new crop canola basis

[brian99]

Where are the new crop basis levels at for canola? In southern Alberta, Ive heard 18-30. We used to be able to get 0 or even under this time of year. Any ideas out there?

[TOM4CWB]

Brian99;

The reasons I have been given on the high basis are;

High 2004 production expected;
Buyers of Canola products not contracting yet;
Cash prices too low @ Port position VS futures.

If contracting Specialty Canolas many of these problems disappear.

On average we are about $4.50/t higher than the long term average basis our farm has done, over say the last 10 years.

With Crop Insurance projecting a $310/t average Canola price for 2004 production... it must be admitted that extra risk does exist in 2004 marketing... therefore I would suggest the $4.50/t risk premium is justified.

[Ration-Al]

Larry Weber said on the radio today that the crush margins are over $100.00 per tonne right now when not so long ago they were closer to $20.00. He called it gouging. Does Larry Weber know of what he speaks?

[Incognito]

what radio station did you hear that on today?

[rain]

Yes the producers friend is looking out for your best interest.

New crop crush margins are excellent maybe this will mean basis will get better.

Remember boys the ag realated business have had just as rough a go as we have the last few years.

We need these companies to buy our products.

[Incognito]

Do farmers know that you are spending their money to track CWB sentiment in the media?

[TOM4CWB]

Incognito;

No one knows (except the CWB and CSIS of course) as access to information is barred from revealing such radical "commercially sensitive" info.

Wonder who's name is at the top of the list in the "WAR ROOM" today?

King Ralph?

Larry Weber?

The Husbands?

Farmer's for Justice?

not me of course... I am just a dumb farmer from Killam who has never marketed any wheat or barley in my life!