Yes some areas had a great crop and some had a so so but this big supply thing that we hear over and over is Bullshit I'm starting to think over and over.
Oilseed Markets Balance Big Supply vs Big Demand
Oilseed market seasonals tend to point higher into late Nov., says Mike Jubinville of Pro Farmer Canada for FCC.
The soybean price trend for now will likely grinds along its upward price channel established from the mid-Aug. low, he says.
Nov. canola futures are threatening a test of overhead chart resistance at $500/t.
"In my opinion, sell-offs at this time are not likely to be sustained," says Jubinville. "But, sufficient supply is available which doesn’t take much rally or cash basis induced incentivizing when needed to draw farmer-owned canola into the commercial pipeline."
Sufficient supply right now. Yea genius we just finished harvest in most of the west and yes farmers have the grain and companies would like to get their hands on it.
But they keep telling us its a big big crop and they can wait then phone and say hurry act fast we have a special of 11 a bushel for end of November delivery.
Its a carrot and stick mentality.
Funny on the whole drive to Banff from Balgonie to Brooks you could count the grain bags this year with your fingers and toes and be ok that you didn't miss one.
Two nice new bin yards in area by Web and closer to Maple creek.
Funny you can tell in Alberta where the irrigation never got to the crop.
Then halfway from brooks to Calgary the bag numbers started but not like the hay day of last few years.
i talked to two owners of companies that supply farm equipment and bags and bins across western Canada. Both comments were we all got lucky this year grew a crop with good quality but no Bumpers. Grew a old style normal crop. Yes some areas real bad but over all a surprise but no bumper.
I believe demand is their but supply by August will be almost empty.
Just a observance from the road.
One thing was funny on the drive.
In our area every tom dick and harry is out with every thing from the newest to old discers trying to get land back to normal. The dry area its like its over were parked and lets put 2017 behind us.
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