Originally posted by jazz
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Wheat and canola on a good run today, let’s hope commodities follow through on Monday, hoping my calls don’t expire worthless. Tuesday looks like our best chance of rain, if we miss that there’s going to be a lot of farms feeling the pain. You just have to hope you’re not the small pocket not receiving rain and have grain prices drop. Even with this rain we will be in a claim position, it’s just a question of how much.
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I think the market is finally factoring the drought in the US and Canada along with the Ukraine situation. Lots of farmers have also locked their bins for now and waiting till after harvest. Normally this rain in July would have triggered a huge drop in prices instead we have a lot of green this morning, Sometimes rain doesn’t make more grain.
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