Canola prices

[farmaholic]

Canola prices have come up for future delivery months. They're about $10.40 in this neck of the woods for June/July. Nice to see it but can it hold or even go higher.

COPA crush margins are tighter than a year ago at this time. Under $50/ mt

How much has already been shipped?

How much is in commercial hands?

[SASKFARMER3]

Lots of the close months have inventory that has to come in. Booked solid. May is short but were all seeding. Can the USA pull a miracle again and same with South America for 2015. Its looks dry from 30000 ft. up all way from foothills to Regina.
So we will have 20 mill acres I think not. But probably might by some acreage. Newbies beware. Three hot days in July with Normal precipitation at flowering can give a whopping 27 bushel crop in a matter of days. Get 6 hot days with wind out of the SW and 12 to 15. Oh I know the New super seeds are better. Gasp. That's me choking on my own vomit. This is reality of growing the super crop. Normal conditions not 20 inch of rain or rain at exactly the right time. The pattern has changed and time will tell if it stays but I still think were back to normal in Western Canada.
Ah farming where maybe Canola has a place but so does Durum and Lentils and peas in the right regions. I have done my part and quit growing durum in the East central.

[farmaholic]

Gross. (No basis deducted):
Mar 15; 472/mt---$10.70/bu
July 15; 463.3/mt ---$10.50/bu

What is port price?

[farming101]

ICE Vancouver cash prices are around 508. The increase in port prices has tracked the drop in the Canadian dollar very closely.

[bucket]

508 to a prairie price of 440 (10 bucks a bushel).

Is that a reasonable spread or basis ?

I think canola has its pricing based at saskatoon.

The only cost would be freight elevation inspection and demurrage?

Would think canola moves quickly through west coast terminals?

[farmaholic]

Too much canola get sold at $10(or sub) for this topic to be relevant?

I let 20% go at $10 for summer delivery...