Canola

[Maver]

Where is the next line of resistance for March futures? Up to 630.80 and backed off this morning. 635-640 ?

[Blaithin]

Jan to July inverse is HUGE.

What is the basis in your nearby bids?

0 to -15

[farmaholic]

We have local GrainCo that also crushes in the NE.
Local posted bids are a dime to twenty cents higher than crusher delivered price.

Kind of a "HUH?" moment.

[Blaithin]

This made me laugh. Doesn’t matter the country, doesn’t matter the association, doesn’t matter the commodity, it’s almost word for word 😆

[beaverdam]

We have local GrainCo that also crushes in the NE.
Local posted bids are a dime to twenty cents higher than crusher delivered price.

Sounds like there is a ship somewhere, waiting for canola seed.

[beaverdam]

This made me laugh. Doesn’t matter the country, doesn’t matter the association, doesn’t matter the commodity, it’s almost word for word 😆

So true.

It always seem that farmers should be(or would be) the first to know "we're having a smaller harvest",,, yet it also seems like farmers are the last to know there's been a smaller harvest.

[farming101]

Backyarditis is a problem.

The thought I have a poor harvest so everybody is having a poor harvest, can cause one to reject the best prices of the year because it doesn't make the bottom line black enough.
Also, one farmer is only kidding himself if he thinks he can get a good handle on world crop production all on his own.

[farming101]

We have local GrainCo that also crushes in the NE.
Local posted bids are a dime to twenty cents higher than crusher delivered price.

Kind of a "HUH?" moment.

Likely tells you where the best crops were this year

[checking]

March 2021 chart
Just one nearby resistance line and a bunch of support lines. (All lines below closing price are support)
Black lines are boundaries for the recent trend higher. I should take them out because they are no longer in focus but it shows where prices have come from. As of today's close March is still outperforming the previous trend higher boundaries.
Bout all the chart watchers can do now is see what happens this evening...
Should add, significant volume today indicating rolling out of Jan contract but also price weakness.

[ATTACH]7184[/ATTACH]

Those various lengths of tubes with fuses look a lot like dynamite sticks. So far none have been lit to blow old crop prices up. Please keep your lighter away from the chart, ie. "don't take them out".

[Partners]

Anyone pricing new crop?
Viterra at 11.25 for Oct.

[farmaholic]

Anyone pricing new crop?
Viterra at 11.25 for Oct.

I would have to see good April rains before I would be confident enough to price without an AOG.

Getting decent establishment is the first hurdle I need to clear, too damn dry here for my liking.

[farming101]

Bearish Doji in the March yesterday and today's price action is hinting that the trade is comfortable with the stocks of Canola for nearby sales. March - July spread narrowed $7