Grain markets continue up

[AlbertaFarmer5]

Elevators and crushers are phoning around today to secure more canola, market is getting nervous about supply. Holding and hoping for a happy ending.

Their poker face was quite revealing last week. One elevator sent out a special for spring at nearly 60 cents over the closing price in the midst of last week's panic sell off.
I usually judge the direction of feed grains by the number of brokers who call me to tell me that the feedlots are all booked up, and won't need to buy again after this last opportunity.

[Ronski]

Started selling canola at 12 dollars and I had 40% left a week ago, priced part of that friday for the highest price I have ever sold canola for. Now I have 10% left and will wait for summer to price that (bin bottoms so why go in till mid july when it warms up nicely).
I admire you guys that can hold but I look at the downside risk and am very very happy with my pricing so far (bought and paid for 2021 seed, fert and fuel before year end so I have to get some cashflow but $5.50 feed barley Sept 2021 was a great starting point).
We have seen great prices come and go before, why not lock in a profit while it is here? We all want to hit a home run but if I can lock in expenses and a $200 per acre profit why not???

[helmsdale]

Sold high falling number, high Px #1 wheat into the feed market for nearly 3x what I sold for in 2013 when I gave #1 wheat away because the railroads shit the bed...

Everything else is spoken for except maybe 1.5 loads of peas, and the same of durum. Would love to have held onto peas till now, but the bank is only so forgiving...

[Dr Tone]

We all want to hit a home run but if I can lock in expenses and a $200 per acre profit why not???

Go for it. If I could lock in a new crop per acre profit i would. Unfortunately mother nature doesn’t allow taking that risk.

[farming101]

Many games have been lost when the loosing team put a solo home run on the board.

For canola historic resistance sits at 728.40

[Rareearth]

Hope it rains in May.

Ag canada has announced “ 2021-2022 production of oil seeds is set to increase by 6% to 19.9 MT, third highest on record”

NO Mention of the drought in western Canada, 😳

Let the predictions begin, Crop is still 3 months away from going into the ground.

More concerning, and significant to the markets and demand are the increasing outbreaks, killing off the barns of hogs and feathers.

Makes a guy wonder what is Canada’s plan if a BSE, dairy, or flax, or ... ?. These are issues that could impact the Canadian livestock markets, economy, etc

[bucket]

Hope it rains in May.

1. Ag canada has announced “ 2021-2022 production of oil seeds is set to increase by 6% to 19.9 MT, third highest on record”

2. NO Mention of the drought in western Canada, 😳

Let the predictions begin, Crop is still 3 months away from going into the ground.

More concerning, and significant to the markets and demand are the increasing outbreaks, killing off the barns of hogs and feathers.

3. Makes a guy wonder what is Canada’s plan if a BSE, dairy, or flax, or ... ?. These are issues that could impact the Canadian livestock markets, economy, etc

To comment on some of your points...

1. I predict a 15mmt canola crop if conditions don't change
2. Western canada doesn't matter

3. And Canada has zero plans with respect to BSE, day or flax etc....and the pandemic proves it. If you purposely eliminate your pandemic monitoring department for people. Pretty sure they don't care about pigs, cattle feathers or crops, especially in Western Canada..

[AlbertaFarmer5]

So after a few days of shaking the tree, canola has now made new highs today. Is it all blue skys from here on out?

[biglentil]

Had a mm filled @15.25 for March delivery this morning to my local terminal.

[bigzee]

Ag Canada predicting the size of crop in Jan is like the weather man predicting the amount of rain we will get June 30th.