Bipolar Markets.

[farmaholic]

Give them some meds.
Over reactions
Volatility equals opportunity?\
I only sell physical...not a paper trader.

[Partners]

You are right..Soon as something in the world Twitches...Grain price have to go down first..

[furrowtickler]

Agreed - sad to see how any event like that drops grains and oilseeds 👎

[Oliver88]

I don't think Brexit was a canola factor, it was on a 2 week slide and lost close to $1/bushel as of yesterday.

IMO, this was just a bunch of overblown media hysteria due to their preference of the UK being in the EU.

Today, Canola up $10, Soybeans up 30 cents, Wheat down.

[hobbyfrmr]

I agree wth partners.

[errolanderson]

Spring soybean/soymeal rally was driven by fund money flow. This was the key spark for $12 canola bids. Fundamentals did not justify these gains.

Sell-off triggered well before Brexit .. . .

[farmaholic]

Wouldn't it be fair to say canola markets are over sold? RSI is below 30. BUT I'm sure there are a myriad of other technical indicators that can justify where it is, only problem is I know SFA about them!!!

I'm all ears, no really, I have big ears!!!

[HappyFarmer]

I disagree Erol...

I mean think about it....16.75 million mt of canola we have used already.

There is 5 weeks to go and we should easily pound another million tonnes through the system.

Think of it this way. We have already used 18.5 million acres at 40 bushels/acre already....and.5 weeks to go.

And how cheap does canola look compared to soybeans today...

OK, I get it, maybe the funds needed to take a breather but based on the about way wouldn't they long 42000 contract.

Lots of weather in front of us yet.

[Braveheart]

I agree Happy. Plus if we get another higher close in beans those computers will fire off a buy signal and away we go again. This market will be volatile until its close to the bin.

[iceman]

Hate to be a bull here but

The trade expects 20 million shh seeded acres for the stats can seeded acreage number on June 29. Is this even possible? pulses stole the bulk of the canola acres out west and south and with mustard contracts the way they were in the spring they also picked up acres. Some other area would need to make up for those lost acres. Who knows maybe we are in for a wild day

Also the lentil number maybe interesting

Iceman Out