Canola had a nice run higher yesterday reflecting both a rally in soybean oil and a slight decline in the Canadian dollar. Nothing really that new in the market so not likely to hold for long. Previous attempts have lasted a couple of days and then collapsed.
If you have old crop canola that needs to be priced out over the next couple of months, treat this as a selling opportunity and stay on high alert with today maybe a good day to do some.
Not as close to the cash market as I should be so will have to seek advice on basis levels. How aggressive are buyers both in the spot market and for forward month basis contracts?
If you have old crop canola that needs to be priced out over the next couple of months, treat this as a selling opportunity and stay on high alert with today maybe a good day to do some.
Not as close to the cash market as I should be so will have to seek advice on basis levels. How aggressive are buyers both in the spot market and for forward month basis contracts?