Canola closed on the high today which I believe means a good chance of steady to higher prices tomorrow. But beans went down so Canola could follow beans. Hmm, if march soyoil extends this winters rally into uncharted territory upside targets will be hard to predict. Gotta like that one.
In the past we look for some rallies in the spring as commodities fight for acres. This spring should be really exciting. My July IMC unpriced canola just hit 13 bucks and Dec. 08 if priced today on the futures would be 12 bucks.
In the past we look for some rallies in the spring as commodities fight for acres. This spring should be really exciting. My July IMC unpriced canola just hit 13 bucks and Dec. 08 if priced today on the futures would be 12 bucks.
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