March Canola visualized

**crusher** · Jan 30, 2013, 08:40

Or darn....I sold too soon, good thing there's more in the bin.

**boarderbloke** · Jan 30, 2013, 08:41

Some of that, may have to do with this,

[URL="http://futures.tradingcharts.com/intraday/D6H13"]$CND[/URL]

**checking** · Jan 30, 2013, 08:56

Wow is not an adjective. LOL

However, that is a good looking chart.

**charliep** · Jan 30, 2013, 09:21

Soybean complex is going up as well (actually a rally shared by most commodities). I will note the chart is a 90 minute. Look at the daily and I suspect you will see a pretty firm resistance area. This rally may have broke it but it needs a few days of firm closes above. Would also be watching futures spreads (particularly the March/November) and basis.

Perhaps the most amazing thing to me is the Dow Jones. As negative as everyone is, the index keeps chugging higher. You can thank me because I sold some stocks early in January so that was a very sign things were going higher. The second most amazing market is crude oils. Holding above $95/barrel. This would be another reason the vegatable oil complex/canola is getting dragged higher.

My only comment for the bulls is "You live by the sword, you die by the sword". You don't get to brag until you sold canola/deposited the money.

**ColevilleH2S** · Jan 30, 2013, 09:22

Thanks for checking that Checking.LOL Is Moonshot an adjective, or is it only a noun? I never did pay attention in English class.

And BTW the CND dollar has been trending up since the 24th. So I speculate it has more to do with crushers feeding their plants, and the story below this thread mentioning South American logistics issues.

**SASKFARMER3** · Jan 30, 2013, 09:36

Dry for next while in Argentina. Mata Grasso Getting pounded till 5 th of feb in monsoon rains. Their ready to combine. Trucks and driver safety new rules so you don't have guys driving day and night to get to port, taking drugs to sleep and stay awake, or drinking. Ok as much.
USA still not really wet.

**errolanderson** · Jan 30, 2013, 09:45

March is breaking current chart resistance
in the $620 - $621 range today. Close will
be important today. Risk on fund buying
appears to be key driver.

Guys . . . keep an eye on Nov.

This is a fund rally with a massive South
American crop on the doorstep . . . .

**bucket** · Jan 30, 2013, 09:52

errol

I was just going to ask, if this a blow off should a guy get more sold into new crop?

**errolanderson** · Jan 30, 2013, 09:57

bucket . . . good question.

To me, this is a fund buying inspired
rally. South America is now in full-
blown harvest mode and China will swing
sales to them. Bullish technicals though
suggest this rally is not over. March
soybeans to $15/bu?

Nov canola appears poised to take a stab
at $570/MT and there are some analysts
suggesting $580/MT.

IMO this is an old crop pricing
opportunity. New crop is more difficult
as the market really doesn't know where
our acres will be this spring.

March Canola visualized