Bipolar Markets.

[errolanderson]

Happy . . . you are right , canola demand has been superb . . . .

The recent plunge in canola through has been result of a drop in this demand, more aggressive grower pricing technical selling and an overbought U.S. soy complex.

(IMO), Brexit of no Brexit, there was a financial correction coming. Global economics are extremely out-of-balance. Japanese 20 year bond yields are now threatening to go negative . . . insane global economics with no end game in-sight.

Our canola market ahead may represent a blend of strained global economics impacting prices and demand for canola. Given the sharp plunge in ICE canola it suggests it may be next year country now despite amazing demand and low ending stocks.

An opinion for what its worth . . . .

[farming101]

Wheat market flopping...no flipping at all

Sold some so-so soft white to the feedlot for the same price as #2 13. Oh boy.

[farmaholic]

Captain101, take the handling/elevation and freight and add it to the #2 price. Those costs are more than hauling the feed wheat to the feedlot. I'm not making excuses and don't like how cheap milling wheat is either! Weber has a port price in one of his newsletters. Backed off to my location, the basis is somewhat similar to pre-open market deductions. That being said...I would have hoped it would have come down...yeah I know---delusional!

Good thing I sold a bunch of grains when I did....some grains sure took an ugly turn down. I didn't think gravity could affect grain prices.

[boarderbloke]

Fools,,,the price of canola and crushed oil didn't go down, simply the crush margins went up!

Have a look at what they were on June 14th, then have a look at where they were yesterday, $38.00/t difference.

[URL=http://futures.tradingcharts.com/news/futures/ICE_Canadian_Canola_Board_Margin_Index_Close_25363 2835.html]June 14th[/URL]

[URL=http://futures.tradingcharts.com/news/futures/ICE_Canadian_Canola_Board_Margin_Index_Close_25437 8453.html]June 27th[/URL]

I'd say we're getting royally screwed, but the truth is we're royally screwing our selves.