Canola breaks res @ $440

[furrowtickler]

Canola punched through 440 this a.m. is the next level 500 ?? Should be but time will tell.

[boarderbloke]

won't there be some resitance in the 475 range, just have a look at the weekly canola chart. I think that if we can close above the 445, 475 might be the next target.

[mcfarms]

German ****seed crops having not great reports, palm oil production off US beans maybe up a little, The question is then whats the inelastic demand for Canola whats the probable price when substitution comes in and wheres that going to come from. Pricing will be fun and profitible( IF you have a crop) I predict but to what levels, starting to wish I'd topdressed more than just the irrigated canola and a little dryland last week. One other thing to consider with wet fields now over a good portion of the better looking Canadian crop and showery forecasts how much fungicide will get onto these crops and are we facing disease issues? Didn't get all the fields sprayed we wanted too as the timing was just not quite there and we may be pretty heavy into flowering by the time we get back into it.

[furrowtickler]

Boarder you are right, got a little ahead of myself - but it is not impossible at this point.
The rains should end - I sprayed 950 ac canola with lance/ronalan. Everytime I spray fungicides it stops raining and gets hot for 2-3 weeks. lol

[boarderbloke]

36 C today for Omaha and St Louis, reaching a critical time for midwest beans.

[furrowtickler]

Held above 440 at the close, it just keeps edging up slow and steady - much better than drastic ups b/c drastic downs always follow.

[cottonpicken]

Ill answer silverback here.

Imo,the 52 week 475 or whatever the high is will be
tested,please god give us three days closing three
percent higher than that level,havent punched to
many numbers.

If we bump our heads a few times,we are out,start
pricing.

Start selling old crop now that wasnt priced last
fall,if someone told you to sell between now and
last august,they are technically incompetent.This is
a consvertavive risk approach,although many will
argue to risky,the people who cant see it.

As far as new crop,anybody that has been selling
new crop needs a lot of things to go right as far as
looking at themselves in the mirror and saying the
words "risk managment"-basically your admitting to
yourself you dont understand it.

As much as a basketcase burbet is-he is slowing
coming to grips with how ignorant he is,which is
half the battle.

My personal battles lye in the usdx,us bond
markte,dow jones complex.

At the point these battles are resolved we will see a
super spike in the vegtable oils market.

Trading ranges have been set in many industrial
commodities,but not these,imo,very important
point,IMO.I hope im right,maybe not.

But yes timing is everything and it seems we are
several quarters away from big moves in the veg
oils complex,nobody wants to see big bad moves
but the market will force itself on everyone.Short
term,mid term, we are ronald mcdonalds and "lovin
it"

If any of that makes sence.?

IMHO DYODD

In My Humble Opinion Do Your Own Do Diligence