canola is up sharply on low volume today. Good opportunity on a slow day or the begining of more to come?
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I was ready some old texts on the phone the other day and in february 2008, canola made it up to 15.00 plus for a while. Flax was pushing 18.00 and peas were over 10.00.
With all the bad news, production wise, its easy to see that these levels may be achieved again. Even with the chinese manipulting the markets.
Bottom line, people got to eat, the carry over of quality grain is getting smaller not larger. IMHO.
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It feels weird to be the only one talking about this.
But is anyone following the massive volumes?
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It was thin this morning when it was up $6 but looking back volume ws huge last week which is strange for christmas season. Funds re-taking positions after the pull back. It's good to see the volume on the uptick. I was worried they would just close out the year and move on to something else. Or am I missing something
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