What to do with unpriced canola

[Incognito]

thats 8.00 over March...doesnt like plus signs, this board

[melvill]

still didn't tell me who's paying the 8 over and where.

[charliep]

Likely a crusher bid. See: http://www1.agric.gov.ab.ca/$department/deptdocs.nsf/all/agc5136?opendocument

Best bid here is $4 over but some negotiation/volume and achieving another dime a bushel should not be tough.

I will post the charts location (realatively tight trading range).

http://futures.tradingcharts.com/chart/CA/35

Only comments I have before I leave for discussion.

1) Make sure you are comparing all your canola prices at your bin and adjusted for grade, dockage, etc. It is not necessarily the best posted price that puts the most money in your pocket.

2) My recommendation remains to be a slow steady scale up seller. Too hard a market to call with downside potential still there (don't be in a panic sell situation down the road). I would be in no rush to replace with futures/options either and if do identify why you think think prices could go higher (canola, soybeqn oil, loonie, etc). If you do replace, keep in mind you are making an investment decision and not because you are mad you sold too cheap. Where will your money get the best returns?

3) New crop prices should also be on your radar screen both in terms of pricing new crop but as well in the specutlative strategy (if you go there).