Not your average recession . . . .

[errolanderson]

Good news, recession cutting fuel prices. Gasoline prices on a slippery slope. Wholesale prices remain in downtrend as recession deepens.

Crude oil a ticking clock for sustained selloff (IMO). Key WTI support seen technically approaching $73.50 per barrel.

[biglentil]

If you didn't blink in 2008 you could of taken advantage of lower prices only if using the current formula for calculating cpi and not the 1980 cpi calculation methodology.

Errol general price levels need to retrace approximately 26% for the cpi to be equivalent to Jan 2020. You've been calling for a massive deflationary event for many years longer than that only to watch the purchasing power of savings obliterated.

One thing we can probably agree on is that the can can be kicked no longer.

[TASFarms]

Fdic closes another bank on a Friday

[TOM4CWB]

Both Trudeau and Biden are kicking our economic butts…. And our Children’s Children… … we A R E the passive good natured… Lambs being led to the….

Blessings and Wisdom

[furrowtickler]

Biden and Trudeau are putting the middle class into the Stone Age for the next 25 years . And their followers are like a bunch of goats bleating to their overlords. It’s sickening.

[errolanderson]

OIL PRICE SWOON: WTI oil breaking below $79 per barrel overnight. Break below $80 technically significant. Major support approaching $73.50 per barrel (IMO). U.S. gasoline now at 8-month low. Diesel fuel prices also sliding.

OPEC appears losing control as production cuts no match for for record U.S. oil production and failing China oil demand. Recession deepens. Errol’s Commodity Wire

[Taiga]

Diesel still going higher in Canada, not sure what is pushing it. Edmonton rack at $1.379 today.

[foragefarmer]

WTI $78.34/barrel, two wars going on and other conflicts that don't even make the news anymore, and still no $200.00-$300.00/barrel for oil in sight.

Errol, as for farm commodities there was chatter a year or two ago on Agriville about $53.00/bu. canola. Do you see that happening say maybe within now 6 years? I know that's a long way off, but there were those who were confident of it happening.

When making a farm business decision, do you think it would be wiser to store your canola possibly that long with the hope it hits the $53.00/bu, or selling and putting your money to work right now?

I guess with money on hand, the Dow and Nasdaq which have had a great ride the past week now that it's possible interest hikes are in the rear view mirror could have had a positive return. There's also the option of 5% interest being paid by many financial institutions.

Or like the old saying goes "cash is king" for purchasing local farm land could be wise when it comes up for sale.

Errol what are your thoughts, putting the cash to work right now or storing canola for 6 years?

Always looking for feed back from a market analyst.

[BreadWinner]

Did you say store the canola for 6 years, what have you been smoking?

[errolanderson]

Diesel still going higher in Canada, not sure what is pushing it. Edmonton rack at $1.379 today.

Hopefully, western Cdn rack prices will come down within a few days. Stateside, big drop in diesel prices. Futures have tumbled from $3.05 toward $2.80 per gal over past week. Natural gas also in a dive.