Canola Rally

[charliep]

Just a note to highlight rally in canola today. Anyone with oldcrop still in the bin unpriced should be on high pricing alert (particularly if basis levels are narrow and you need cash flow). New crop is also rallying but remains flat to at an inverse to old crop. A balanced program is the recommendation on new crop with some sold to meet cash flow but a good portion left open until next winter. The tight Canadian canola S&D has potential to create some interesting opportunities in the cash market next winter.