Market Notes – Canola took leadership from Global fundamentals rather than StatsCan yesterday. Completely expected as there was almost no potential for surprise and most see the domestic logjam for what it is, and not a long-term Fundamental factor. Canola, like most US Grains are trying their best to carve a bottom and continue to show the potential for a bounce of some kind – which we plan to sell against. Durum continues to move south as long as HVK and Protein meet spec but some locations are starting to fill down there as well now. Local bids have strengthened to a small degree in empathy – of some kind – to the fact they are losing handling tonnes to the US. Lentils were a bright spot on the StatsCan report yesterday and if they can’t pop over the next 2-3 weeks then our Logistical Quicksand has a firm hold on them too.
Please note there are no other Execution Cycle reports this week due to a number of meetings and housekeeping items. You should all be receiving your February Marketing Report Card packages this week instead to help keep you occupied.
Report Notes – Before taking any Action, you should be viewing the full report and the rest of the Execution Cycle reports for why we chose these particular “Line in the Sand” sales or target levels. How else will you know which side of that line to stand for your farm?