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Nov19 soybeans

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  • Oilking
    Member
    • Dec 2013
    • 64

    Nov19 soybeans

    Just hit 9.18. Up another 12 cents today. Pretty nice rally the last couple days. Is this gonna hold and continue ? Should support canola too. Farming 101, Macdon, Errol, what do u think ???
  • macdon02
    Senior Member
    • Sep 2007
    • 1858

    #2
    Originally posted by Oilking View Post
    Just hit 9.18. Up another 12 cents today. Pretty nice rally the last couple days. Is this gonna hold and continue ? Should support canola too. Farming 101, Macdon, Errol, what do u think ???
    929 is my target

    Comment

    • farming101
      Senior Member
      • Mar 2011
      • 3953

      #3
      Originally posted by macdon02 View Post
      929 is my target
      There is a limit. Might be a little higher than 9.29. One chart indicator is saying ZSX could stall out right here. The dire forecasts for sub 8 beans on the board are no longer heard. (Bids for beans at elevators across the border are just under $8 USD)

      Can't hurt canola but it's bean meal over oil right now.
      If veg oils take another stab at some higher levels it would have more influence on canola. There is a possibility.
      Until harvest resumes in W Canada canola should find support in here. When it resumes I don't think cash bids will go much higher short term. After the second winter starts who knows? Just under $10 now at the plant for Dec delivery, self haul

      Comment

      • sumdumguy
        Senior Member
        • Mar 2007
        • 11966

        #4
        Soybeans the Cinderella crop of the year? I sure haven’t seen many soy fields this year around here. Anyone else care to chime in?

        Comment

        • bigzee
          Senior Member
          • Nov 2010
          • 1113

          #5
          Originally posted by sumdumguy View Post
          Soybeans the Cinderella crop of the year? I sure haven’t seen many soy fields this year around here. Anyone else care to chime in?
          Hard enough time growing durum and wheat this year, besides some exotic crop like that.

          Comment

          • farmaholic
            Senior Member
            • Sep 2010
            • 17471

            #6
            Originally posted by bigzee View Post
            Hard enough time growing durum and wheat this year, besides some exotic crop like that.
            Actually the harvest window for those things was really only supposed to be opening about now anyway.
            If the area results were a little more positive I think I'd be growing them. Perfect way to spread out harvest.
            Peas( if you can successfully grow them) in the beginning of August to Soybeans in October and if you really want to drag out harvest do some sunflowers or corn.

            Bet they're all still standing up after the snow too, sticks with pods on them.
            Maybe some next year. Maybe.

            Comment

            • bigzee
              Senior Member
              • Nov 2010
              • 1113

              #7
              Originally posted by farmaholic View Post
              Actually the harvest window for those things was really only supposed to be opening about now anyway.
              If the area results were a little more positive I think I'd be growing them. Perfect way to spread out harvest.
              Peas( if you can successfully grow them) in the beginning of August to Soybeans in October and if you really want to drag out harvest do some sunflowers or corn.

              Bet they're all still standing up after the snow too, sticks with pods on them.
              Maybe some next year. Maybe.
              Not here!
              At my age I want to keep things simple. 😉

              Comment

              • furrowtickler
                Senior Member
                • Dec 2004
                • 21855

                #8
                My soybeans made maturity, except for a few strips of 00 maturity ones .
                Won’t know for sure till we get at them but they should be much better than last year
                The 0007’s and 8’s have been mature about a week now .
                Combine will tell
                Tomorrow morning will finish them off lol

                Comment

                • FarmJunkie
                  Senior Member
                  • Feb 2018
                  • 915

                  #9
                  Finished ours just before the snow storm and they weren’t as good as we hoped. Need 40 bushels to make decent money. They are a crapshoot most years. Some u win some u lose just like most crops. Peas are still a better fit for most areas. We locked in a few loads for just under 10 and just over 10. Wasn’t available long but glad we did.

                  Comment

                  • TechAnalyst
                    Senior Member
                    • Nov 2017
                    • 297

                    #10
                    If you don't mind, I would like to throw my two cents worth in.

                    Now that the market seems to be done reacting to the report, it could well drift back toward support in the $8.90 to $9.05 region.

                    Longer term however, there are chart formations that suggest a move over $10/bu should be in the cards yet this fall. An initial target of $10.07 and a secondary one at $10.41 to be precise.

                    This should help canola but strength in soybean oil will be important as well.

                    Comment

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