Canola

[LEP]

Does that mean there is no money in bins this year?

I don't know, has the price changed from September? (Sarcasm intended.)

[bucket]

I don't know, has the price changed from September? (Sarcasm intended.)

I get the sarcasm that prices have moved but the bins are probably holding grain that is well over 75% priced ....the last little bit guys probably bit at a 25cent special...so the bins are not ROI right now for many but some guys are doing very well with them and having 2 or 3 years worth of grain sitting for the buck or two increases...

Flax paid to put in a bin....BUT I do not like storing flax....even dry flax....

[bucket]

Guys are probably contracting canola at 11.50 for september 21 ...historically a good price...problem is what percentage of expected crop does a guy price with current soil conditions...

Its not a wreck in december thru april...but rainfall is the only thing that will grow a crop right now during the growing season....around a good portion of southern Saskatchewan it is record or near record dry...

[farming101]

Some suggestions:

Go to 80% on crop insurance

Second, it's a given, we are going into spring dry. Right now we are back in the stark reality that on the prairies we still experience the remnants of the last ice age for up to 6 months of the year. Look out your window if you don't believe me.
So, it's gonna be dry in early spring till we see what rains come. I think we have till then to start pricing next crop with out too much penalty. Pricing it outright at this point is too expensive and risky.
However, I would suggest that besides crop insurance and any other insurance you might want to try it would be advisable to look at some type of market protection provided by options. No, options will not fully protect you from price erosion unless you really load up on them but they do cushion the blow and can put you in the black even if the crop turns out poor. Besides that you leave your delivery options open and you do not risk having to cover a delivery contract when there's nothing to deliver.

[farmaholic]

Over $20 inverse RSF21 to RSN21.

A while back I was harping about the benefit of my specialty canola basis contract. The positive basis and the carry as an added benefit. Well the carry went Inverse. I'm still doing Ok but not as Ok.
Negative basis still takes it's toll on generic commodity canola.

[farming101]

New high in Jan and continuous Bean Oil chart today. CAD advancing...

[Oliver88]

January broke through $600!

[farmaholic]

January broke through $600!

Months ago I would have thought July would have broke through first.
But enough about that.

[farming101]

Statcan Dec report and subsequent USDA basically leaving things the same have boosted prices.
Along with today's strength in Bean Oil.

[Sodbuster]

Those charts look promising, soyoil holding it’s own, could be some fireworks later on. Thanks for the charts. I locked in a basis today at +15, will wait a little longer before locking in my futures and maybe buy July calls.

[Oliver88]

Dry in Argentina

[farming101]

March contract up through resistance this morning