Test Technicals wheat canola Test

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Technicals wheat canola

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Landdownunder's Avatar May 18, 2023 | 11:20 1 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 Reply With Quote
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  • blackpowder's Avatar May 19, 2023 | 06:40 2 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? Reply With Quote
    Landdownunder's Avatar May 19, 2023 | 07:20 3 CPAP errr slowly but surely

    Foward prices for wheat and barley here today actually rose. Drought premium Reply With Quote
    blackpowder's Avatar May 19, 2023 | 07:41 4
    Quote Originally Posted by Landdownunder View Post
    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? Reply With Quote
    May 19, 2023 | 07:59 5 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. Reply With Quote
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  • blackpowder's Avatar May 19, 2023 | 09:05 6 Yes, it's the velocity and volume of change that's our new danger. Reply With Quote
    May 19, 2023 | 11:18 7 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). Reply With Quote