RSF9

[farmaholic]

101, why did(does) the current month adjust higher like it did. Rhetoric?

[beaverdam]

Reflecting immediate demand.

[farming101]

It is the front month but not really the current month.
January is "in delivery" meaning it's winding down and contracts are being squared away, sometimes with unexpected price moves.
Interesting that the CGC report covering the two week holiday period showed ending stocks of canola in the system at 1,090,700 tonnes. I call that pipeline levels for this time of year

[Agvocate]

Jan has 52 contracts of open interest this morning, vs. 114,000 contracts open in the March. Once in delivery and that little open, moves can be dramatic on as little as one contract. Price discovery for nearby would have been March futures for a few weeks now.

[farmaholic]

Apologies for the previous wrong terminology.
I figured the market would be working off March already but this a.m. saw a good swing up in Jan. and wondered why.
Someone get caught short?

I would like to see canola lose it's ball and chain. How much longer before it makes a break for it.

[Guest]

Apologies for the previous wrong terminology.
I figured the market would be working off March already but this a.m. saw a good swing up in Jan. and wondered why.
Someone get caught short?

I would like to see canola lose it's ball and chain. How much longer before it makes a break for it.

Im counting on your 12 bucks !

[Oliver88]

Im counting on your 12 bucks !

I’m thinking a China-USA trade agreement will get Big Pharma and us $12 canola.

[farming101]

Not hopeful right now for $12. A full blown drought by July might do it.

[Guest]

Actually hopin for $11, lol

[farmaholic]

Not hopeful right now for $12. A full blown drought by July might do it.

What other fundamental factors could push it there?

The first two weeks last August had May and July futures fluttering around $525/tonne. $529.10 w/o a basis is $12.