Seasonal Canola

[Guest]

[ATTACH]6923[/ATTACH]

Will it make an attempt to break out of the upper range. Or is there no new bullish news to drive it any higher short term?

Got to wonder what prices will do if a large portion of Western Canada remains dry up to seeding season.

Price canola at the upper end of the range or hope for a break. Not a very large range though.

Kinda early in the marketing year yet.
jeez, western canada has absolutely no bearing on market*. you know that
we don't matter at all, until we do , lol. (tm chucky)
But we are living in uncertain interesting times.

jeez, western canada has absolutely no bearing on market*. you know that
we don't matter at all, until we do , lol. (tm chucky)

[Sodbuster]

We might not have a big influence on world markets it watching Soyoil at 35+ gives me hope for canola in the teens, locking my bins up until next spring.

[farming101]

New highs in all old crop months today

[Oliver88]

New highs in all old crop months today

Lots of $12 “specials”.

[Rareearth]

Makes a guy wonder how many targets were picked off

Good reason not to have targets that are longer than 24 hours

[farmaholic]

Makes a guy wonder how many targets were picked off

Good reason not to have targets that are longer than 24 hours

Haughhhh gasp, .....you don't say! What did you say? Say what?

[Oliver88]

New highs in all old crop months today

Overnight canola taking off....

[farming101]

check but pretty sure closed for November 11

[Oliver88]

check but pretty sure closed for November 11

You are correct, up $9/tonne today.

See how it goes on the 12th.

[beaverdam]

You are correct, up $9/tonne today.

See how it goes on the 12th.

Not a holiday in the USA, today !

Commodity markets open and Beans are up over 8 cents on the near months and bean oil up 48 cents.

[farming101]

Not a holiday in the USA, today !

Commodity markets open and Beans are up over 8 cents on the near months and bean oil up 48 cents.

Yes, up 50 cents or so. Note, some traders may start to adjust their long/short ratio at this price or higher

[farmaholic]

Yes, up 50 cents or so. Note, some traders may start to adjust their long/short ratio at this price or higher

Please explain.

So I don't display my ignorance, I'm not going to try and post what I think/guess you're getting at.

[farming101]

Please explain.

So I don't display my ignorance, I'm not going to try and post what I think/guess you're getting at.

Many speculators in Bean oil(large and small) will be holding profitable positions now. There has been a huge increase in their net long position starting in June. But as of last week spec trade was holding short positions of over 44 thousand contracts(long 180K+). It is purely a guess but there may be a case for starting to bank some profits at these levels. Likely wont see it till there is a pullback. Speculators love speculating

[farmaholic]

Greed and obstinance are not good marketing qualities, I have both.

I guess I guy could price it all but I don't want to "buy paper" to stay in the market. Although being long physical is speculation too.

[farming101]

December could move to nearly 38/cwt based on today's strength. It would be ripe for a pullback at that level.
And remember, as usual the reality may turn out to be somewhat different