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Theodore, Saskatchewan | imtheboss good question because it normally trades at a premium to soybeans because the value of bean oil> and canola (rapeseed) is 40% oil versus 20% for beans. it is still an oilseed with meal and china ran replace some bean crush with canola. With current prices i am sure they are but looking like we could come up 50 million bu less than expected. bullish news for canola if true but also means less replacement for beans.
combination of drought and this forum this year opened my eyes. farmers are now pegging crop supply and demand before the trade. (if we are talking to eachother)
looking at bean oil we need to break above 58.0 to get things going
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canola crop in sask is poor
