Bad day in grain markets

[AlbertaFarmer5]

Personally, I am grateful to anyone who is willing to throw out marketing advice or projections.
It's easy to be Monday morning quarterback, it's a lot harder to put your neck on the line and offer possible future scenarios. All done on the public forum for everyone to see and do be remembered for all eternity.
I'm especially grateful to those who don't hide behind anonymity using their actual names and putting their actual reputations up.

And on that subject, I should go and revisit the prediction I made of the markets bottoming somewhat prematurely this spring.

[Old Cowzilla]

Replacing hailed out site glasses in grain bins this morn from last year hopefully we will need them this year !

[AlbertaFarmer5]

And I should add that I reserve the right to disregard all marketing opinions which run counter to my own personal preconceived notions. And do wholeheartedly endorse those opinions which confirm what I want to hear.
Best advice in the world is useless if I don't listen to it or act upon it.

[AlbertaFarmer5]

And on that subject, I should go and revisit the prediction I made of the markets bottoming somewhat prematurely this spring.

On March 24, I wrote:
After all of the drama that occurred this week, here's what happened to my local prices. CPS wheat up 18 cents since last friday, canola down 16 cents. I guess the world didn't end after all.
I'll go out on a limb and say we've seen the Lows for the year, or at the very least it won't spend very much time below those levels.
At some point, the fundamentals of grains will prevail over the fear of an economic meltdown.
Anything, the fundamentals are more bullish now than they were in March of last year when the market was pricing in the worst possible case scenario, which didn't play out fast enough to keep the bullish story going.

Looks like I'd better not quit my day job to get into the market prediction business. I did go back and find my prediction about the market bottoming on March 24th. Looks like the canola futures ( front month) did spend 27 trading days below the closing price on the 24th. Currently $100/tonne higher than that day.

[fcr]

Durum price is 4 bucks more a bushel than spring wheat today at our local terminal. That’s 160 or more an acre in our area this year .Might be time to quit spring wheat if the crooks don’t want to pay us what it’s worth to grow.