fall 09 canola contracts unavailable

[BreadWinner]

Some companies ADM, Pinoneer have decided to stop offering fall of 09 and some 08 contracts due to market volitility. They blame it on dried up sales at this level and the risk is too high for their companies. Still locked in $14.76 for Sept 09 today at Bunge but who knows when they will shut off their contracts as well.

[Hopperbin]

Soy oil took a little dip, but it is up
1 3/4% in early over night trading.

[Kodiak]

Bunge has widened even their new crop basis levels by $50/MT. I can understand why that might be necessary in a volatile market. Let's just hope once the futures settle down, they return to something more reasonable. Otherwise they will be gouging. Crush margins are VERY GOOD right now, and there is no reason for a wide basis other than to provide a cushion for executing their hedges.

Why wouldn't they just go to a system where sales are priced against the futures price they can get? That would keep the basis and their crush reasonable and allow the farmer to set targets and have a reasonable chance for getting a good price. The way they are doing it, there is no chance to price a sale well.

[ricochet]

i thought u guys on this site were for open markets, now your whining because you think open markets are not treating you fair! cant havehttps://www.agriville.com/images/forum/icon5.gif
https://www.agriville.com/images/forum/icon5.gif er both ways