Canola Futures

[agstar77]

On the rise again at 637for Mar. CP lookin good.

[Hopperbin]

Typical. I sold 50 ton this morning 45 minutes ago and it has not stopped rising.

[agstar77]

My local Viagra rep expects 700 a ton. Canola and soybeans are relatively cheap to wheat. Also oats really haven't taken off.

[AdamSmith]

Yeah, I priced 80t on Tues. but hey it was in the pit and I needed the cash to pay off my 07 Viterra Account.

But I locked in a $25 basis (Cargill SW MB)for June Delivery on my final 200t at the same time as well.

Should I price today at 665-25=$640 or $14.52/bu in my jeans come June?

My little internal instinct tells me to wait and see.

But crap, that's $14 and a half bucks.

Oh well the way I see it, if I wait and it goes higher I'll make a great profit. But if it goes $3 bucks lower, I'll still make a great profit.

This is much better than negotiating the tightrope between profit and loss.

Also I just starting to contemplate new crop sales.

Using a base of below 50% of my 5yr avg. yield was thinking of selling 50% of that for Aug or Sep delivery and then spreading out the rest between a Nov. delivery, and a Jan-Feb Delivery.

OR I THIS THING GOING TO $20 BUCKS A BUSHEL AS WELL?

I don't think anyone can know anything for sure. But it's a damn fun experience anyways.

[cottonpicken]

Fund manager ed:damit i cant believe i missed this commoditie thing and my yield is -2%.

Assistant joe:maybe we should buy some commodities.

Fund manager ed:like what?everything has alreday moved.Gold is over its high,oil is over it high,base metals,wheat.I mean whats left, maybe we should buy some florida relastate?

Assistant joe:so sire,were not buying relastate.How bought canola?

Fund manager ed:Whats a canola?

Assistant joe:its a commoditie that peolpe use.And it really hasnt moved up in price compared to its old highs and inflation.

Fund manager ed:great buy me 75 billion worth of canolas.

Assistant joe:you cant sire.

Fund manager ed:what do you mean i cant.

Assistant joe:Theres not that much to buy.

[cottonpicken]

The canola and oats charts look beautiful to me.

[agstar77]

Canola cash 13.97 , sell unit at 14 .

[agstar77]

Scary, moved over 14 .

[boarderbloke]

agstar77, where are you, and whats the rail freight typically for canola?

[bucket]

$14.00 march dropped in the pit at reed lake pioneer near herbert sask.

This is such a volatile market - maybe everyone should suspend contracts on canola. Just a little jab at all you pro-cwb folks. Some guys will take it. I know I should let a little go. But I am a pig. China's crop is a mess and I think there a little steam left in this bull.

[mcfarms]

Canbra Lethbridge 15.15 July with the nice little 1 under basis they had out a couple weeks back.
( I put a GPO in for 1000 a tonne for a lark on the remainder unpriced here.)
A super B of Canola is close to 30000 now, Is Saskfarmer still in Mexico??

[cottonpicken]

When canola broke 464,that was our breakout.

The next target is 774.

We are at 645.

We are well over half way there.

Scroll down this was all posted.

Once 774 ish gets taken out...drum roll please....1200 ish.

And then i will tell you to sell and then Tom will tell me it is suicide to be bearish in this this bull market..............while spring wheat is single digit.

[agstar77]

Interesting to note that commodity funds bought 6000 soybean contracts in Chicago today ADM bought only 1000. Underscores the commodity funds importance in determining commodity prices.

[furrowtickler]

Agstar, I think you may be right on canola - To bad we can not capture the full value of our hrs wheat, aprox 50% left.

[cottonpicken]

Wouldnt 20 days of limit up be nice to see.