Targets will resume next week but looking closely at doing a Canola sale in front of big USDA on Friday. I am almost certainly going to go to 65-70% sold tomorrow, so anyone nervous can pull the trigger today as $13.22 is a good price. There is tremendous volatility ahead in Canola as we will almost certainly run nearly to empty, but that’s baked into the cake now and prices still deteriorating. That is not Bullish price action. There is very good reason to hold 30% back to play this tremendous upside potential of a 1-2% SUR. But it’s only potential, Beans has potential to lose $1.50 and that means $12 Canola. Maybe even 11.50′. More tomorrow.
FOB Assiniboia, SK (Except for Lentil/Chickpea FOB Farm)
#1Canola: Jan $13.22(0) Mar $13.25(+2)
#2Y.Pea: Jan $8.43 Mar $8.43
#1Flax: Jan $14.14 Mar $14.14
#2GrLentil: Jan 18.5c
K.Chickpea: Jan 30.5c
#EthWheat: Jan $6.90 Mar $6.95
#2AD13.0: Jan $7.53 Mar $7.64
#2HRS13.5: Jan $7.23 Mar $7.33
– Better pricing may exist in deferred delivery months. See “Deferred Real Values” post coming from time to time. Marketing Plan Updates/Targets (tonight/tomorrow) will always utilize Real Value prices, reflecting Cost of Carry.
*special “limited tonne” price
