Technicals wheat canola

[Landdownunder]

Admit i know zero about this side of futures.

But have technical levels on down side been breached?

Or we havent reached key support levels yet?

All i know its darn dry and a falling market not good combination doubting drought basis will help.

oddly in australia barley holding up well price wise

[blackpowder]

Do not do what i do....
I'm increasing wheat sales today if steady. Much more downside risk than up. Seasonals over i think...
Hopefully moving to 40-50% sold physical with a very few earlier put spreads left in place. Covering production risk later maybe with a few call spreads but feel safe at 40%. Obviously different timing.
Canola nothing done past the 20% months ago.
How's your CPAP machine working out?

[Landdownunder]

CPAP errr slowly but surely

Foward prices for wheat and barley here today actually rose. Drought premium

[blackpowder]

CPAP errr slowly but surely

Foward prices for wheat and barley here today actually rose. Drought premium

I really hate mine but need to use it.
Basis narrowing?

[crusher]

I think politics and managed money are trumping technicals these days. I note almost all commodities were down yesterday and fortunately nearly all up this morning. As always, have a plan, set some targets, and hopefully you can make a profit in these turbulent times. I've gone from way, way too much inventory down to just too much inventory.

[blackpowder]

Yes, it's the velocity and volume of change that's our new danger.

[errolanderson]

Commodity fallout is becoming broad-based as deflation digs in . . . .

Central bankers totally out-of-touch with market reality. Gold prices now in-a-slide as inflation fades. Rate cuts ahead, when policy panic finally sinks in (possibly this summer). Gong-show ahead (IMO).