Canola Price

[Marusko]

A solemn moment of silence for our brothers who locked the bin doors....

old crop 19.50 a few weeks ago is now hovering under 17.00. Not as bad as it sounds. Only a 12% haircut. Should turn up sometime soon?

Such an interesting chart. Since the crop was harvested, it bounced like a ball off the 790 area, loosing height each time. Just as it's about to settle on the ground at 790, it sinks to a new support level.

[Goodtime]

Rebounding a bit this morning.

[jazz]

You guys have to stop thinking in supply and demand terms. Think more like a big ocean of money sloshing around the globe trying to find a temporary home.

Sometimes thats in commodities, sometimes its in gold, sometimes stocks or bonds. Soft commodities are out of favor right now.

[crusher]

Jazz,

As sad as your statement is, I don't think it's far from the truth. It's tough to make any informative decisions but one has to take advantage when their product of choice comes into favour. I hope canola and wheat come back into the limelight, bins aren't rattling yet.

[crusher]

WHEAT being the winner this morning. Yippee!

[biglentil]

The dollar is poor yardstick to measure the price changes. Cpi has risen dramatically the past few years. Its the purchasing power of a bushel that matters. With the price of iron, rents, inputs, wages way up is $14 like the $10 of old?

Markets often over react when the pendulum swings back it can often over react in the other direction. The war, food shortage propaganda, drought fears got the market in a tizzy until price was stretched all the way out to $26/bus. That pendulum is swinging back and 14 may not be the stop in the short term. Reguardless of supply, in the mid to long term I see a weakening USD and anything not bolted down will rise in dollar terms.

[jazz]

This past couple weeks, the finance sector is under duress, so big money came out and guess where it went, first into gold and then into tech like aaple and tesla. That will rotate out eventually and land back in other sectors again when tech is overbought.

I wouldnt sign any fall contracts no matter what the price is. I wait until June to surmise my year. That is the most uncertain month for commodities and often have a nice premium on them when new crop is being established. I have had the terminal call me too many times in march to sell before seeding and always regret it.

[fjlip]

WHEAT being the winner this morning. Yippee!

Thank Russia, stopping exports because price is too low.

[foragefarmer]

Thank Russia, stopping exports because price is too low.

Sad but true.

[Goodtime]

Canola improving again this morning.

[Partners]

Canola improving again this morning.

17 bucks immediate..yay..

[Goodtime]

$17.50 may