$7.50 canola

[vvalk]

With the exchange we are selling $7.50 canola? Wonder where the other $2-$3 is?

[TOM4CWB]

VVALK
We are Selling Canola at $12.25 for off the Combine 2016 delivery... not sure what you mean?

[vvalk]

$10.50 canola which is what the price is today is around $7.50 US dollars. Not sure why that math is complicated. Most trade or at the very least the competing products are all sold in US dollars. Also why do you use nexera premiums for late crop year 2016 delivery as a comparison?

[TOM4CWB]

VVALK...

Fall 2016... /basis/futures Nov. $12.25... if you want to sell your Canola at a cheap price... have at it... your choice.

$12.25 today for next fall delivery...is a very long way from $7.50.

[biglentil]

some of us do not want to store it that long Tom

[tweety]

Store it? He hasn't grown it yet. Doesn't really make sense in this discussion now does it Tom?

[Rareearth]

What is the current spot price and November or new crop price offered to growers in France, Pakistan, Australia?

[tstep]

10.50 canola Canadian money. I could give a rats ass what it's worth in the US. 12.00 next fall...jump on that. Yellow peas are 9.66 off combine for next October.

[Guest]

vvalk is trying to point out that 10.50 CAD is $7.50 USD.

Soybeans are priced around $8.70 USD right now so following that Canola should be at least $12 CAD.

$7.50 doesn't cut it when all our inputs and most machinery are USD based.

What the price is next fall is irrelevant.

[AlbertaFarmer5]

And to add insult to injury, Soy oil, and vegetable oils are relatively stronger than meal right now, so Canola should almost be getting back to a premium over soys, not a discount. Anyone know what Canola is worth south of the border, or does it end up reflecting our price due to the relative size of the two markets?

[ajl]

You do realize that the Bank of Canada engineered a bailout of commodity producers: farmer, oil, miners. etc by cutting interest rates twice which drops the currency thus stealing from savers again this year. The $7.50 US canola and soaring machinery prices are just a consequence of that policy. They are going to cut interest again in Jan as Canuckistan is headed into depression and there is nothing that can be done about it.

[Klause]

Where's this 12.25 canola? Futures aren't even close to that....

[riders2010]

That might be a pound someone is selling own seed? Lol

[TOM4CWB]

Klause;

Nexera Fall 2016... new varieties are great!

[farming101]

A little while ago Mallee said Aussie port prices were at 530. Works out to 11.86 CAD, I think.
Backed off to Sask about the same I'm guessing.
Farmers are moving canola. Yields for many were surprisingly good. Per acre returns are showing a profit. Bins are heating. All kinds of reasons to keep it moving.