It's also no surprise that we hit the lowest values in the fall when the bills are due. I want to thank Moore Research for letting me use this chart. It has proven to be a valuable tool for me many, many times. While seasonal patterns in the other grains and oilseeds aren't exactly the same as this one, there's a strong tendency to rally in spring on almost all of them. So far this year, we seem to be following the pattern quite nicely.
Dry concerns hang over certain parts of the prairies, while others are still too wet.
We got off to a cool spring, which pushed seeding back a little. Then, when warmer temps came, they came quickly and started to fuel drought talk among traders. Sure enough, farm selling started to drop off. Speculative funds have been playing canola from the long side. Smaller specs have been covering short positions in the Winnipeg feed markets.