farmaholic]

What about all those sub $9.00 "specials"? Domestically, no more canola was grown in the last month.

[AgrivilleAdmin]

Canola and soybean futures prices rise.
Is the market oversold and turning? Here are the links to the prices and charts.

Canola up $9.....Soybeans up $.30/Bu

[URL="http://www.farms.com/markets/?page=quote&sym=RSX14&mode=i"][/URL]


<a href="http://www.farms.com/Markets/?&page=quote&sym=ZSX14&name=Soybeans&q uot;target="blank"> http://www.farms.com/Markets/?&page=quote&sym=ZSX14&name=Soybeans </a>

[Klause]

Bottoms in.


I've said this all along... whilst market is going down it will always go down and can only go down.

When it turns around and goes up, it will always go up and can only go up.

Both of those are complete and utter lies and all the big traders get caught up in it.

I had a call this morning about wheat... apparently my #3 "frosted" wheat as they call it can now be bought as a 2 and they want it for a "special"... um yeah, no. If it's under 6 bucks don't even talk to me.

[charliep]

Interesting that canola broke $410/tonne resistance. A stronger signal would be to push to the next resistance which in my mind is $430/tonne and then test $410/tonne with this time it holding/providing a support area. Not a very good technician but this would begin to look like a double bottom. Not a bull yet but I suspect some signs that the market is bottoming/finding a floor.

[bucket]

Charliep

You sort of have to know if you are mentoring people?

Or is like being a weatherman?

[farmgal71]

It is hardly a science bucket.

If Charlie knew what was going to happen, I expect he would own his own island in the southseas and not be trying to help us figure out what to do.

Thanks for your perspective Charlie, we find it helpful.

[bucket]

It might have more to do with the fact that elevators can't fill the next train of canola.

The durum run is almost done. No one is staging a wheat train yet. Not much else to do and the gig might be up that elevators are technically empty.

The railways know it. Farmers know it because they haven't been doing much late harvest and all.

Now the market experts have to figure it out.

That conversation on the other thread should be giving charliep alot of clues as to WTF isn't happening out on the farm.

Not alot of grain has been harvested for over a week now.

Reports are coming in that the railways can't get the grain to move because the system is far from being full. Read the front page of the producer.

[MBgrower]

I thought the graincos were sold out to november as they were claiming last spring, and thus the shitty new crop basis they were showing at the time. I guess they figured they could buy the mountains of farm carryover stocks at continued -$2.50 basis thru 2014-15. Looks like richardson, paterson and parrish famlies need a new strategy.

[bucket]

The new strategy is the zero basis. Up until now the fx has been in the basis I was told. Zero basis no fx, usd direct to cdn dollars. 75 cents a bushel. Easy money for the "families" some people here defend.

[cottonpicken]

Today was an across the board up day,no amount of supply/demand number crunching can explain it.

Whats the paper trade compared to the physical trade,20x maybe?Have looked hard but have never been able to find it.

[golden1]

Hauled grain to vitera moosejaw all last week,drove right up to the squack box almost every load. No 1/2 mile line ups like normaly this time of year.Sask ag says we are 70% done harvest.Now either guys are so rich they have locked the bin doors or the big crop sask ag and others were forcasting is not out there.I think I know were the truth lies.

[bucket]

Golden1

What were they taking in moose jaw last week?

Last time I was there it was an 1 1/2 hour wait.

[bucket]

There are lots of shiny snow fences been built in the last 6 months.

Guys like storage. And graincos love it because they save themselves a shit load of money when farmers build for one turn every 2 years.

They know where it is, why bid for it?

Just ask the cwb. They have been asked about condo space. Cheaper for farmers to build it they say even if farmers are paying for it either way.

[golden1]

bucket,hauled rsw but saw canola, lentils durum, and peas in pits.