(Uncover the golden egg.)
The hunt is never over. Whether you have crop sitting in the bins or new-crop going in the ground, price hunting and knowing your markets is worth every penny. We just made it a little easier for you! You may have noticed recent changes to our website and app. Well, good news! More are on the way! It's now a little easier to manoeuvre around especially on mobile devices! We want you to have the best Farmbucks experience and find your best-selling opportunities that work for you and your farm.
If you don’t already know what I’m talking about, download the free app and get price hunting today. It’s just as easy as finding those Easter eggs you hid! Except these ones pay!
Weekly Market Recap:
Markets are closed tomorrow for Good Friday. Markets re-open Sunday night.
Deals of the week:
$27/bu old-crop canola, reaching $24/bu new-crop canola
$14/bu old-crop CPSR and $13.75/bu new-crop CPSR
$14/bu new-crop CWRS
Canola: Another strong week, especially for old-crop futures. November canola just keeps going higher and higher and is closing in on the new- to old-crop spread. You can see that the market is shifting its concerns over to new-crop supply and demand. As mentioned last week, StatCan may lower our canola acres slightly this year which would be supportive. There is still, of course, always uncertainty over how Mother Nature treats us all this coming year.
New-crop soybeans are trying to go higher but do not have any current news to make them noticeably shift in either direction yet.
New-crop canola keeps gaining with prices reaching for that $24/bu mark.
Wheat: A little bit of profit-taking ahead of the long weekend, but wheat futures gained more ground this week with continued supply uncertainty. Looking across new- and old-crop futures, there is hardly any spread. Like canola, new-crop wheat futures have been making bigger headways than old-crop.
This week, it seems a little more certain that the war will not be ending any time soon with Putin stating that peace talks are going nowhere and are "at a dead end." World trade is beginning to change in that countries looking to buy grain, are excluding Russia from tenders. The dry long-range forecast for the already parched U.S. Southern Plains is also supporting wheat markets.
We will see if the nearby Minn. futures will attempt to surpass its previous high of $12.11/bu or turn back lower (currently its sitting at $11.44 as this is written).
Either way, wheat bids generally look really good this week and are currently well supported. Be sure to check on bids! That $14/bu new crop CWRS is pretty darn attractive.
Barley: Barley had minimal movement this week. Much remains the same. Line companies are seeing some export demand for fall, hence all the fall bids offered today.
Corn has been supportive barley. Corn markets remain strong with surprisingly low intended planting acres in the U.S., and strong ethanol and feed demand. Brazil does have a large crop that will make up for some of the shortfalls, however, it is also starting to experience hot and dry weather in areas that may cut into its production numbers.
New crop barley bids holding $9.00/bu del. Lethbridge.
Peas: Old-crop yellow and green pea bids have remained the same or softened. Many new-crop bids for both yellows and greens gained strength this week.
Oats: Oat futures hit new all-time highs! This is great, unfortunately, we aren’t seeing that carry into cash prices offered to farmers. Most buyers have all old-crop needs covered. It is expected that more oat acres will be seeded across the Prairies = more production. Buyers are waiting to see what the weather will bring.
Around the farm: Same old. Still hauling grain! Feels like we've been hauling a long time already, but the end is in sight! (For now, anyhow). Hoping to wrap up a few contracts next week before we start prepping for seeding. Looking forward to spending time with family this weekend!
Hope you all had a great week and have an even better long weekend!