July 07 Canola

[crusher]

If canola hits some of these targets mentioned, it may not stay there for very long. I would put your GPO's in now. Might want to split up the quantity. My AU basis expires June 15, so there may be some selling pressure around that date. I guess I should probably make a marketing plan too. I hear close to $9 around Edmonton spot. Nov was $20 over July but has narrowed in lately. Could be an opportunity to sell the cash and replace with November if the rally is still going for another 2 weeks.

Any good spring 2008 basis anywhere? May 08 $424 less $15= $409 or $9.28/bu - not bad! Now I just have to grow it.

[SASKFARMER3]

Karm I did one sale on Jans top day for first part of our canola 1000 tons, used the advance on intrest free part and waited for basis.

[kamichel]

I find it difficult to look at charts to predict where the next trend will be. I suppose I am not alone. This is one time the acreage reports will be working in the farmers favour as I think much more canola will be planted than shown in the reports.
A trending up dollar will pressure Canola down. Lots of Canola will get planted over the weekend, people that are not done here some are working around the clock. Some are even planting extra canola because of the price. Moisture is plentiful most places.
I plan to pull the trigger and not let go till half my expected production is sold. 3/4 Dec. 1/8 april 1/8 june.

[cropduster]

For the late canola seeders, check out some of the Omex products for hastening/evening maturity.Will be running some thru the plane this year.With these prices it certainly could be beneficial,but am NOT an expert.

[crusher]

I priced my July contracts today at $396, on the daily charts looks like an area of resistance above this level. Still have my last 20% to go.