Just curious if anyone else is following the corn soybean price ratio? Soybeans seem to be the ever ready bunny of crop prices lead by meal. Soybean oil a dog/lacklustre price and an ugly chart.
My issues. Will the current rally in soybean pull more US acres out of corn?
I also am watching the November canola chart with a fairly predictable trading range of support around $470/tonne and resistance $495 to $500/tonne depending on your read of the chart.
Top end of the chart and a reasonable basis will put you mid $10/bu across the prairies. This would have my attention for planned fall deliveries.
Others thoughts.
My issues. Will the current rally in soybean pull more US acres out of corn?
I also am watching the November canola chart with a fairly predictable trading range of support around $470/tonne and resistance $495 to $500/tonne depending on your read of the chart.
Top end of the chart and a reasonable basis will put you mid $10/bu across the prairies. This would have my attention for planned fall deliveries.
Others thoughts.