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| Crushers have enough soybeans bought to cover themselves for awhile, and I know ports in Montreal have emptied out their silos and their last shipment by boat went out last week of February and they have no more commitments overseas for this year unless the Canadian dollar weakens or the South American crop is reduced alot and world is looking for soybeans from anywhere available.
Just remember a year ago, it was very similar and by late summer the crushers in Hamilton had to shut down for a few weeks because they couldn't find enough old crop soybeans. I think a similar situation may happen this summer so be patient. | |
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ontario soybean basis
