Big Market Moves 👀


Big Market Moves.

(Just...for how long?)

Listen up! Information received from the last USDA S&D update: Soybeans stock-to-use-ratio sits at a tight level of just 6% and corn sits at a more comfortable, but still lower-than-anticipated 15%. The combination of China's massive imports, spec funds looking for a place to put their money, and La Niña weather scares for North and South America and the Black Sea are pushing markets higher.

Canola: Holding its own and riding the coattails of soybeans. The South American weather over the next three months during their soybean growing season will be critical as to where these markets go. There is very little room for them to have crop issues.
There are good prices of $12.00+/bu available now, which makes for a good sale. If you are able to hold on to some, we can see what happens with South American weather and keep in mind that our canola supplies are predicted to be almost depleted by early summer.

Wheat: Major moves this week. The Dec. Minneapolis futures broke above its resistance level of US$5.50/bu on Thursday. The dryness and weather worries aren’t all alleviated and concerns continue for Russia and the U.S. Keep a close watch on all wheat markets.

Barley: Feed bids moved higher this week. There are really good prices available and possibly more ahead. It will continue to be supported by corn (which gained strength from a sharply lower supply revision), our own domestic use and strong export demand.

Peas: Stronger in areas. Healthy bids out there and expected to remain strong.

Oats: There’s nothing earth-shattering happening in this market as supplies are comfortable and demand is steady.

Around the farm: I continue to try and finish up fieldwork and manure hauling but breakdowns are holding us back. Such is life. Next in line, I am waiting for a phone call to move an October wheat contract. In the meantime, I am watching markets closely for signs, downtrends and selling opportunities, while also trying to keep you all in the loop through Farmbucks!

I want to help you find the best possible opportunities to market your grains … find out your break-evens. It’s not a bad idea to make a few sales into these higher prices we are currently seeing. If you’re reading this eNewsletter it means you already have your phone in hand, so take a few more seconds and download Farmbucks instead of seeing what Trump tweeted. You’ll be glad you did :)

Weekly Price Changes:

Canola: mixed bids vs. last Friday. Some higher by $0.10/bu, some lower in months further out

CPSR: up roughly $0.20-0.30/bu

CWRS: some bids are up as much as $0.32/bu (basis levels are changing often, too)

Feed Barley: bids remain strong!

Yellow Peas: higher - check them out

Oats: unchanged




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THIS WEEK'S HIGHLIGHTS
Oct. 12 - 16, 2020
Canola - $12.25/bu April-May - $12.50/bu June-July
2 CPSR 11 - $7.00+/bu March onwards
2 CWRS 13.5 - $7.50+/bu April onwards
Barley - $5.10/bu FOB Oct
Yellow Peas - $8.60/bu Feb-March
Oats 2CW - $3.60+/bu Nov onward
Want us to add bids? Let us know who and where!
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