Canola Price

[Guest]

Price slowly going down.
Farmers keep selling.
RP 19 buck premium was full in a
Blur.
Best when train coming, and they need to fill.
Sounds like lots of 27 dollar canola still in the bins also..

You had it right in the fall , Me, not so much !

[Guest]

86 degrees in the water, reef is great
Dive on !

[Marusko]

dropped my target, sold at 829, basis got me to 19.50, pretty good price still. i'm sold out now. time will tell if that was wise or not but i've got a feeling there's lots of canola in the bins yet. So far have lost on my gamble to hold on to wheat, waiting for more ukraine war disruption, so i cashed in my canola.

[Marusko]

If you're pooping your pants on canola's swing down this week, there may be hope yet:



https://marketsfarm.com/confirmation-of-large-canola-short-position-slowly-appearing/?_ga=2.209515157.625519779.1678478549-1171420672.1678478549&_gl=1*d7kcgn*_ga*MTE3MTQyMDY 3Mi4xNjc4NDc4NTQ5*_ga_ZHEKTK6KD0*MTY3ODQ4NjI5My4yL jEuMTY3ODQ4NzIyMy4xNC4wLjA.

what century are we in? This site doesn't allow you to put links in????

[LWeber]

If you're pooping your pants on canola's swing down this week, there may be hope yet:

The size of the fund short position in canola rose in February and likely grew even larger in March

You think funds are selling the s/hit out the market and hoping it goes up?

[jazz]

The size of the fund short position in canola rose in February and likely grew even larger in March

You think funds are selling the s/hit out the market and hoping it goes up?

Commodity manipulation on the comex is a tried and true practice. Been going on for decades. Look at gold.

I wouldnt get too panicked yet. The short sellers were targeting NG a few days ago too and they got burned.

Same thing probably happens to canola and gets a rally. But if you see one, I would be a seller for sure. Be a nasty recession on the back half of the yr.

[shtferbrains]

i think the link says the short options on canola are nearly the same as as the calls on corn and beans combined?

That cant be a good thing for farmers holding inventory?

[Partners]

Where are the chart boys?
No end in sight for the free fall.
Or did all burn their charts

[Marusko]

[ATTACH]11948[/ATTACH]

Well Partners, I posted the above on Feb 7, and would you believe it, March hit 852 on March 1st-3rd, at the tip of my upper boundary line. and then turned around and took a dump. Didn't quite hit my 855 target but I ended up selling at 860 net, and that apparently was a good choice.

The size of the fund short position in canola rose in February and likely grew even larger in March

You think funds are selling the s/hit out the market and hoping it goes up?

not saying there's not more downside to come, but the article says it's the largest net short position since March 2020, does that mean nothing? If they're selling short, they're going to have to buy back eventually... maybe a turnaround in spring/summer when the weather market comes into play? Maybe won't hit 852 again but if I still had canola to sell I would be holding and not panic selling right now - that's my point. May/July '23 hovering at 755 today

who knows, maybe come fall, 755 will be a dream

[Partners]

So how far will it fall?