Market sentiment

[blackpowder]

What's everyone's sentiment on canola or wheat?
Canola basis should improve.
Charts suggest some optimism.
Still some naked in the bin.
Half covered by put spreads costing $5.
Wheat boring as usual but hoping for seasonality again. Remaining inventory naked, no positions.
Fully aware market doesn't care what I think. Just curious if everyone neutral, bear or bull.

[cropgrower]

i will keep my marketing to myself because forage will be on in 6 or 12 months time telling me what i shud have done different

[goalieguy847]

I cant say i agree with canola basis improving. Shes all marketed out of winnipeger so canola basis is strictly based on elevator/ crusher wants and needs. Wheat basis however, should improve when our dollar plunges down vs usa.

demand however? No clue.
what happens to the oil complex if oil drops or if it skyrockets?

I just cant see canada shutting off the taps here.

[goalieguy847]

I cant say i agree with canola basis improving. Shes all marketed out of winnipeger so canola basis is strictly based on elevator/ crusher wants and needs. Wheat basis however, should improve when our dollar plunges down vs usa.

demand however? No clue.
what happens to the oil complex if oil drops or if it skyrockets?

I just cant see canada shutting off the taps here.

[wheatking16]

Here is the SK Canola Basis chart we use for trend identification.

[wheatking16]

CWRS SK Basis chart