Dear Charlie,
When I read an article like the one following... I truly wonder how stupid the CWB managers think we are...
"Cash Talk: Good Canola Basis Levels Available, Prices Hit $10
By Resource News International
WINNIPEG, May 1 - Prices for canola have risen above the key
C$10 a bushel mark in parts of western Canada and sources are
also reporting attractive basis levels.
As of April 30, bids for canola (delivered to elevator)
ranged from $9.02 to $10.02 a bushel in Saskatchewan, from $9.20
to $9.68 a bushel in Manitoba and from $9.78 to $10.11 a bushel
in Alberta.
Those prices are anywhere from 41 to 69 cents a bushel
higher compared to month-ago levels.
In the Calgary, Alberta area, basis levels of $5.00 a metric
tonne over the futures price for June delivery are available,
according to a market analyst.
Commercial buyers are looking to get canola in order to meet
their sale obligations and as a result there are still some very
good offers out there, he said.
The good prices and basis levels may not only hold for a
while, they may actually improve, the analyst added.
"Markets have been fairly solid, canola futures have been
going up and the farmer's focus right now is in the fields. I
think we may potentially see things improving still just because
commercials will have to keep ramping up their offers until they
are able to attract enough farmer interest," he said.
A grain and oilseed broker from the Edmonton area said
canola bids in his area were around the $10.10 to $10.15 a bushel
mark.
He agreed that insufficient farmer deliveries into the
commercial pipeline were behind the improvement in the canola
cash market.
"Farmers are not going to want to deliver right now or once
they really get into spring work either. The grain companies know
that and they're trying to get what they can because attracting
supplies is not going to get any easier in the next few weeks,"
the broker said.
END"
So how does the CWB get more wheat in the ground to meet sales?
How does the CWB bring in supply because they are short at a certain port?
Pay the railway to haul it back thousands of miles?
SO who do folks think pays for the wheat to sit in the eastern ports... so the railway can haul it back to the west coast?
ONLY in CANADA!
When I read an article like the one following... I truly wonder how stupid the CWB managers think we are...
"Cash Talk: Good Canola Basis Levels Available, Prices Hit $10
By Resource News International
WINNIPEG, May 1 - Prices for canola have risen above the key
C$10 a bushel mark in parts of western Canada and sources are
also reporting attractive basis levels.
As of April 30, bids for canola (delivered to elevator)
ranged from $9.02 to $10.02 a bushel in Saskatchewan, from $9.20
to $9.68 a bushel in Manitoba and from $9.78 to $10.11 a bushel
in Alberta.
Those prices are anywhere from 41 to 69 cents a bushel
higher compared to month-ago levels.
In the Calgary, Alberta area, basis levels of $5.00 a metric
tonne over the futures price for June delivery are available,
according to a market analyst.
Commercial buyers are looking to get canola in order to meet
their sale obligations and as a result there are still some very
good offers out there, he said.
The good prices and basis levels may not only hold for a
while, they may actually improve, the analyst added.
"Markets have been fairly solid, canola futures have been
going up and the farmer's focus right now is in the fields. I
think we may potentially see things improving still just because
commercials will have to keep ramping up their offers until they
are able to attract enough farmer interest," he said.
A grain and oilseed broker from the Edmonton area said
canola bids in his area were around the $10.10 to $10.15 a bushel
mark.
He agreed that insufficient farmer deliveries into the
commercial pipeline were behind the improvement in the canola
cash market.
"Farmers are not going to want to deliver right now or once
they really get into spring work either. The grain companies know
that and they're trying to get what they can because attracting
supplies is not going to get any easier in the next few weeks,"
the broker said.
END"
So how does the CWB get more wheat in the ground to meet sales?
How does the CWB bring in supply because they are short at a certain port?
Pay the railway to haul it back thousands of miles?
SO who do folks think pays for the wheat to sit in the eastern ports... so the railway can haul it back to the west coast?
ONLY in CANADA!