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Starbuck Manitoba Canada | I have been told that canola trades more technically than most other commodities. So with this in mind, I sold this morning. I know I know I should have sold back last fall and was almost ready, but wanted one more small run up near the top of the trading range it had been in for several weeks.
I missed it and watched it drop down near the long term monthly support (around $470/tonne) which I thought would hold. Well, I fell asleep and it blew through the support and continued to drop another $80./tonne or about $1.75/bushel. I have waited patiently for it to get back to the long term support line, and today I said close enough. Go and check out on barchart canola monthly nearest 10 year chart and hold a piece of paper up against it to see what I mean. It may continue higher but considering I grew my best crop ever and most of it had a very good basis, I'm happy.
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Sold some canola today
