All fall and winter, canola has been the talk of the farming community. With speculation at one point that the acreage in Western Canada could balloon to as high as 22 million acres, farmers are eager to price the 2010 and 2011 crop properly. With the realities of how wet eastern saskatchewan is going to be again, much of the outrageous speculation has subsided and forecasts are now closer to 18-18.5 million acres.
Canola looks to be the most profitable crop on Western Canadian farms again this year for farmers. At CropWeek in Saskatoon farmers were very interested in the pricing potential of canola as it moves higher. Basically I heard the question, “how high can it go?” asked many times. If you remember many farmers were burned a couple years back when canola was $15.00 per bushels and some thought it was going to $20 and then watched it drop to $8.00.
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Mike Jubinville sat down with the Canadian Ag-media at CropWeek 2011 to discuss the canola market and what could happen with prices and acres in 2011.
SEE MORE CROPWEEK 2011 COVERAGE
If you cannot see the below embedded video, click here
