Canola Rally

[crusher]

Up $22/t. I'm going to reward the market a little.

[furrowtickler]

Up $22/t. I'm going to reward the market a little.

Ya it’s time to look at moving more
was watching the US wheat rally last night and was hoping something positive today

[ajl]

Markets figuring out that last years crop not as big as they were saying all winter? Going to need significantly higher prices to deal with the small upcoming crop. Sprayed canola last evening. Conditions ranged from not bad to very sketchy thanks to the spring flood. Now when the crop needs moisture, we are dry. Last significant rain was June 14. Got a shit shower not long after finished spraying.

[furrowtickler]

Drove through several downpours from Edmonton home yesterday

[Sodbuster]

Canola market was up $30 at one point overnight, canola playing catch-up with soyoil being up $2.50 over last 2 days, probably a bit of a weather premium in canola action as well.

[wheatking16]

I find it interesting how we (humans) look for catalysts of a rally in the news when last week's Canola charts prepared us for a bounce at the 610 level.

[jazz]

Canola market was up $30 at one point overnight, canola playing catch-up with soyoil being up $2.50 over last 2 days, probably a bit of a weather premium in canola action as well.

No weather premium. No supply demand change, just money sloshing from one sector to another. Called a July rally 2 weeks ago.

[errolanderson]

ICE CANOLA BREAKING RESISTANCE. Rising trading window.

[furrowtickler]

I would think canola yields in western Canada will be 30% lower than last estimate 2-3 weeks ago, and dropping daily now

[ajl]

Saw lots of canola fields in central AB yesterday that made me feel better about my own canola. Canola surplus is gone. Flood and a drought in the same year. Who would have thunk it?