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Canola up today....

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    #1

    Canola up today....

    What's up?

    101?
    Tags: None
    #2
    Lower CAD, stock ONLY up 10%, no massive carryover increase with out China?

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      #3
      Our dollar is down.

      Nothing has changed we have no ambassador to China and they don’t want to talk to little fake potato

      Comment

        #4
        It's a meltup!

        Just kidding, I don't think much has changed. Adding another 8 or 9 a tonne would improve things chart wise.
        The trend is down.
        Crush margin has room for a bump up that's for sure.

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          #5
          Originally posted by farmaholic View Post
          What's up?

          101?

          Comment

            #6
            Originally posted by tmyrfield View Post
            Is that the Challenger?

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              #7
              Yep 👍

              Dead cat bounce

              Comment

                #8
                Originally posted by SASKFARMER View Post
                Yep 👍

                Dead cat bounce
                I knew someone would get it!

                Comment

                  #9
                  Originally posted by tmyrfield View Post
                  I knew someone would get it!
                  Unfortunate end to the spaceshuttle Challenger...it went up exploded and fell to earth.

                  If this isn't the dead cat bounce its one of it's last gasps before the next leg down.

                  Its all painful for stored canola but there's hope further out for new crop...unless you want to store old crop in "hopes" as well.

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                    #10
                    Buying acres, will stay up till June 20.
                    Last edited by 6V53; May 7, 2019, 17:52.

                    Comment

                      #11
                      Up because there is ZERO selling..
                      Lock you bins if you have any left...

                      Comment

                        #12
                        yea they are scooping up any contracted canola around here even June July contracts

                        Comment

                          #13
                          101, have deliveries to Primary Elevators fallen off the same cliff as prices?

                          We would need a pre and post price crash comparison of deliveries but I would think some people were smart enough to sell early in the decline....so skewed it might be.

                          p.s. Get that drill out, it's getting late.


                          On another thought, how much canola is sold off shore on speculation? GrainCos know whats in the countryside. So make the sale and wait for the grain to roll up the driveway? Then the market crashes and there could be a good spread to pocket, besides the regular margin. I doubt they would do that, they could easily be on the wrong side of the market if prices rose substantially, me thinks it's too risky and they're fully hedged.

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                            #14
                            Can probably blame the low weeks on cold temps and road weight restrictions

                            Click image for larger version Name: canola del to primary.jpg Views: 1 Size: 37.6 KB ID: 767280

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                              #15
                              Originally posted by caseih View Post
                              yea they are scooping up any contracted canola around here even June July contracts
                              Our local elevators grabbed ours and others June/July contracts 3-4 weeks ago.

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