Canola left in bins

[Guest]

Anyone else noticing there is a lot of interest in the little bit of canola left in bins ? Getting lots of calls saying good time to sell as price will go down , watch out for usda report , Malaysian Palm oil , soybeans , lol! Two elevators here have $11 immediate delivery . What's everyone thinking ?

[HappyFarmer]

Agreed. Lots of interest. It's been a long month with little buying. Seeing bids up to 0 off July June July move.

Heavy spreading on the board with funds rolling their short to the July. Hoping for more of a bounce, but thinking futures highs are behind us without a weather event.

[furrowtickler]

Can't move a wheel here anyway - road bans

[biglentil]

Anyone else noticing there is a lot of interest in the little bit of canola left in bins ? Getting lots of calls saying good time to sell as price will go down , watch out for usda report , Malaysian Palm oil , soybeans , lol! Two elevators here have $11 immediate delivery . What's everyone thinking ?

I think its a sell record acres of canola, record acres of soybeans, recovery of palm oil stocks. Good moisture generally. $11 ain't terrible the closer we get to harvest the more they will want to wait.

[farmaholic]

Whistle, whistle, whistle, whistle, whistle, whistle..............

[crusher]

I got a sexy bid yesterday for immediate movement. I think I'll let some go.

[Kinger]

Hard to say what the market will do. Elevators right now are trying to figure out what they are going to ship May/June/July and right now it looks like they are hungry for canola.

Been hearing $20/mt swings in basis as of late. Wouldn't be a bad idea to get some locked in and put some targets on futures.

Traders see lots of downside in beans but canola they lean more bullish(up).

[farming101]

Will the current year trend continue?

[farmaholic]

Now wouldn't that depend on what is marketable that's left out in the field, what's left in producer's bins and what market prices do(especially for the stuff left in the bin).

April 7th:
$483.82 Par Sktoon $520.82 Track Vancouver

Mar 24th:
$474.41 Par Sktoon $528.34 Track Vancouver

Mar 10th:
$503.49 Par Sktoon $556.42 Track Vancouver

Feb 24th:
$488.15 Par Sktoon $540.88 Track Vancouver

Seems canola prices domestically have a bit of a bounce compared to port prices.

At some delivery points basis levels indicate need but canola futures seem to have trouble rallying.

[farmaholic]

AND we're inverse/no carry all the way out to Jan 2018. I think the price drop was an over reaction. Too bad canola has to smell bean's farts!

[farming101]

Yes bean complex and the CAD are likely to put a cap on rallies. Deliveries were front loaded this year because of crappy wheat returns