Wheat

[furrowtickler]

Decent run this afternoon in wheat market

[wmoebis]

Any word on what US grain company is making the sales to China? Any of them in Canada buying either up front or as a third party?

[flea beetle]

Any word on what US grain company is making the sales to China? Any of them in Canada buying either up front or as a third party?

Haven’t heard anything on that front, just that China made their largest single purchase since 2014, and that they are likely to keep buying. Apparently their wheat crop got hammered with rains and is severely downgraded.

[AlbertaFarmer5]

I also read that the wheat is originating from the Gulf Coast. Meaning that it needs to transit the Panama canal, somehow.
This bottleneck at the canal due to drought is eventually going to be helping the competitiveness of Canadian grain vs Gulf coast, or South America.

[flea beetle]

I also read that the wheat is originating from the Gulf Coast. Meaning that it needs to transit the Panama canal, somehow.
This bottleneck at the canal due to drought is eventually going to be helping the competitiveness of Canadian grain vs Gulf coast, or South America.

Apparently they will be throttling traffic through the canal even more in December than they already have been doing due to the drought.

[Jay-mo]

Don't trust bear market rallies.

So what your saying is when there's a one day rally, sell something?

[furrowtickler]

So what you’re saying is when there's a one day rally, sell something?

Been 1-3 day rallies at best then it falls back since harvest
but at least it’s holding somewhat. Canola been on a sinking submarine for a long time

[Jay-mo]

Anyone know why soybeans are holding up vs canola? Close to $2/bushel more then canola here.

[AlbertaFarmer5]

Anyone know why soybeans are holding up vs canola? Close to $2/bushel more then canola here.

Meal has been the story, not oil. I'm not sure that it makes sense, but the story is that the shortage of soybeans from Argentine crushers is driving up demand for meal. Which is flooding the market with excess oil as a byproduct.
So much for that renewable diesel story where the demand was going to be for the oil, and meal would be the by-product.

[wheatking16]

So what your saying is when there's a one day rally, sell something?

It is not that simple, but identify levels where there is a supply of sellers and sell on weakness or exhaustion of the move.

[AlbertaFarmer5]

Been 1-3 day rallies at best then it falls back since harvest
but at least it’s holding somewhat. Canola been on a sinking submarine for a long time

Actually, wheat just finished an 8 day rally. Before taking a two day pause. The last time wheat had a longer consecutive run was nearly 40 years ago in 1986.

[Blaithin]

Check your bins before getting excited about a rally. Rusty’s and heated are making more and more frequent appearances. Nothing worse than the balloon of a mediocre trigger getting popped with a heated diagnosis.