Canola Following

[Hopperbin]

Seems canola is going the way of the dodo bird CWB prices

[mbratrud]

It's Harvest...

[fjlip]

China India and Australia are dry at present. Harvest Pressure- a good excuse.

[charliep]

Your issue on canola is the declining soybean/soyoil market. December CBT
soyoil was about 34 cents/lb. Convert to Cdn $ and multiply by 10 gives an
approximate canola value.

I would watch basis. From the CGC grain stats weekly, there is currently about
460,000 tonnes of canola in the commercial system - very tight. Delayed
harvest, slow deliveries, potential shortfalls in some of the grain
company/crusher farmer new crop contracts will likely keep supplies tight
through the early fall. Would start to watch basis levels and those calls for
immediate deliver/premiums. Anyone who can separate delivery (watch basis
and sell when narrow) and pricing (buy futures to replace actual physical
supplies). this is particularly the case if you think you might have storage
issues with your canola or need the money.

To the first point however. You need to make the call on soybeans/soybean oil
whether to stay long or price.