canola pricing

[ALLFARMER]

Bunge Ft Sask Oct $6.25/bu & they are cancelling freight assistance, from here 32 cents/bu So $5.95 October. Farming is seeing big changes in this area. The big guys are picking up 1000 to 1500 more acre's and passing on taking any more, land renting in some area's under $20 May 5 last yr. Bunge was offering $8.43/bu plus freight assistance so $8.75. The guy who rented mine planted...canola, for the 4th time in 5 years canola!

[charliep]

Is this a common new crop price? I note the basis on this new crop bid is $28/tonne under the November contract (Friday's close of $290.50 minus $262.35 - $5.95/bushel converted). The range the Alberta grain commission is showing is $14 to $30/tonne. See:

http://www1.agric.gov.ab.ca/$department/deptdocs.nsf/all/agc5136

[charliep]

Whoops. I note delivered plant price is $6.25/bu or $275.50/tonne. That makes the basis $15/tonne. The farm gate basis still applies for comparing to all the new crop bids at your farm gate.