Interesting Day... markets

[furrowtickler]

Big rains fell in Argentina, start off negative.
Then talk of Russia limiting exports on wheat???? After so called massive crop.
Also rumors of argentina limiting exports as well.
Wheat shoots up and drags a bear into the bull ring.
Then icing on the cake USDA reports that $9 bill in crop ins payouts kinda shock the market - as in who maybe not as much corn/wht on farm as first thought.
Funny to watch the bull / bear fight - like a mattador ... expect very wild days ahead - time to go on holidays.

[Hopperbin]

Maybe I should go to Vancouver, last time I went to Vancouver canola went to 15 bucks.

[MoeAgostino]

I think we are going to have alot of days like today...lot of uncertainty.

The wheat complex was higher on short covering, technical buying, and the mostly lower US dollar. There’s been at least some damage to Argentina’s wheat crop, Russia may impose an export tax, and there are concerns about the U.S. hard red winter crop. However, the overall fundamentals remain bearish, especially on the global supply side of the balance sheet. European wheat was higher on the South American crop woes.

Take care,

Moe Agostino
Farms.com Risk Management

[Daylate]

I finished pricing 40% of old crop canola today, cause i can't get any direction from all the information I've been exposing myself to. To much hangin on every drop of rain that falls or every political announcement. So between me selling and if Hopper goes to Vancouver we should get a nice price rally.LOL, maybe to $13