Soybeans on a tear

[TASFarms]

Are they going to gap higher early next week? Is canola going to follow?

[wheatking16]

I anticipate Soybeans being lower next week.

[TechAnalyst]

Gaps are tough to predict but market action ahead of Friday's data dump suggest bullish information is coming.

Given the rally already, a 'buy the rumor, sell the fact' type of reaction wouldn't be surprising with a pullback like Trent suggested quite possible.

In the long run, it does look like a rally to try to fill the gap lower to start 2024 (just below $13/bushel vs $11.50 today) may be in the cards. That should certainly get canola going.

My 2 cents...

[ajl]

Well pull back did not last long. Gubmint reporting agencies seem to have it in for farmers on both sides of the border. Soybeans were rallying nicely and then government shut down ends and they dump. Should have kept the shutdown going. However, this am they are up sharply again confirming that the whole "record crops everywhere" is absolute bullshit. There were several widespread cropping problems all over that were totally ignored with the focus on areas that did have good crops. My crop was no record. The USDA did start to bring the BS yields they had down but they still have a ways to go. The bean yield will have decline a lot because double crops did not do well as many areas did not get needed August and September rains to make beans which means single digit yields