Grain markets continue up

[beaverdam]

StubblejumpingC o n f u c i u s says;

"Continually raising the price often makes firm hands, even firmer.
Sometimes to free grains from firm hands "they" must lower the price, rather than raise it."


Can't believe you can't type C o n f u c i u s, without it being edited.

Canola up $19.50/t this morning !

"They" took it down,,, shook out what they could,,, now coming back for more !

For chart readers,,, I'm wondering if March canola looking like were heading to the "head" of a head and shoulders formation?

[checking]

Canola up $19.50/t this morning !

"They" took it down,,, shook out what they could,,, now coming back for more !

For chart readers,,, I'm wondering if March canola looking like were heading to the "head" of a head and shoulders formation?

Quit while you're "ahead" comes to mind!

[furrowtickler]

Impressive to see after a short correction

[farming101]

Canola up $19.50/t this morning !

"They" took it down,,, shook out what they could,,, now coming back for more !

For chart readers,,, I'm wondering if March canola looking like were heading to the "head" of a head and shoulders formation?

Head and shoulders pattern forming is a total unknown.

What I am watching is for price to take out the Jan 11 high of 673.30 Mar contract. With a little bit different pattern there could have been an island top form in the last three weeks. It didn't, so it's not valid but still something to I'm watching.
Right now I would guess sideways, with a bit of doubt that 692.30 will be bested. So that would mean no head and shoulders; I don't know...
Great price action into the close. 692.30,Jan 13 high, next resistance

[Maver]

Mar canola up 30.00, may up 19.80 and july up 12.30.
Why such a difference from mar to july?

[beaverdam]

At 50% retracement on the $47/t drop,,, would bring us back to $668.60

Blew past that today closing at $679.60/t,,, at the high for the day up $30.00/t

[shtferbrains]

Expanded limit tommorow?

[farming101]

Expanded limit tommorow?

No, March settled at 26.10 higher

[jazz]

Market head fake trying to shake out the weak players. Never sold a bushel during it.

[Sodbuster]

Elevators and crushers are phoning around today to secure more canola, market is getting nervous about supply. Holding and hoping for a happy ending.