Canola Crushers are creaming their pants!

[boarderbloke]

over the period of the last month(Mar 25 - Apr 25), while the price of canola in the country has dropped over a $1.oo/bus, crush margins have increased $1.25/bus. so my question is, Have international veggie oil prices dropped (as it appears the crushers have just picked up the difference)? or have we once again been caught bent over!

[SASKFARMER3]

We have been caught bent over and they didn't even give us the oil for the pain.
Listen every night to the news all we here is how high grain prices are. Yes they are higher than last few years but have dropped by 1/6 in less than two months.
No one is telling that story. Still world is out of food or so close they are crossing their fingers hands and eyes that a big crop can be grown.

[charliep]

Reference is made to the board crush margin so I thought I should throw up where can be found.

http://www.copaonline.net/

Click on COPA Weekly.

Old crop is where margins have improved. New crop margins have stayed fairly flat.

Any comments on basis levels? My observation is the level of variability in basis reflecting how bad canola buyers want delivery.

Below is the Alberta cash prices/basis. Will be shifted under the July this week. Will note the graphing feature.

http://www.agric.gov.ab.ca/app21/grainprices

[charliep]

Would be interesting to know what percent crushers are forward priced with farmers using deferred delivery contracts? Crushers have been offering good prices to farmers all through the winter for spring/summer delivery and I would expect they are not booking a lot more old crop deliveries right now. July/August is also a time of maintenance shutdowns so they are less active.