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Rivers, MB | I follow US wheat futures values closely. As Rosco said though, our beloved CWB makes it unwieldy and difficult to have good price discovery as to what our wheat would/could be worth for next year. As to canola acres, the forecasts I have seen indicate slightly more acres of canola than we had this last year. I think forecasts of 14.9mln acres in 08 as opposed to 14.2 mln acres in 07. Seed is still available. On our farm, our rotation rules over pricing. If it didn't, we would grow all sunflowers this coming year. The crops that we grow in order of profitability from highest to lowest for 08 is looking as follows: oil sunflowers, winter wheat, canola, peas, flax , spring wheat.
However, so far things are looking on the dry side, not much snow and not much rain last fall. This makes the canola and flax more risky than wheat or peas. I think old crop canola values have some upside potential as do soybeans in the US. New crop, not often that you can lock in $12 plus for new crop. Will be pricing some more fairly soon for new crop. Waiting on old crop.
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Canola Futures ???
