7.50 new crop canola

[Braveheart]

Patience with new crop. Acres unknown. Weather is always interesting.

With intended acres already high and adequate moisture to start crops, I don't see downside futures risk. Fx unlikely to change much as well.

Basis deals are likely gone until new business gets put on the books. So, if a strong basis wasn't locked in that's the biggest risk being faced.

Patience.

[GOODRUM]

Stonepicker. Historically good prices HA!
Buying power of a bushel of canola has never been worse. But if you want to guarantee half your production to the graincos at these prices go for it.

[macdon02]

It might be 7.50 but they got some dandy insurance on it. Talk is canola has best return for 15 if just going by insurance guarantee. Seed sales are supposed to be very good.

[macdon02]

It might be 7.50 but they got some dandy insurance on it. Talk is canola has best return for 15 if just going by insurance guarantee. Seed sales are supposed to be very good.

[Guest]

we're not seeing much yield reduction with 1012 nexera ? last year it outyielded all of it . just to bad it grows so much straw . I agree signing up much regular canola under $10 is a recipe for disaster , giving the pricks exactly what they need ! do the arithmetic on cost of inputs and at 40 bpa , you done a whole lotta work for nothing , not to mention the risk you are taking . good time to leave regular canola in the bag

[hobbyfrmr]

This is not much help, but talking to a 75 year old guy with about 3000 owned acres claims in 1974 he was selling canola for $10.00/bushel. He got pretty cranky when i told him he had to be more efficient and grow more volume.
This old guy knows his stuff but usually presents it it a whining manner which is too bad because it doesnt take long for others to start tuning out. Basically his summary is similar to here on AV. Not all is well around here. We have some very highly efficient big yeild farmers and I dont hear them saying too much either way.