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    #11
    Errol

    Judging by soybeans, canola may turn back positive, does it blow through 600 or just stay flat for a while?

    Comment

      #12
      Markets can do anything, but given the
      setback in canola yesterday, $600/MT
      becomes a tough resistance zone to
      break.

      If funds lose confidence, canola could
      slip another $20/MT quickly. The ball is
      in their court, but technicals scream
      overbought right now. Canola needs fresh
      bullish news soon or market is at risk
      of failure. Malaysian palm oil peak is
      also likely in.

      Errol

      Comment

        #13
        Seeing as how the average commodity trades 10
        times more paper than physical supply and the index
        funds have inject 1000's of percentage points of
        liquidity in the past decade the "demand" side of the
        equation has changed,dramatically.

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