The Good: Well thats more like it! Nearby canola futures closed the day up by C$3.60 t0 C$539.20 per tonne. The move higher is welcome, but there is still concern about the recent volatility in the market. Adding to the concern is that soybean and soybean futures also closed lower in the overnight session. The only saving grace today was weakness in the Canadian dollar.
The Bad: The spring wheat December contract finished essentially unchanged today, but volatility remained high with the contract closing at the middle point of the daily range. Spring wheat remained under pressure today as strong weekly export sales were not enough to offset weakenss in the winter wheat markets. The rains in Kansas have moved eastward, which should decrease the pressure on the spring wheat market, but volatility remains a concern.
The Ugly: The number of COVID-19 cases in the U.S. will move over the 9.0 million mark tomorrow as the rate of infections continue to rise in a majority of states. Equity markets may have been higher today, but the virus will continue to haunt Europe and North America this winter. This means that the economic volatility