Some parts of the Peace had -2/-3 a month ago. Canola yields lost about 10-20% in affected areas.
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Nothing moving here for a few days yet - that 8/10 of rain two nights ago did us in for a while now.
Local elevators will be looking hard for canola over the next few days - trains still coming . Also they are unable to source as much as 4o% of the local canola due to clever and anouther at least 30% that was reseeded and will not be ready for a while yet and there will be quality issues with prob 1/2 of that. Gona make things interesting going forward on the canola side.
I think the buyers are going to have actually step up and try to buy good grains and oilseeds for the first time in many years instead of taking it
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I doubt it. The reseeded canola is teriffic and wil yeild high. Agreed there will be issues with the frost and quality, all the more reason to impose discounts. Large volume=adequate supply=discount.
Late seeded = frost and chlorophyl/grade issues=discount.
Plus we dont know what the US soybean harvest ending inventory is yet. If it is near trendline yeilds, that will be another reason (substitiute) .
Plus the fact that all the line companies know that farmers plant up to 44% of their farms in canola . They depend on canola to make cash flow. So its kind of easy pickings for them at harvest time
I Hope Im wrong.
Dont shoot the messenger!
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You have a few good points - I won't shoot .
Overall - canola yields in this area will be down 20%.
Some early canola not effected by the spring frost was down almost 50% on yield.
Also remember some local elevators are not accepting canola sprayed with clever - that leaves a big chunk out they can't touch.
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