Originally posted by AlbertaFarmer5
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For the chart guys here will we see this market start to gap up? If so what will cause it to happen?
Does that always look like a rocket pattern as it comes back down?
Any advice to participants if that happens?
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No need for gaps higher. Limit ups and downs destroy markets if you ask me.
Someone blinked in the March pit. It's trading again
Watch the active months May and July. And new crop.
IN '08 the May contract lost $120 in 4 days. Locked limit down 4 days in a row
Specifications now allow for expanded limits if two months are locked limit. 45 then 60Last edited by farming101; Feb 23, 2021, 10:08.
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The plant is now at +62 basis for July delivery.
They say the last thing they put through the plant before they shut it off is the buyers
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Originally posted by bucket View PostPaid for land means you are farming with cash. IMHO
Heck, he may have mortgaged it at bank and speculated on feed and cattle like i used to.
I've always said let a farmer talk for 30 seconds and you'll know how much debt he has.
Sometimes i forget that most on Agriville are playing with old money or did everything right prior to '03.
I just feel its a shame not to have dollars working harder for you than that.
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Originally posted by blackpowder View PostHe just admitted to farming with cash.
Or was joking.
Only debt is land debt, and I've haven't had the pleasure of inheriting any land.
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Originally posted by AlbertaFarmer5 View PostIt just means I am exceedingly cheap by necessity. Storing crop, and prebuying everything else pays way better than shiny equipment.
Only debt is land debt, and I've haven't had the pleasure of inheriting any land.
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While canola is being taken to the woodshed, Palm oil has gone up to within a whisker of its previous highs.
It is supposed to be doing the opposite at this time of year.
Meal prices don't seem to be justifying prices this high. But oils have doubled. Soy oil was up almost 5% just in one session earlier this week, closing slightly off that.
What do the chartists think, pause, or top is in?
Not historically the correct time of year for a top. But trending more this way in recent years, followed by another peak in spring/early summer.
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Originally posted by AlbertaFarmer5 View PostWhile canola is being taken to the woodshed, Palm oil has gone up to within a whisker of its previous highs.
It is supposed to be doing the opposite at this time of year.
Meal prices don't seem to be justifying prices this high. But oils have doubled. Soy oil was up almost 5% just in one session earlier this week, closing slightly off that.
What do the chartists think, pause, or top is in?
Not historically the correct time of year for a top. But trending more this way in recent years, followed by another peak in spring/early summer.
I dont think all farmers shared in this rally , most were probably sold on the way up...but it was for production not previously committed. Now the graincos have to sort out the logistics....
Maybe their books are full ....
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When the markets goes up at the end of the day Friday, instead of selling off as usual, it must say something.
Either that most participants are short, so the risk off trade for the weekend is to cover, or else that they see the biggest risk of the unknown over the weekend to be a risk to the upside? Or something else?
Quite a turn around in canola, and soyoil, and soys today.
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Originally posted by AlbertaFarmer5 View PostWhen the markets goes up at the end of the day Friday, instead of selling off as usual, it must say something.
Either that most participants are short, so the risk off trade for the weekend is to cover, or else that they see the biggest risk of the unknown over the weekend to be a risk to the upside? Or something else?
Quite a turn around in canola, and soyoil, and soys today.
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