Canola Prices

[tweety]

Bucket. Those guys had weeks to sell them off with minimal cost.

[iceman]

Cotton nailed it

Out

[bucket]

Weeks ago it still looked like a crop with rain in the forecast.

[TOM4CWB]

Tweety,
And we know how often weather forecasters are right... if they predict dry for 10 days... I bet they are WRONG more often than right.
But with the upperridge...(that Dew predicted) this time they might be right... I sure wouldn't bet on big rain this year.
Cheers!!!

[Guest]

bucket , I sure do like the way you get right to the point ! and don't beat around the bush

[farmaholic]

How soon will the Grain Buyers flip to Nov now? Geeze, think they will before they have to? But then they have the infamous basis to make all "right" again!!!

[Guest]

farmaholic, doesn't matter wtf they do this time , it's payback time . let them snivel

[farmaholic]

I can hardly wait to hear the "chicken counters" as this crop progresses (now that phrase, "crop progresses" does not equate on our farm).
Frost
Reseeding
Bugs
Drought
equals how many acres harvested at what average yield. I wish I was in an area that is going to grow a decent crop this year!!

Let the chicken counting(others counting your chickens before they hatch) begin...

[Oliver88]

Ouch.

If that DTN report is correct with 35-40C temperatures in the next 5 days part of the prairies.........call option?

[ado089]

July options expire tomorrow. They will start pricing off November then.

[Hamloc]

Charlie why with the present weather outlook and daily reduction in yields due to dryness would I consider selling any future production? I think your input on future pricing is great but as our crops start to sizzle like a cracked egg on hot pavement what the price limitations are in canola are a bit secondary. This year I probably won't price a bushel until it is in the bin.

[freewheat]

Hamloc. But wait. Soy is going to limit price increases on canola...

[Guest]

good one free, lol

[charliep]

Just testing the water to find out how bullish you guys are. I think everyone here realizes prices are kind of irrelevant if you don't have a crop to sell. If you do feel you have crop to sell, pay attention even if you are not pricing.

Hopefully everyone here is paying attention to prices. I will note that MGEX wheat is pushing towards $6/bu again which has been resistance. Do you buys puts/sell futures or whatever? Your choice based on your marketing plan/potential crop production. I suspect (been wrong many times) that this is a market that will put in summer highs and then taper off. Don't when those highs will occur but a reason to follow markets/do your technical analysis of the charts. Nothing wrong with selling portions of the crop size you are comfortable with on the way up. Nothing wrong with buying puts. Your crop/your choice.

[charliep]

freewheat

I suspect we both realize that soybeans crossed over $10/bu on the nearby with new crop up as well. Most of the canola gain was supported by soybeans/soymeal. Acres that didn't get planted. Too wet some areas in the US. Yada yada yada.

Lots of soybeans out there. Tuesday is USDA planted acreage estimate day. Place your bets/take your chances in the poker game you guys love to play.