Get first dibs.
(On bids and turkey!)
My, oh my. Markets are crushing it and pulling through, in a good way this week. Numbers below may be hard to believe, but I assure you they are real! Although crops aren’t anything to brag about in most places, these historic price levels will help soften the blow. Be sure to get in on the action. I have a feeling, we will be talking about this harvest and these prices for years to come.
While we’re talking, let’s talk post-harvest marketing. We all know it’s something that must be done, for the portion(s) of our crop not already contracted. It certainly makes it a bit easier when the numbers generally trend in the right direction. But no matter which way the market is headed, we have you covered. Farmbucks collects all the bids—good, bad and ugly—and puts them right in front of you. You can only make a decision for yourself, so, what is right for you in northern Alberta may not work for southeast Saskatchewan, but still we promise to always show exactly what is occurring in the marketplace. Want a reason to be thankful this October? How about Farmbucks working hard for you 24/7/365!
Weekly Market Recap:
This week the markets climbed. Canola is trading near its summer peaks, oat futures keep rising to new highs and Minn. wheat breaks above resistance. Food vs. fuel is what has these markets pushing and pulling.
Deals of the week:
$12.00+/bu CWRS, $21.50+/bu canola, $7.75+/bu oats, $42.00 flax
Canola: Canola makes gains this week. It's back up trading at the upper range and trying to reach the spike highs we saw in mid-July and mid-August. Tight supplies and rallies in both energy prices and vegetable oils are helping canola reach higher.
Bids are now reaching over $21.50+/bu.
Wheat: Rallying. Minn wheat is the strongest of the three and managed to break above resistance levels. This is a positive and is now in a position to rally sharply.
This week we are finding bids reach $12/bu for CWRS. Durum specials of $21/bu are out there too.
Barley: Barley bids remain strong. Canada has record volumes of corn on the books due to our tight feed supplies. Corn is getting a lift from high energy prices as much of it is used for ethanol.
Peas: The pea peak may be behind us. Pea markets remain pretty quiet, that is until someone comes knockin’ on our door for more. Still there are decent prices available.
Oats: Oat futures just keep on climbing. As mentioned before, this market is strong and expected to remain that way. Oats are in extremely short supply. I have seen bids strengthen even more this week. I've heard rumblings of $8 oats being available in certain locations.
Around the farm: I'm feeling much better after battling COVID last week. What remains with me now is a cough. Hopefully that goes away soon! The highlight of this week was definitely finishing harvest. We went and got the last of the “scraps” on Monday (see picture above for an idea of what I had to go get). After that, we worked on getting some harrowing done and blowing out/cleaning the combines. We go them nicely tucked away in the shed and decided to get away for a couple days. So, I hopped in our little plane with my hubby and we took off to a Northern Saskatchewan cabin for a couple days for a much needed break.
I hope you can all find time this weekend to enjoy some time with friends and family and enjoy some turkey! There's always lots to be thankful for.