Processors gone to just in time?

[LEP]

I booked most of my canola for June at 11.03.

I think the situation in China and the eventual selling of Argentinian Soybeans will weigh on canola for awhile.

[Guest]

we've had a 20 cent premium target in for a while for march , no interest at richardson . sold some friday for $10.88 for june at another place , was $10.94 but dropped 6 cents while we were deciding

[Hamloc]

Currency devaluation creates the illusion that we are better off. From a par cad to USD to where we are now we have lost over 40% of our buying power, yes on paper we are making money but in reality we are going backwards, just the way it is.

[Guest]

thanks hamloc , that was the comparison i was trying to make with the $7.41 canola when i got compared to ritz i think .

[stonepicker]

Lol, low dollar hi dollar your getting 10.50 for your canola, low dollar is good for us right now, anyways if the deficit will take care of itself so will the low dollar. lol

[Rareearth]

Canola competes with soybeans and Palm, sunflower, and olive, heck flax as well if your try to talk market down.

Canola just happens to be unique enough that it has a market that's growing due to its quality and health attributes. Seems like there has been very good movement and shipping so far this year ( first 6 months). McDonald's and other manufactures need and like canola, when they or if they ever have to substitute we will then know when we are out of canola or the price is to high compared to alternatives. Also when crushers shut down or switch to soy then canola is too high or we are out of product. We have sold 1/2 and will analyze all information we can gather between now and June . Weather this spring, lack of snow, elnina, the market better bid up fall prices to stimulate acres or farmers will grow mustard, or lentils instead. We are the next country of production available, again in six months before Europe and Australia.
Canola is unique and special but can be substituted. If it's substituted what would the canola price be? Good question to self, I don't know.

[farmaholic]

Interesting how the specialty crops have been busy buying acres weeks ahead of when they normally start. I think end users know they have to ante up to ensure themselves a supply.
****en wheat!

[Rareearth]

We hear about the buying of acres every spring with cron vs soybeans. Yes it applies here as well and it's probably more important due to limited acres, production variables, and limited other country competition