Diggin' up top offers.
(Get the dirt on prices.)
Well, I found a hoe! (don't get too excited, it's a rental). We are taking this thing everywhere and digging up shallow dugouts, big tree stumps, clay for fill and even cleaning up fencelines. This thing is handy as hell, kinda like the Farmbucks app (you knew I was going to say it)! These days it seems like there is no “off season” in farming.
We are going everywhere to uncover your top deals. We are searching high and low. We lay the groundwork to help you capture the best value for your grain, just like what me and my hoe have been doing all week!
The to-do list shrinks but never actually is fully complete. It is the same story with your marketing because there is opportunity knocking almost every day. With wild world markets, geopolitical events and even domestic policy to contend with, any day could be a winning day for you. The easiest way to be a winner and cross off “get all my prices this year” off your list is with us—a very affordable app with free canola bids 365 days a year.
Weekly Market Recap:
This past Tuesday the USDA released its WASDE report which spurred some negative action in markets. It raised its soybean and corn production which spilled over and put pressure on the canola market. World wheat ending stocks, however, were tightened to be even smaller which did provide support.
Deals of the week: $12.00+/bu CWRS,
$21.20+/bu canola, $8.50+/bu oats, $42.00/bu flax
Canola: Canola is hanging in there but did end slightly lower this week compared to last. The vegetable oil markets are holding steady this week but with this Tuesday's WASDE report releasing larger soybean numbers and an increasing CDN dollar, canola was pressured down. The good news this week is that China came in and bought a bunch of U.S. soybeans to provide support. Today, we are finding buyers release $21 'canola specials', but many offers can be found above that.
Wheat: Up and Up! Milling quality wheat is in low supply and the Minn. wheat futures markets are on a steady incline and is making some new highs. This is definitely one to watch! Right now the trend is our friend (moving up) so let's see where this goes.
We are finding many $12/bu CWRS offers for that Nov.-Mar. timeframe.
Barley: Barley bids are holding strong right now. Caution though, barley demand may subside as corn enters Canada in the coming months and corn harvest pressure sets in. Corn futures were hit hard after Tuesday's report of high production estimates but is recovering some of those losses today.
Peas: Nothing too exciting to report here. Haven't seen much action on them this week.
Oats: Oat futures were on a rollercoaster ride this week. They flew up making new historical highs before dropping way down. Today, Dec. is posting limit up. It's not quite reaching the high of 686 it made this Tuesday but landing at a respectable 660 today (which is slightly above last Friday's close). On the cash bid side, we see bids strengthening even more. I've heard rumors there's still lots of room for them to move up still. Oats are in extremely short supply and even at $8/bu the price increase that consumers see is negligible. I have seen bids strengthen even more this week. $8.56/bu oats are available in Manitoba.
Around the farm: This week's highlight … what else? Playing in the dirt! The boys are loving it, too. This is the fun work. It's almost a stress reliever. We are nearing the end of our heavy workload. The weather has been abnormally nice and it allows us to hammer down on projects that we have thought about over the past few years. Besides playing around on the farm, we have also been looking at making some canola seed bookings and had a few reps reach out this week. I'll admit I don't have it all figured out just yet but am at least signed in for the early booking programs. Question to all of you: what's your favourite Roundup Ready straight cut canola? I'm typically a Liberty Link lover but I have a few fields with heavier wild oat pressure, so I am looking to use a RR canola for better control.
On another note, a buddy down in southern Saskatchewan had ordered a load of diesel and it was $0.91/L. I just checked my local price and it’s sitting around $0.99/L. FYI, I had received a quote a couple of weeks ago from UFA to forward book next year's diesel requirements and it was $0.9769/L (without the additional $0.08/L tax) for next spring/summer delivery. I didn't take it but will let you know if I see any better opportunities come my way.
Also if you know anyone looking for a couple of beauty 4WD tractors, I have two for sale. A 2018 JD 9520R and a 2021 NH T9.565. You can find them on Kijiji or just email me for the links.
That's it for this week. Have a great weekend!