Rally Hats

[furrowtickler]

Great wheat rally today , excellent to see 👍👍

[furrowtickler]

Big soybean rally , pulling canola up from earlier losses this morning

[flea beetle]

Great wheat rally today , excellent to see 👍👍

You think this is a 1 and done rally or it has legs. Put a target a little above what I could have got off the combine on half of what I have left. Not sure if I should gamble on the rest, or try price it all.

Grain buyer at elevator I deal with basically said your guess is as good as mine where this thing goes. He did say that funds are covering their record short position, so maybe a guy should just tap out on last years crop and gamble on this years?

[furrowtickler]

You think this is a 1 and done rally or it has legs. Put a target a little above what I could have got off the combine on half of what I have left. Not sure if I should gamble on the rest, or try price it all.

Grain buyer at elevator I deal with basically said your guess is as good as mine where this thing goes. He did say that funds are covering their record short position, so maybe a guy should just tap out on last years crop and gamble on this years?

Ya , it could drop tomorrow hard , who knows

[wheatking16]

Don't trust bear market rallies.

There will be a time, but it is too early.

[furrowtickler]

A few major factors that may sustain a rally somewhat …
- Worst US wheat crop ratings in 60 years
- despite rains in some areas , major wheat producing areas in western Canada are still in big trouble like Manitoba , eastern Alberta and Western Sask . Many areas the rains too late , or still very little
- and then there is this …


After dumping a very large amount of cheap wheat into the market the past 6 months there is a huge very dry area in the main wheat growing regions there .

[agstar77]

I don't care as we will have very little to sell.

[furrowtickler]

I don't care as we will have very little to sell.

Was exactly the same for most of us in 2021 , big rallies with no crop . But no one gave a crap about 80% of western Canada that had nearly no crop to sell . All anyone could do was demonize farmers about high prices when it did not matter to the vast majority of us

[biglentil]

Can't be much of a carry over?

[agstar77]

Was exactly the same for most of us in 2021 , big rallies with no crop . But no one gave a crap about 80% of western Canada that had nearly no crop to sell . All anyone could do was demonize farmers about high prices when it did not matter to the vast majority of us

We also had a short crop in 21. Sold 90% of 22.