Canola turns around this morning from being down $5.20, MAR-JULY spread opens to $25.00 as I type.
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well,,,that didn't last long! Is it fatiguing, or profit taking before Friday's USDA report and the Chineese New Year next week? anybody?
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Still going off the March contract as well. Will flip to the May I suspect shortly. Watch the basis when they do the roll. Will be interesting how the March/May spread works through the system as the companies change their pricing feference month from March to May.
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ya charlie, I've been carring that thought about MAR droping off, anyone of these days. Got brunt a couple years back when they those to change alittle earlier than usual. Took awhile to make up the basis differance.
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