Agricultural News
PCOM's Neuens Says Interest In Canola Soaring; Expects More Acres Next Year
Tue, 22 May 2012 15:16:55 CDT
With the growing number of canola growers across the state more elevators are handling the growing volume of canola.
Gene Neuens of Producers Cooperative Oil Mill says that farmers have a number of options in marketing their canola crop. He says farmers can choose their elevators and elevators, as well, have options in their marketing choices as well. He says with infrastructure now in place, marketing canola for the producer is now very much like marketing a wheat crop.
He says prices at the local elevators can varying about a dollar a bushel from southern Oklahoma where the current price is in the $12 per bushel range, to northern Oklahoma where the price is closer to $13.
Neuens says he's seen a lot of interest from producers in adding canola to their cropping plans for next year.
"Everyone from central Kansas all the way down into Texas, people are very interested. They've seen this crop do a good job this year. And they've seen the wheat after now. They've seen the results of that. And I would suspect there's going to be a lot more acres planted next year."
Not only are farmers planting canola for its ability to help clean up weed problems in wheat fields, Neuen says producers are finding it economically advantageous.
"It's very profitable. If you take a look at new crop wheat price compared to new crop canola price, we're about twice of what that is right now. We're getting about the same bushels per acre as we get in a wheat crop and they have the option of cleaning up their fields. So, the next year's wheat crop is going to be better also. So they can make about $500-plus per acre gross on canola right now which is a pretty big deal for these farmers."
Canola TV is a service of PCOM, Producers Cooperative Oil Mill. Click here for their website to learn more about their interests in serving the farm community.
Click on the arrow within the video box to see today's CanolaTV segment- and click here for the YouTube Channel--WinterCanolaTV where you can enjoy and learn from previous Canola TV segments.
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