Markets today ?

[furrowtickler]

Hmmmm , positive biodiesel incentive out of the US driving beans today .
Now if only that could happen in Canada eh ?

[farmaholic]

Presently March over May inverse but not by much.

I never looked....did bean oil or soybeans push it up or is Canola a big boy now and making it's own moves.

[errolanderson]

Rumoured Trump biofuel changes sparking monthend fund shortcovering . . . .

[fjlip]

Hmmmm , positive biodiesel incentive out of the US driving beans today .
Now if only that could happen in Canada eh ?

Corn and soybean futures soar on signs President Trump could retool a federal mandate that sets annual requirements for how much ethanol and other biofuels must be mixed into the nation's fuel supply. The Renewable Fuels Association, an ethanol industry group, says it learned from the Trump administration that a pending executive order would make changes to the way ethanol is blended into US gasoline, which grain traders see as a boon for
ethanol production as well as corn, the main feed stock in the bio fuel. Potential changes to the mandate also are seen as positive for soybeans, used to make biodiesel. CBOT March corn jumps 2.9% to $3.70 3/4/bu while soybeans rise 2.3% to $10.34 1/2. (DJ)

[Oilking]

Uh-oh. More ethanol needed = more corn acres needed. I guess this kinda throws a wrench into last weeks USDA forecast. The acreage battle has just begun. Less beans and more corn now.

[furrowtickler]

Not sure about that , if beans go up relative to corn there may not be much change . Time will tell

[Guest]

trump helps us out again , wtf ???? he cares about his farners ??? not like this arrogant a hole we have .
we took some $11.70 for apr in tisdale for canola this morning , prob $11.75 now . that's a good price for yorkton but costs us 60 cents a bu for freight to get it there

[furrowtickler]

Has JT ever even mentioned bio fuels since the east voted him in ?

[Oliver88]

There is a Presidential Address to Congress tonight.
Maybe the ethanol mandate/biofuels requirements will be mentioned?

[farmaholic]

Biofuels aren't green enough for Justin.

His only solutions are sunny ways and windy days......you have to "appear to be getting something for nothing"! ...his socialist ways.

[farmaholic]

Overnight trading has canola off to a good start, lets see if it can create some momentum and sustain another rally.

Market analysts?......

Not just a day rally either.

Draw some lines for support and resistance on the July contract chart and please post it.

[farming101]

Open interest across all months finally went up today after drifting lower since Feb 13. That's something

Chart below-
Sailing through the 527 line very positive
Trendline support at 516.51 and resistance at 539.73
Retracement line of 515 second support and holding the last two dips
Dec 6 high at 545.20 second resistance

A close above 527.42 Thursday would provide confirmation and might uncover more long specs testing the waters. Likely have to reach for 545 to get $12 bids in the majority of areas
Just one way to look at things. Might not go that way at all

[Oliver88]

Farming 101 or anyone else - Could you tell us the long funds vs the short funds?

[farming101]

Oliver info not widely available sorry I don't track it

[HappyFarmer]

Funds bought another 1500 today. Now long 6000 in canola.