Originally posted by farming101
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I priced out most of the old crop last week or so.
Specialty canola with a locked in basis and open futures.
My theory was the canola market would see pressure from the looming spring thrash.
Who knows? I felt the local basis' could get hit but the futures might do it's own thing(more things affecting it than local backyarditis).
Futures up about twenty cents a bushel in the last two days but today isn't over yet either.
Alot of spring thrash canola will be looking for a home quickly, cash flow and people will just want to get rid of it.
I thought it would trade range bound to lower. But could you say the last two days have broken out of the range of the last 8 weeks?
Where does it go from here?
In my opinion "posted" local cash bids and future delivery bids aren't "stellar", basis still kinda wide in some locations and months(read the signals). Sometimes phone calls even reveal a different story. "Market" your grain....
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