Markets today ?

[furrowtickler]

What's the deal today ?
I thought it was all doom and gloom

[bucket]

Two things...

1. The rfs standard in the US.

2. Brazil can't ship ....500 trucks stuck in a 50 mile stretch of dirt road highway.....

[bigzee]

Cargill has a Apr basis special of $18.89 under, it's regular one is $31.89, I locked it in.

[tweety]

Two things...

1. The rfs standard in the US.

2. Brazil can't ship ....500 trucks stuck in a 50 mile stretch of dirt road highway.....

2. That's just a normal day in Brazil

[farmaholic]

Bigzee,

So now they know its coming up the driveway......how aggressive do they need to be on the futures market? I realize they're only one company but I think it matters. Anyone else?

[tweety]

Cargill has a Apr basis special of $18.89 under, it's regular one is $31.89, I locked it in.

Never understood why locking in a basis and then being forced to use it on a crap price makes much business sense. How exactly is this risk management?

And firstly, apologize its a marketing question!

[bigzee]

When I see extra profit I take it. Canola has struggled for a month and when something like this pops up, I'm not going to sit on the sidelines.
So what everyone is saying just because the price has rallied nicely so far today no one is going to sell?

[SASKFARMER3]

Good basis probably best this year gives you 11.30 or better not bad off the combine was 9.40 pays to wait

[farming101]

A nice positive correction but as of today it doesn't change a thing.
May canola bounced off a retracement line but needs to take out 540
A good day to take a cookie
Basis changes signal demand. Not good to ignore demand

[Partners]

RP in yorkton at 12.00 for June.

[tmyrfield]

For me the hardest part of marketing is the separation of basis and futures. Often the two seem to go hand in hand but sometimes they go opposite. One has to remember that the basis is the signal of how badly the grain buyers want your grain. So generally speaking the basis is better the further out you go or if the delivery period is at an inconvenient time for farmers to deliver like seeding or harvest. The futures are set by all the players in the market which includes "the funds". The funds do not want to take delivery, they just want to make a profit on the moves of the grain market, up or down. The grain buyers will give you an incentive with a good basis and the funds will give you an opportunity to get your price with volatility in the market. Shopping around for the best basis and then putting on and KEEPING ON target prices ensures you get your sales at your levels. Waiting till you absolutely need cash and then making sales really only helps the grain companies because they then are able to buy your grain more cheaply with a poor basis. Marketing discipline and consistency in my opinion is the most important and toughest job of being a farmer.

[farming101]

$12 June excellent. Target hit or posted price?

[Partners]

Posted price..They have a $10 premium on till noon also...

[farmaholic]

I wish I was within a reasonable trucking distance of the crushers....

101...tell the GrainCos not to ignore demand....I demand. $12/bu.

[wmoebis]

I wish I was within a reasonable trucking distance of the crushers....

101...tell the GrainCos not to ignore demand....I demand. $12/bu.

Rail freight cheaper than trucking. Be nice to load rail car close to home and ship to crusher.