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Canola-more good news!

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    #1

    Canola-more good news!

    11 month high posted in RSX18 this AM!
    Tags: None
    #2
    Sure seems to be on a slow but steady incline.

    How high are you thinking May will get?

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      #3
      Still have some 0 basis levels out here. How are they where youre at?

      Comment

        #4
        11 to 13 is good considering our dollar

        Comment

          #5
          Originally posted by Oliver88 View Post
          Sure seems to be on a slow but steady incline.

          How high are you thinking May will get?
          Right now I am not confident of any more than 519 May intraday(which is very close). But a lot can change before the middle of April. DYODD

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            #6
            Continuing to slowly move up today.

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              #7
              Lately Canola seems to be moving somewhat independent of the CAD, soybeans, soy oil or meal. There must be a supply and demand story in here somewhere. All this at a time where the shipping story is at it's worst. Time to start putting up some ridiculous sounding targets for late spring?

              Comment

                #8
                Grinding higher following the Argentina weather story. The potential for decent upside is there once we confirm South American production and if it's dry and we develop a Canadian weather story in the spring as well. Catch 22 at that point as price will move but you don't want to sell unless you are in an area unaffected by the Canadian weather.

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                  #9
                  May Canola has made it to 519 this morning. A close above 517.50 this week is positive
                  Within 20 cents of the November 2017 prices for Apr/May delivery here

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                    #10
                    Another $25-30/tonne(RS N8) and we will have $12.00 July commodity canola.... Maybe wouldn't even take quite that much.

                    Lock the bins.

                    Edit, killed the canola thread I started an moved the comment here.

                    Comment

                      #11
                      Originally posted by farming101 View Post
                      May Canola has made it to 519 this morning. A close above 517.50 this week is positive
                      Within 20 cents of the November 2017 prices for Apr/May delivery here
                      Correct me if I'm wrong but the chart shows the May contract max level has been $530.

                      Comment

                        #12
                        Originally posted by Oliver88 View Post
                        Correct me if I'm wrong but the chart shows the May contract max level has been $530.
                        Basis has improved here since November

                        Comment

                          #13
                          Originally posted by farming101 View Post
                          Basis has improved here since November
                          I'm seeing -10 for me for Apr/May or +50 Nexera.

                          Sold small amount this morning, hopefully it keeps going up.

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                            #14
                            Canola back to $12 for June at ADM .
                            Good to see

                            Comment

                              #15
                              priced some nexera new crop from combine with AOG for $12.50 , decent

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