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March Canola visualized

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    March Canola visualized

    What adjectives would you use to describe the March Canola contract in the last ten days? All I can say is, wow.

    <a href="http://beta.photobucket.com/" target="_blank"><img src="http://i335.photobucket.com/albums/m441/npksetal/Bucket/Canolamar_zps3dc09edc.jpg" border="0" alt=" photo Canolamar_zps3dc09edc.jpg"/></a>

    #2
    Or darn....I sold too soon, good thing there's more in the bin.

    Comment


      #3
      Some of that, may have to do with this,

      [URL="http://futures.tradingcharts.com/intraday/D6H13"]$CND[/URL]

      Comment


        #4
        Wow is not an adjective. LOL

        However, that is a good looking chart.

        Comment


          #5
          Soybean complex is going up as well (actually a rally shared by most commodities). I will note the chart is a 90 minute. Look at the daily and I suspect you will see a pretty firm resistance area. This rally may have broke it but it needs a few days of firm closes above. Would also be watching futures spreads (particularly the March/November) and basis.

          Perhaps the most amazing thing to me is the Dow Jones. As negative as everyone is, the index keeps chugging higher. You can thank me because I sold some stocks early in January so that was a very sign things were going higher. The second most amazing market is crude oils. Holding above $95/barrel. This would be another reason the vegatable oil complex/canola is getting dragged higher.

          My only comment for the bulls is "You live by the sword, you die by the sword". You don't get to brag until you sold canola/deposited the money.

          Comment


            #6
            Thanks for checking that Checking.LOL Is Moonshot an adjective, or is it only a noun? I never did pay attention in English class.

            And BTW the CND dollar has been trending up since the 24th. So I speculate it has more to do with crushers feeding their plants, and the story below this thread mentioning South American logistics issues.

            Comment


              #7
              Dry for next while in Argentina. Mata Grasso Getting pounded till 5 th of feb in monsoon rains. Their ready to combine. Trucks and driver safety new rules so you don't have guys driving day and night to get to port, taking drugs to sleep and stay awake, or drinking. Ok as much.
              USA still not really wet.

              Comment


                #8
                March is breaking current chart resistance
                in the $620 - $621 range today. Close will
                be important today. Risk on fund buying
                appears to be key driver.

                Guys . . . keep an eye on Nov.

                This is a fund rally with a massive South
                American crop on the doorstep . . . .

                Comment


                  #9
                  errol

                  I was just going to ask, if this a blow off should a guy get more sold into new crop?

                  Comment


                    #10
                    bucket . . . good question.

                    To me, this is a fund buying inspired
                    rally. South America is now in full-
                    blown harvest mode and China will swing
                    sales to them. Bullish technicals though
                    suggest this rally is not over. March
                    soybeans to $15/bu?

                    Nov canola appears poised to take a stab
                    at $570/MT and there are some analysts
                    suggesting $580/MT.

                    IMO this is an old crop pricing
                    opportunity. New crop is more difficult
                    as the market really doesn't know where
                    our acres will be this spring.

                    Comment

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