Canola Price

[Old Cowzilla]

G3 seems to be a top notch operation in general everywhere, helps that almost all the facilities are brand new.

We have a couple of newer ops in the area but engineers where not consulted before building ( cough cough P+H cough cough ) .

[Goodtime]

What is causing the price to tank?

[fjlip]

Too many farmers priced, crushers full, funds taking profits.

[Partners]

From bunge rep..

[TASFarms]

From bunge rep..

So no need for price to go up seeing they are always bought up

[ajl]

So no need for price to go up seeing they are always bought up

Lol. Grain buyers only see record crops and never any need for the price to go up. Right now they are likely correct. Wish I made more sales in Dec for Jan/Feb movement. China's economy is sinking and they are able to access discounted Russian commodities (up to a volume determined by constrained shipping avenues) so likely a bearish factor. Truck was heavier than I though this morning so ended up selling spot wheat today.

[errolanderson]

An opinion, canola now technically oversold.

Argentina rain appeared a key factor plus quiet China business this week for Lunar holiday and long liquidation. Panic selling is never fun to watch, but it is a short-lived emotion. Emotion makes for volatility.

[errolanderson]

Technical Selloff Tip: Growers / Feeders note . . . . When commodity futures go into-a-dive, the technical chart recovery is often seen between 50 to 66% of the drop before key resistance seen again. But this also suggests the overall trading window (range) is now lower.

[wheatking16]

I don't focus on volume.......

Until there is a price drop, then I search for signs of a reversal.

Any sign.

This move down has been on declining volume.

For what that is worth.

I also have 780ish as an import level, so...

[errolanderson]

The closing bell battle at $800/MT today, chart resistance or support . . . . Big picture range now $770/MT to $830/MT? Pick em . . . .

Crude oil and loonie may have a say . . . .

[AlbertaFarmer5]

The closing bell battle at $800/MT today, chart resistance or support . . . . Big picture range now $770/MT to $830/MT? Pick em . . . .

Crude oil and loonie may have a say . . . .

It always amuses me how much power these round number psychological levels can have. Considering that it's a purely arbitrary unit of measure in a purely arbitrary currency, and in this case, most of the market participants are using a completely different unit of measure.

[WiltonRanch]

Thanks Errol and Wheatking for your insights and knowledge. Should have sold more at 19.70 but was incremental selling into a rising market. Wheat you had mentioned earlier canola would top $860 $870 before dropping off. Shoulda woulda coulda.

[Goodtime]

Canola market right now is definitely not for the faint of heart.

[Partners]

Viterra has a premium for feb canola.
$18.00..wow empty the bins..
Let the teasing begin.

[Goodtime]

Viterra has a premium for feb canola.
$18.00..wow empty the bins..
Let the teasing begin.

Ha ha ha yep I received that text.....of course limited tonnes....limited time....limited.....