Soybeans look like they might take another leg up but nov canola has been slow to respond because of anticipated acres going into ground. Used to have a hedge account but no longer in place. Looking to pull trigger on some new crop but a little apprehensive as we had a small yield due to drought and every sale made in old crop was followed by higher prices. My ?? Is under what circumstances would the old crop months be able to pull up the new crop or will this be the norm until weather and growing season starts ? Does nov canola work off dec soy oil ?
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Magpie;
I see this today;
"By Darin Newsom DTN Grains Analyst
OMAHA (DTN) -- May soybeans have just come off new session highs following the release of Sparks Co. estimate for the Brazil's crop at 50.7 million tons, well below their previous estimate of 55.75 mt."
The near by will rise more quickly than the NOV. especially as world stocks are drawn down.
New crop canola Nov will need to be in the production phase it needs to lose actual production... to narrow the spread... same with 04 harvest beans from North America. -
Tricky...
Sparks Cos. Says No Brazil Crop Numbers Released Friday
"Chicago, March 19 (OsterDowJones) - Officials at private agricultural research firm Sparks Cos. said there were no Brazilian soybean crop estimates released Friday by the firm, contrary to rumors that surfaced at the Chicago Board of Trade. (19:21; Story 40935)"Comment
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